The more money you owe, the less likely you will be able to repay your debt. The only good debt is money that you borrow in order to make more money, like an investment. Make sure your finances are organised, know who you owe money, decide which debt to pay off and put together a monthly budget.
Lessons learnt from our strategist Sandisiwe Yengeni
As the year draws to a close (thank goodness), I have found myself reflecting on what 2020 has done to my financial plans. I came into the year with big goals of saving, especially towards retirement, travelling, and making sure I build up that safety net for rainy days. I was doing quite well, then the pandemic hit, and my well-laid plans went out the window.
Shopping has become a huge part of today’s society. Advertising has taken over with the technological advancements that have become a part of our daily lives. Whenever you turn on the TV or simply open your smartphone, adverts trying to convince you to buy their products pop up constantly. No wonder emotional spending has become such a huge problem in many of our lives. Do you know what your spending habits are?
The Covid-19 pandemic has shown us that anything can happen at any time and unfortunately, we need to prepare for the worst. It has also exposed the importance of credit life insurance. You can never be too sure about the happenings of the future, but you can prepare for It.
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.
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.
Are you wondering if you can take out credit whilst undergoing debt counselling? The answer is no, but for a good reason. If you are making reduced payments on your existing debt, the last thing you want to do is take on further credit that will make your situation considerably worse. But what about after the debt review process, when all your debt is paid off?
Have you ever wondered how you can wipe your credit record completely clean? Now the next question you might probably have would be; how do I actually do it? Is it even possible to have my credit wiped out? Well...here's the good news, YOU CAN and IT IS POSSIBLE through a debt review application. Read on to find out how we can both help you and save you more on what you're currently paying.
Many people have new year’s resolutions revolving around eating better or even being more outgoing etc. What about one of the most important aspect of your life, your finances? Start your new years with financial resolutions so that your 2020 is stress free and financially stable. Here are 5 simple resolutions to make sure your finances can improve.
The festive season is almost here, and it is easy to get carried away with all the festivities. All those parties, the food, the gifts, it can all take its toll on your wallet. If you are currently under debt review you need to be careful with your spending to ensure you can still, make your monthly commitments.
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