Hashtag: #HSBCAdviceColumns
HSBC: Saving Money Vs Investing Money
[Advice column by HSBC Bermuda] I’ve always heard that I should invest my money instead of allowing it to sit in my savings account. However, I don’t really understand investing. What is difference between the two? When and how long should I invest for? Saving vs. investing your money The challenge with savings accounts With interest rates... Read more of this article
HSBC: Managing Your Finances Better In 2016
[Advice column by HSBC Bermuda] It’s a new year, and I want to tighten up my finances. I am paying on my car loan, my child’s tuition and covering other expenses. But in the long term, I want to buy a house and hopefully retire early. How do I meet my current financial obligations and stay on track to meeting my long term goals? It’s great that... Read more of this article
HSBC: Rewards Options With HSBC Credit Cards
[Advice column by HSBC Bermuda] I’m really excited because it’s holiday shopping season! A friend told me that HSBC cards have lower interest rates and I can redeem my credit card rewards to purchase gifts. Is this true? What are my reward options? It’s true, our interest rate and Rewards Programme is what sets our cards apart. Not only are our... Read more of this article
HSBC: Planning For Children’s Education Costs
[Advice column by HSBC Bermuda] I plan to enroll my daughter into private school in six years. Money will be extremely tight when I do, but her education is worth the sacrifice. What can I do to prepare myself financially and what are my other financing options besides a loan? Planning ahead The costs may seem overwhelming, but if you’re realistic... Read more of this article
HSBC: Shopping For The Best Personal Loan
[Advice column by HSBC Bermuda] I’m shopping around for the best personal loan. What should I consider? Your personal circumstances will largely determine what personal loan is best for you. Some things to consider are the interest rate, the down payment required and secured vs unsecured, and repayment details. Let’s look at each a little closer.... Read more of this article
HSBC: Managing Your Finances With Planning
[Advice column by HSBC Bermuda] I am 44-years-old and need advice on managing my finances. I am paying my mortgage, my child’s tuition and covering other expenses. However, in the long term, I want to buy a boat and retire early. How do I meet my current financial obligations and stay on track to meeting my long term goals? With a bit of careful planning... Read more of this article
HSBC: Details Of Paying Your Bills Electronically
[Advice column by HSBC Bermuda] I’m “old school” and always pay my bills in person. I usually take a few hours once a month to walk around town and do this. My daughter keeps saying I should pay my bills electronically through my Bank. How does this work? We understand that change can sometimes be intimidating, but your daughter is right.... Read more of this article
HSBC: Tips For Saving On Your Banking Fees
[Advice column by HSBC Bermuda] How can I save on the bank fees that I pay? It really depends on what type of banking you are doing. But, typically it is cheaper to bank via Internet Banking instead of in a branch when doing specific financial transactions [such as requesting bank cheques or making money transfers]. Here are a few examples of where... Read more of this article
HSBC: Choosing The Best Mortgage Option
[Advice column by HSBC Bermuda] What is an interest rate? Also, what is the difference between Fixed Rate Mortgage and a Variable Rate Mortgage? Sounds like you’re exploring your options to purchase a home, Congratulations! I encourage you to book a Free Financial Planning appointment. We will help you determine which option is best suited for your... Read more of this article
HSBC: Choosing The Right Credit Card
[Advice column by HSBC Bermuda] I’d like to get another credit card, but there are so many different options available in Bermuda. How do I select the right card for me? This is an excellent question. Credit cards can be one of the most useful tools in your wallet. In addition to its primary purpose credit cards can provide travel insurance, rewards,... Read more of this article
HSBC: Tips For Managing An ‘Emergency Fund’
[Advice column by HSBC Bermuda] How much money should I keep in my “emergency fund”? Your emergency fund should cover all of your personal expenses for at least 6 months. This can include your: Mortgage/rent Loan payments School fees Insurance costs Utility bills Food Free Financial Planning with HSBC If your emergency fund isn’t where it should... Read more of this article
HSBC: Documents For Mortgage Application
[Advice column by HSBC Bermuda] We have finally saved enough money for a down payment and ready to purchase our first home. It is an exciting time for us so I want to prepare and make the mortgage application process as smooth as possible. What documents will I need to give the bank? Congratulations on reaching such an amazing milestone! It’s a great... Read more of this article
HSBC: Managing Your Money As A Couple
[Advice column by HSBC Bermuda] My husband suggested that we close our individual bank accounts and open one joint bank account. I’m a little hesitant to combine all of our money, but want to understand all options before I make a final decision. Can you help? Options for managing your money as a couple Many people decide to merge their money when... Read more of this article
HSBC: Considering Being A Stay-At-Home Mom
[Advice column by HSBC Bermuda] We just had our first child and I am debating if I should return to work or be a stay at home mom. How do I determine if this is financially realistic for our family? Becoming a parent is a huge financial responsibility as well as a lifestyle change. Before making a final decision calculate what your new income will be,... Read more of this article
HSBC: Easing A Wedding’s Financial Pressure
[Advice column by HSBC Bermuda] I’m getting married! I am in the process of planning our dream wedding and honeymoon but my fiancé is very cost conscious and worried that we will end up spending too much. What advice do you have for us? Congratulations! Understandably, the pressure of funding a wedding and a honeymoon can lead to stress and anxiety... Read more of this article
HSBC: Protecting Family From Inheriting Debt
[Advice column by HSBC Bermuda] Unfortunately I have accumulated a bit of debt over the years. I’m doing what I can to pay it off quickly, but as I get older I’m more worried that my debt will eventually be passed on to my children. Is there a way that I can protect them from this? Insurance is one of the most comprehensive and common ways to guarantee... Read more of this article
