MP says don’t cap interest rates, cap loan costs

Most would say “I’ll lend you £20 if you repay and buy me a (£3) pint next week”  is pretty fair. Yet if I (correctly) described it as a 140,000% annual rate loan would you still agree? Interest rates are a blunt tool, which is why when people say “2,300% APR payday loans should be banned”, I’m...

A mortgage warning, take a look at the UK Interest rates’ history since 1694

One of the great problems with our collective financial psyche is we normalise whatever the current situation is.  This can lead to bad decision making. I just found a wonderful little document, showing the history of UK base rates and the figures contain a stark warning for all mortgage holders… This is well worth looking at on...

Stopping graduates repaying student loans early would be a terrible mistake

Shockingly, the new English student loan system could mean some students will be better getting commercial debts. I’m flabbergasted by one mooted proposal – it’d be the first time we’d see legislation designed to penalise people for good financial management. Worse, it will add a terrible hidden burden onto parents across the country… There’s a huge amount to...

Pringles Etiquette – do they have a ‘get out of bowl’ free card?

Over the weekend I spotted a buy 1 get 2 free offer on Pringles crisps in Tesco (though the price is higher than usual – so a good deal but not rip roaring). As Mrs MSE and I were having a few people round on Sunday I grabbed ’em. Yet here’s the dilemma; when serving Pringles do you...