Alice Haine
The National readers, we need you. Every three weeks, the Money section publishes Money Clinic - a column to help solve reader's money issues. For each column, an expert steps in with his or her opinion but we also want to find out what you think.
We all have different perspectives on how money should be handled, ie saved, invested or spent, and we are interested to hear and publish your thoughts. So what do you need to do? Well, below are two questions sent in by readers. Simply send your solution by email, labelled Money Clinic answer, to pf@thenational.ae. You may want to help a reader with their concern or warn them that their financial behaviour is risky. Whatever your opinion, we want to hear it.
The questions we are currently looking for reader feedback on are:
Question 1:
I want to take out a Dh100,000 loan for my rent and a Dh75,000 car loan for a second-hand car and I keep getting confused by the different interest rates on offer. Some of them are advertised as flat rates and some are advertised as reducing rates. What is the difference and how will that difference affect how much I pay back? SA, Dubai.
Question 2:
I have a credit card with an outstanding balance of Dh75,000. Can you suggest any option to get rid of this liability? I have approached so many banks for a personal loan to settle this but the banks say with this much on my credit card, they cannot offer me a loan. RP, Abu Dhabi
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