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.


Recommended

by NEWSROOM AI
Read More
3 risks to your retirement savings (and how to mitigate each of them)

3 risks to your retirement savings (and how to mitigate each of them)

Only 5% of South African retirement fund members will retire comfortably. Bruce Whitfield interviews advisor Warren Ingram.

Last week was the JSE’s best in 10 years. Did you time it right?

Last week was the JSE’s best in 10 years. Did you time it right?

You cannot predict market turnarounds. Seriously. It’s freakin’ impossible, says Personal Financial Advisor Warren Ingram.

How the world’s richest people made their breathtaking fortunes

How the world’s richest people made their breathtaking fortunes

(A hint: for most, it wasn't in tech.) Bruce Whitfield interviews Warren Ingram, Galileo Capital Personal Financial Advisor.

9 tough questions you should never be afraid to ask your financial advisor

9 tough questions you should never be afraid to ask your financial advisor

Times are tough. Don’t spare her feelings! You must ask these questions of your advisor, implores Galileo Capital's Warren Ingram.

6 dumbest things people in their 20s do with money

6 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.

‘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
'Momentum did nothing wrong, legally. But the man died protecting his family!'

'Momentum did nothing wrong, legally. But the man died protecting his family!'

The Money Show’s Bruce Whitfield interviews consumer journalist Wendy Knowler.

'The universe is an extremely high-risk investment by the Creator'

'The universe is an extremely high-risk investment by the Creator'

Bruce Whitfield interviews Professor David Block about his attitude toward money (hopes and fears, successes and failures, etc.).

Markus Jooste will absolutely hate this book by FM Editor Rob Rose

Markus Jooste will absolutely hate this book by FM Editor Rob Rose

Financial Mail Editor Rob Rose talks about his book, “Steinheist: Markus Jooste, Steinhoff and SA’s biggest corporate fraud”.

Wife of Nathan Ganas speaks out over Momentum's refusal to pay up

Wife of Nathan Ganas speaks out over Momentum's refusal to pay up

Momentum has refused to pay a R2.4 million policy payout citing a non-disclosure breach

6 dumbest things people in their 20s do with money

6 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.

[LISTEN] 'We will not pay out the insurance claim', MMI CEO tells Eusebius

[LISTEN] 'We will not pay out the insurance claim', MMI CEO tells Eusebius

Eusebius McKaiser engages MMI CEO in a fiery debate about why they won't pay gunshot victim's R2.4 million policy claim.

VW vehicle nightmare to cost customer R23 000  after third engine fails

VW vehicle nightmare to cost customer R23 000 after third engine fails

A brand new Touran that's had three new engines since 2012 is about to cost the customer R23 000 for a fourth engine.