How You Can Manage Your Debt

When you understand your debt profile, you will be better equipped for managing and paying off your debt. Your debt profile is your affordability, and your debt responsibilities. Your affordability can be determined by working out your debt-to-income ratio. This is your monthly commitments versus your income. Divide your monthly debt repayments by your net…

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Debt Consolidation Loans: What are they?

According to statistics released by the Reserve Bank, South African consumers are almost R1.7 trillion in debt, and that over 25 million South Africans owe money to both lenders and financial institutions. It has also been found that, on average, 72% of South Africans’ income was used to pay debt. What is a debt consolidation…

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