Stay informed with the latest news and expert opinions from South Africa’s leading news agencies. Debt Rescue’s CEO Neil Roets and Debt Rescue’s COO, Annaline van der Poel, shares economic insights, explains how debt review can help over-indebted consumers, and valuable financial advice. From expert interviews to breaking news, this page brings you honest discussions about money, debt counselling, and actionable tips to help you take control of your debt.
Independent economist Dawie Roodt says that South Africans will simply not stand for an increase in value added tax (VAT), should it be proposed in 2016. VAT is an indirect tax levied on most transactions, and is presently at 14% of the sales price in SA. It is widely expected that the government will raise
When the going gets tough, the tough get going, but as far as South African retailers are concerned it’s more a case of when the economy is tough, they become more cunning. Many retailers are finding innovative ways in their bid to lure cash- strapped consumers to part with their hard earned cash and in
Cape Town – In South Africa much more needs to be done – even at school and tertiary level – to make consumers more money savvy in order to protect them from “the hordes of vultures out there” trying to part them from their hard-earned money, according to Anneline van der Poel of debt management
Data from financial services company, Wesbank, shows an alarming increase in balloon vehicle payments in South Africa. A balloon payment is a way to shift a percentage of the car loan to the end of the loan agreement, notes SuperGroup. This enables you to have lower monthly installments because your monthly payment is calculated on
Cash-strapped families make a plan to ensure the silly season remains festive SAVVY consumers are ahead of the Grinch — and will not let anything steal their festive cheer this year. On the back of yet another tough economic year, a weak rand and this week’s interest- rate hike, families are outsmarting the system with
THE Reserve Bank’s latest rate hike of 25 basis points will leave consumers with less jingle in their pockets this festive season, say experts. The bank announced yesterday that interest rates would increase 25 basis points, bringing the repo rate to 6.25% and the prime lending rate to 9.75%. The rate rises would hit consumers
Yesterday’s interest rate hike of 25 basis points will cause all debt repayments, such as mortages and vehicle and credit card payments, to increase, putting additional financial strain on consumers, economists warned yesterday. The hike announced by the Reserve Bank’s Monetary Policy Committee (MPC) brings the prime lending rate to 9.75%. Further hikes in lending
Consumers warned: with price increases on horizon, don’t buy what you can’t afford THE WESTERN Cape’s festive season is likely to see a mixed bag of results with low consumer confidence and over-indebted- ness leading to moderate retail sales, but the province’s tourism sector is set for a bumper season, say experts. First National Bank
CONSUMERS will have to dig deep to keep afloat after an increase of 25 basis points in the interest rate was announced yesterday. The new rate at which the Reserve Bank lends to commercial institutions is 6.25%, with the prime lending rate as generally charged by banks rising to 9.75% The increase caught many economists
A report published earlier this year showed that South Africa ranks as the top country in the world for loans taken out. Rising fuel prices, a shot currency, rising interest rates and a lack of jobs, together with a stagnant economy already points to a bleak festive period for millions of South Africans, many of
