Q & A
Read previous answers from Gail:
August 2008
- I have been reading about a "mortgage crushing plan" called the Financial Equalization Plan and was wondering if you knew anything about it good or bad?
- You often quote things like "save just $550 per month and in 20 years you'll have $990,000". Unless my math is way off, you're counting on an annual return of about 15%. Please, tell me, where can I reliably get a 15% annual return!
- On a recent show, you mentioned that 35% of your budget should go to fixed living costs? Is that right? What costs make up the 35%?
- In the episode I watched tonight you suggested the couple have their debt consolidated into their mortgage. When is this best to do?
- Hi Gail! My mom is an avid reader of your site, and suggested I become one too. I've just finished university and have a student loan of $10,500 (quickly accruing interest).
- Recently, we found out that my husband's ex business partner used his name as a guarantor for some loans amounting to $50,000.
- Am I making a mistake in applying so much toward my house? There's not much left for the "living" part of the budget.
- If we request to cancel the credit cards that aren't used often, will it lower our credit rating?
