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The industry’s top experts offer their best advice, research, how-to’s, and insights

“The average South African is worse off now than five years ago.” Durban – Unemployment is expected to worsen and already cash-strapped consumers will have to dig deeper into their pockets as South Africa’s economy went into a recession for the second time in two years. According to Statistics SA, load shedding was the number… Continued

LISTEN: Petrol and diesel price decreases bring relief to farmers, but for how long? CAPE TOWN – The latest drop in the fuel and diesel prices of 19c and 55c a litre, respectively, as a result of lower oil prices will provide relief for consumers, according to FNB Cash Investments chief executive Himal Parbhoo. Parbhoo… Continued

Moody’s rating next month is widely expected to be a downgrade to junk. Consumers must avoid falling into a debt trap “like the plague” as the possible downgrade of South Africa’s credit rating by Moody’s next month could undermine the December petrol decrease and the recent Reserve Bank repo rate reduction, experts said. Efficient Group’s… Continued

The National Credit Amendment Bill, signed into law by President Cyril Ramaphosa earlier this week, is not a mechanism to expunge debt for the over-indebted. Rather, it’s an instrument allowing the low-income market access to debt review at no cost. Once Gazetted, debt intervention will be accessible to a market that doesn’t qualify, or is… Continued

Here’s how the government bailouts of SOEs will affect consumers Durban – The bailouts from government to various state-owned enterprises (SOEs) will have a significant effect on consumers, according to Debt Rescue’s Neil Roets. The funds required from government for such bailouts are enormous. Eskom has been granted an additional bailout of R59billion, but without… Continued

A rapidly growing number of deeply indebted consumers are getting themselves into financial trouble by “investing” in cryptocurrencies such as Bitcoin and Ripple. Chief executive of Debt Rescue Neil Roets said he was “amazed” when the first clients started applying for debt counselling who had been driven to the brink of bankruptcy by buying into… Continued

South Africans have been warned to brace themselves for tough times in the new year. Debt Rescue chief executive Neil Roets has cautioned consumers to enjoy the festive season responsibly and not get in debt. He said major price increases are predicted for food and essential items due to the slow economic growth rate. Roets… Continued

Cape Town – Consumers are in for a rough ride in 2018 and are warned to tighten their belts even further. Neil Roets, chief executive of Debt Rescue, said many South Africans who barely made ends meet during the year have plunged themselves ever deeper into debt over the holiday season. “With major price increases… Continued

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