Debt

Like many of us, you may be a person who spends time worrying about paying the monthly bills. If you lose sleep over your financial worries, it can be said that you are allowing money to control you. However, you can take steps to control your money – and sleep better at night. What is…

Many South Africans have made use of debt counselling and debt review. Debt review is a highly effective way in which over indebted consumers can take control of their finances and become debt free. First introduced by the National Credit Act in 2007, debt review has assisted many South Africans since. According to statistics by…

You may have heard the names of each, but are not certain what they are. Here is a short summary of each: The National Credit Act (NCA) A new Act was made into law in 2007. It is called the National Credit Act (the NCA). The aim of the Act is to regulate how credit is granted, who can…

In 2007, debt review was introduced with the National Credit Act. Its purpose is to assist people who are battling to pay their monthly repayments on their debt. This includes loan repayments, store cards, credit cards and accounts. Consumer debt remains high, with many households finding themselves looking for assistance in repaying the monies they…

Being in debt can result in anxiety. It often causes marital strife. Studies show that 9 out of 10 South Africans are worried about being able to pay their monthly bills and debt payments. They also show that South Africans are paying 75% of their income on debt, resulting in only a quarter of their…

Summer is a happy season. The many hours of sunlight, the clear skies and hot days all contribute to lower electricity usage. Saving electricity is hardly thought of during summer. Cooking is easier – many enjoy the benefits of light easy meals and outdoor cooking. And, as it is far from chilly, heaters are packed…

Many people start a New Year with earnestly devised New Year resolutions. And then, a month into the year, they forget them. The trick is to make a plan that you can stick to, and then reap the rewards. How to live frugally, yet comfortably: Being frugal means that you are conscious about where your…

If you are concerned about your finances, you are not alone. Many people throughout our country are dealing with financial difficulties and uncertainty. It may be that your work contract has not been renewed, you are suffering from an illness that makes it difficult to work, or you may be feeling overwhelmed by debt. Financial…

It is almost the end of the year, a time for holiday, relaxation and Christmas. Christmas is usually and expensive time of the year, but it doesn’t have to be. As we all spent last Christmas in lockdown, people may want to treat the family more than usual. Be that as it may, it doesn’t…

Let’s face it – debt is expensive. What many people aren’t aware of is that debt is actually expensive. The cost of the debt is decided by the credit providers and the bank. They make their profit by charging you interest on the loan you have taken out. According to the World Bank, South Africans…