Global financial crisis promotes frugal living
The media is rife with stories of the negative impacts of the Global Financial Crisis, but there have been many new developments of a more positive nature that do not get coverage in the tabloids or gain airtime in the electronic media.
Upside to the GFC - Lower Interest Rates Increase Housing Affordability
Interest rates are down, considerably. The cost of a mortgage is well down on the rates being charged just eighteen months ago. Monthly repayments on variable mortgages are lower in line with lower interest rates, and if the repayments have remained the same the principal of the loan is reduced as the interest component of the repayment is a lesser proportion of the monthly installment. This allows the homeowner to get ahead, and create some contingency to delay payments for a whi...