The Personal Finance series with Warren Ingram

Drowning in debt? Help is at hand! You may want to check this out...

Are you struggling with debt?

The Money Show’s Bruce Whitfield interviewed Galileo Capital Financial Advisor Warren Ingram for his weekly personal finance feature.

Ingram discussed the difference between "good debt", "bad debt" and "neutral debt".

He also discussed debt consolidation - the refinancing of debt by taking out one loan to pay off many others.

There are a number of advantages (e.g. lower cost of debt, simplicity, etc.) and, of course, a few disadvantages.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Using debt to buy clothes, furniture, appliances or holidays is bad. There’s never a good reason to use debt to buy any of those things.

Warren Ingram, Galileo Capital Financial Advisor

Buying with debt an asset that increases in value is good.

Warren Ingram, Galileo Capital Financial Advisor

Debt consolidation is a good idea in about two out of 10 instances. However, for the majority of people it will become an enabler.

Warren Ingram, Galileo Capital Financial Advisor

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : Drowning in debt? Help is at hand! You may want to check this out...


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How to retire (or stop working for money) by the age of 40

How to retire (or stop working for money) by the age of 40

Warren Ingram recaps the principles “supersaver” Julia, a young client of his well on her way to financial freedom, is following.

5 dumbest things people in their 20s do with money

5 dumbest things people in their 20s do with money

Sam Beckbessinger, the author of “Manage Your Money like a F*cking Grownup,” has some tips, so you don’t have to live with regret.

Supersaver Julia is back! Is her (already substantial) nest egg still growing?

Supersaver Julia is back! Is her (already substantial) nest egg still growing?

The Money Show’s Bruce Whitfield interviews Julia and her financial advisor Warren Ingram.

Supersaver Julia, investing a third of her income (since 2013)

Supersaver Julia, investing a third of her income (since 2013)

She’s been inspiring The Money Show listeners since 2013. Is she’s still keeping it up?

How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

‘Budgeting’ for people who don’t budget (and probably never will)

‘Budgeting’ for people who don’t budget (and probably never will)

A simple savings plan for people who don’t like to budget. Bruce Whitfield interviews personal finance guru Warren Ingram.

Popular articles
The UAE is pumping billions into the Horn of Africa

The UAE is pumping billions into the Horn of Africa

The Money Show's Bruce Whitfield interviews Africa correspondent Lee Kasumba

Uphill struggle: City denies reports CPT's new electric buses can't climb hills

Uphill struggle: City denies reports CPT's new electric buses can't climb hills

The City of Cape Town says there's no truth to reports that the new R128 million electric buses can't climb up hills in the CBD.

'Minnie understood he might become a target'

'Minnie understood he might become a target'

Marianne Thamm wrote the forward to 'The Lost Boys of Bird Island' and worked with Mark Minnie in editing the controversial book.

[WATCH] 'I write about the world that I see' - Indian author Arundhati Roy

[WATCH] 'I write about the world that I see' - Indian author Arundhati Roy

Indian writer Arundhati Roy shares profound insights about her literary life and what inspires her to put pen on paper.

[LISTEN] Is your phone listening in on your conversations?

[LISTEN] Is your phone listening in on your conversations?

MD at World Wide Worx Arthur Goldstuck explains how your phone may record your voice conversations.

[READ] Owner of CPT's YogaZone responds to racial claims made by yoga instructor

[READ] Owner of CPT's YogaZone responds to racial claims made by yoga instructor

Africa chats to the owner of YogaZone after a yoga teacher called in to speak about the racism she experienced from a co-worker.

'Black Tax'... working hard, earning well, but struggling financially

'Black Tax'... working hard, earning well, but struggling financially

Young(ish) South Africans tell stories of the mixed emotions they feel when supporting family members, and tips from an advisor.

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Castro bodyguard shares tales of dictator’s double life and breath-taking wealth

Juan Sanchez shares stories of Fidel Castro that’ll make you re-examine everything you thought you knew about the Cuban dictator.