Life can be full of surprises. Geysers burst, cars break down, and children need new braces when you least expect it – and often when you can least afford it! Perhaps you’ve already eaten through your emergency fund and you’re strapped for cash. What are your options now?
As a business owner, you can also be in dire need of cash. Cash flow declines can make it impossible to run your business smoothly. What can you do to prevent a financial crisis?
Successful people START NOW. Failures wait for better circumstances.
David Young
Debt counselling has helped thousands of people in South Africa become debt free.
Did you know? Statistics South Africa stated in June that 49168 summons were issued in South Africa. So, as we already know, South African consumers are no strangers to debt. And, especially nearing the end of the year, consumers find themselves in more trouble than ever before. This is thanks to Black Friday, Christmas, the holidays, upcoming school payments and other extra expenses.
If you are caught in debt and need to free yourself from the weight of debt, debt counselling may be the best solution for you.
The most painful thing about owning a car is knowing that is continuously depreciating. Depreciation is the main factor that causes your vehicle’s resale value to dip. But, you can’t avoid this problem. Most cars lose about half of their value within their first three years. There are other ways to lessen the blow of depreciation on your vehicle. One way is to do proper research on a car before you buy it so that you buy a car that doesn’t have a high depression rate.
Are you stilling feeling the financial sting of a very enjoyable festive season? Many South Africans are – and the worst part is most of them will continue to sink further and further into debt.
At the moment, getting into debt has never been easier and more tempting, with one of the biggest seducers being cryptocurrencies – the dangerous trend. The Reserve Bank stated that consumer debt has reached over R1.71 trillion – TRILLION! South African consumers just won’t stop spending money they don’t have.
Budgeting in 2018Budgeting is crucial. Many South Africans have been complaining about not having enough money. 2017 seemed to put strain on everyone’s pockets, leaving over 70% of middle-class South Africans in financial stress. With thousands of households struggling to make ends meet, imagine how many more consumers are becoming indebted.
Short term debt, such as credit cards and personal loans, are easy to obtain and have been the main culprits for leading people to financial trouble. Financial experts predict that high unemployment rates, political uncertainty, low economic growth and low confidence are some of the many reasons South Africans are not going to be saving a lot in 2018 – but also, most of them just don’t have enough money to live, let alone save.
