Back in January, I posted about an article we’d put together on the ValueIreland website entitled 30 Things Not to Do with Your SSIA.
There was a follow up post by a reader mentioning an Irish Independent article which he described as an “absolute disgrace”.
The article was written by Donal Buckley and you can read it here. To be fair to Mr.Buckley, the gist of the article is actually based on banks suggesting that people borrow to buy cars rather than using their SSIA.
And why wouldn’t they suggest that – it’d make them even more money. They’ll make money on having your funds saved with them and on the interest you’ll be paying on your car loan.
Don’t do it!!!