An index to help you make better money decisions, 60 seconds each.
Banking & credit decisions.
12 decisions documented in this category.
Why your airline miles lose value every year
I have been saving these loyalty points for two years. The trip I wanted now costs 50 percent more points than when I started.
Same balance. Same programme. The redemption keeps moving further away.
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Save $300 a month without thinking about it
I have been meaning to set up automatic savings for two years.
Twenty minutes of admin would have saved me thousands by now. The friction is the only thing between me and the savings.
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Why most 0 percent balance transfers fail
I moved $5,000 to a 0 percent card. I planned to clear it before the promo ended. I did not.
The promo period felt long when I signed up. By the time it ended, I had cleared $1,800 of the $5,000. The remaining $3,200 now charges 22 percent interest.
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How pay-in-four quietly adds up to debt
I have been using 'pay in four' for everything under $200 for two years. I do not know how much I owe.
Each purchase felt small. Each instalment plan felt manageable. The total of all my active plans is something I have never added up.
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Why 4.5 percent advertised becomes 0.19 percent
My savings account advertises 4.5 percent. I have been earning 0.19 percent for the last six months.
The 4.5 percent was the headline rate. The actual rate depends on monthly conditions I have not been meeting. The default rate when conditions are not met is much lower than the headline.
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Why splitting payments does not make them smaller
I bought a $400 coat in 4 payments of $100. Three months later I had six payments running on my card.
Each one was small. Together they added up to a coat I would not have bought at full price.
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The hidden cost of $200 from an ATM
I took $200 cash from my credit card at an ATM. I treated it like any other withdrawal.
The $200 was the same as cash from my debit card in my head. In the actual fine print, it cost me 22 percent annualised interest starting the moment I pressed the button, plus a $10 cash advance fee.
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Why minimum payments take 26 years to clear
I pay only the minimum on my credit card every month. It means I will be owing money for 20 years.
Same balance, same income. The size of the payment is the difference between owing $5,000 and paying $16,000.
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Earn up to 5 percent on your emergency fund
I have $15,000 in my regular savings account earning 0.1 percent. The high-yield account next door pays 4.5 percent.
Every year I leave $660 on the table for the convenience of not switching accounts.
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How your raise quietly disappears
I got a 15 percent raise last year. My savings rate stayed the same. The extra money disappeared into bigger expenses.
The raise was supposed to change my financial life. Instead it changed my lifestyle. The financial situation is identical.
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How one overdraft becomes three fees
I had $40 in my account. Three small purchases hit on the same day. The bank charged me $105 in overdraft fees.
The fees added up to more than the purchases that triggered them.
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Setting limits on helping family financially
I have been helping my parents financially for two years. I never set a number or a deadline.
The help started as one-off. It became monthly. There is no plan, no review point, and no conversation about what comes next.
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