Insights
Points worth a second look
A payment can reach an account without being applied in the way the borrower expected. Charges, interest, principal and future instalments may be treated separately.
Why an average income can hide a difficult repayment week
A monthly total removes information about dates.
The quiet-month bias in a borrowing budget
A recent period without annual bills or repairs can make available income appear unusually generous.
Expected extra income should remain an assumption
A bonus, overtime or hoped-for sale can support a scenario without being certain.