Learn how to do more with your money

Learning how to manage your finances at a young age may seem hard but it will set the foundation for your future finances. Saving for your retirement may seem daunting t at a young age but to enjoy your retirement, you need to start saving while you are young.

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Should you take a personal loan when under debt review?

National Credit Act (NCA)

Simply put; you need to avoid loans at all costs when you are under debt review. Taking a personal loan when you are under debt review can cost you everything you’ve worked very hard for.

When the National Credit Act (NCA) introduced debt review in 2007; many South Africans have since been assisted and prevented from being blacklisted, having their assets repossessed, or living with a heavy burden of debt.

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Tips on improving your credit score.

You probably know that your credit score is a big factor in getting a loan, but you may not realise just how much of an impact it can have on all aspects of your financial life. Your credit score can influence everything from interest rates and insurance premiums to apartment rentals and even job eligibility.

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Don't dip into your retirement savings to cover your debt.

Tapping into your retirement savings early can have a long-term devasting impact. If you find yourself changing jobs with the option to cash out your fund to pay off your debt. Don’t. You will accumulate more debt when you stop working to fund your retirement.

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The global pandemic has not only changed our lives as we know it, but it has drastically changed the South African economy and in turn, our finances. South Africans have had to change their way of living to suit their new financial situation. Many have been left without any income for months, and are not able to afford the things they are used to, leaving us to make tough financial decisions that will affect our lives for years to come. Here are some ways to keep your finances going in our changed world.  

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During a crisis, there is often a high level of uncertainty caused and this pandemic is no exception. Managing your money, and maintaining your budget is proving to be challenging. People have suffered retrenchment, reduced hours, and wages as well as increased medical expenses. 

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Struggling with debt during COVID-19 

Are you struggling with debt during COVID-19? Since South Africa announced its nationwide lock-down back in March, many have been left without jobs or receive a reduced salary and are generally in a bad financial situation. Although the government has provided some financial relief through temporary relief funds, this has proven to not be enough to help the average South African sustain their everyday lives. It may be best for you to take control of the situation yourself. Use this time to review your financial situation and reach out for help where you need it 

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Meerkat's guide to your finances

It’s always good to learn about finances. Here we provide a guide to your finances. The basics of budgeting, credit, banking, saving and debt are the pillars you need to focus on to not only improve your financial education but you will be able to apply what you learn to make your finances great.  

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Personal finance during COVID-19

You probably have many questions during these trying times...” Will I lose my job?” ...” Will I be able to keep up with my debt repayments without an income” ...? “Will I have enough money to buy necessities at the end of the month” 

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Want to consolidate your debt into one single repayment?

There are a few options to choose from when looking to consolidate your debt. Some people look to get a consolidation loan but the interest rates can be high meaning you pay off more for your debt overall. If you are already behind on your repayments you are unlikely to qualify for a loan to consolidate your debts and you may want to explore debt review.

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