Nine products to live without
There are some financial products you should live without.
All are a drain on your finances, and some are downright toxic to your long-term wealth.
There’s been an explosion in dubious and poor value financial services, especially loans and insurance.
If you have any of these financial products it is evidence you need to take a long, hard look at your money life, and consider doing things differently.
OVERDRAFT: An overdraft is fine for small businesses, but for ordinary people, it is something you should grow out of using quickly after joining the workforce. Money spent maintaining an overdraft is better saved, to make you richer. If you lurch into overdraft month after month, start budgeting.
CREDIT CARD COVER:
People who carry debt on credit cards worry how they would repay it if they were made redundant, got injured, died or fell sick. So they pay the bank for loan