The Citizen

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

The fact that the gov­ern­ment has by ar­ti­fi­cial means sup­ported the fuel price to keep it well be­low the 23c-25c a litre that had been ex­pected will come back to haunt con­sumers in months to come says econ­o­mist Dawie Roodt. “There is a set for­mula that the en­ergy depart­ment and econ­o­mists use to cal­cu­late the… Continued

Neil Roets A growing number of deeply indebted consumers are getting themselves into financial trouble by “investing” in cryptocurrencies such as bitcoin and Ripple. I was amazed when the first clients started applying for debt counseling who had been driven to the brink of bankruptcy by buying into get-rich-quick schemes involving cryptocurrencies. Some of them… Continued

South Africa is the only country in the world that allows for home loans to be placed under debt review. Individuals pledging their lives to one another may well be forgiven for wanting to alter their wedding vows such that “death” is replaced with “debt”. Financial difficulties can place enormous strain on any relationship, more… Continued

Index shows SA is one of world’s most indebted countries. With major price increases for food and other essential commodities on the cards as well as a continued sluggish growth rate predicted for the new year, South Africans are in for a rough ride in 2018. Neil Roets, CEO of debt counselling company Debt Rescue,… Continued

– Deeply indebted consumers should think long and hard before plunging themselv es even deeper into debt by splurging on luxury goodson Black Friday. Often deals offered by major retailers seem so good that consumers throw caution to the wind and blow their entire Christmas budget on expensiv e items such as high-end TVs and… Continued

Roets also urged consumers to rather save their Christmas bonus and use it to pay school fees and other accounts. The drop in fuel price that comes into effect at midnight on Tuesday and recent decisions by the three main sovereign rating agencies not to downgrade South Africa to junk status is all Christmas cheer,… Continued

The drop in fuel price that comes into effect at midnight tonight and recent decisions by the three main sovereign rating agencies not to downgrade South Africa to junk status is all Christmas cheer, but an economist warns consum­ers against opening their purses too wide this festive season. The price of petrol will drop by… Continued

TOUGH: RECKLESS LOANS COULD BE WRITTEN OFF Many retailers are breaking law on massive scale, says Credit Rescue. Reckless lenders could find themselves on the wrong side of the law when new legislation comes into effect. Credit providers, including micro-lenders, retailers and even banks, who grant loans to over- indebted customers, could be tar­geted. Major… Continued

The price of fuel is expected to drop next month, holding out the promise of relief for consumers. The petrol price will likely drop by up to 83 cents a litre, the diesel price is estimated to drop by 45 cents a litre and illuminating par­affin will cost 42 cents less for a litre. This… Continued

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