Studies have shown that South Africans spend, on average, 63% of their after-tax income on debt. That’s pretty shocking. Spending most of our income on debt means that we have less to spend on the things that matter most. While consolidation loans may seem like a great idea, the long-term effects are not worth it. The… Continued
Your credit score could be the most important number connected to your name. The three-digit number contains information that shows how well you manage your credit. And creditors like to use this number to weigh you up against other consumers. They use this information to predict whether you’ll be a good or bad consumer. How… Continued
Help your employees get out of debt There are currently 25 85 million credit-active South Africans and approximately 40% of them are stinging with debt. And this likely includes your staff Employee financial wellness is a vital part of a company’s success. It helps retain top talent and job performance. With so many consumers struggling… Continued
Love ‘em or hate ‘em, the fact of the matter is, credit cards are a way of life. That doesn’t mean they’re all that good, nor are they all bad. They make spending effortless, blurring the line of how much money you have and how much you can spend. And eventually lending your way into… Continued
It depends on a few factors. What life stage you’re in, your spending habits, your goals, your job stability, your financial obligations and so on. If you’re like most South Africans, you have debt. Having some debt is fine – having debt can even be healthy if your debt is connected to your goals, like… Continued
Do you ever feel anxious and stressed out about having too much debt? Debt can be emotionally draining and frustrating. But, it’s not impossible to get out of debt on your own. Start by making a conscious decision that you want to become debt-free. Choose to start right now. Let’s begin. 1. Where do you… Continued
If you’ve ever been in a tight financial situation and struggled to pay off your debt, you would stumble upon something called ‘debt counselling’. This process is also referred to as debt review, which is a legal process regulated by the National Credit Regulator (NCR). This legal process was put in place to help South… Continued
How many of us really ever read the T&C’s when signing up for a credit card? Not many, right. Although it might feel like we’ve been given a bottomless pit of wealth, we don’t think about all the hidden costs that come with a credit card. Keep reading to find out how creditors charge you… Continued
Credit cards, mortgage, car loans, short-term loans etc. – we all shake hands with debt somewhere along the way. However, sometimes debt follows you around and you can’t seem to shake it off, and it becomes bigger and meaner than ever. So, how do we get out of debt, and prevent the debt monster from… Continued
President Cyril Ramaphosa signed the National Credit Amendment Debt Relief Bill last week. The objective of the National Credit Act is to promote fair and accessible credit to all South African’s. But will the bill be beneficial for lower-earning consumers in the long run? The new bill could contradict “fair” and “accessible” to all and… Continued
We look forward to the opportunity to get you debt-free!
