Valentine’s Day is just around the corner, and if you’re thinking of doing the ye old chocolate hearts, fluffy white ‘I Love You’ teddy bear and red roses routine for this year’s Valentine’s Day, perhaps it’s time to put down the crinkle paper.
Saving money and staying within a budget is already hard, now throw in the holiday season – it gets even tougher. However, it doesn’t mean you can’t enjoy spending time with friends and family.
Here are a few tips to avoid overspending and enjoy Easter on a budget.
Insurance is like a life jacket. It’s a bit of a nuisance when you don’t need it, but when you do need it, you’re more than thankful to have it. Without it, you could be one car wreck, illness or house fire away from drowning—not in the ocean, but in debt.
We would advise and warn consumers against buying food on credit, as it will have a negative impact on overall debt.
SA has 6-12 months to fix its political problems, said Investec Assest Management director Jeremy Gardiner.
The world was enjoying GDP growth across all major markets and growth in the US, Japan and Europe was benefiting emerging markets — but political interference weakened these benefits for SA, Gardiner said.
South Africans are hurting under the tough economic circumstances that the country is facing with many having to seek guidance from debt advice agencies to keep afloat, but there may be more bad news on the way for ordinary citizens as the ruling party is proposing to remove tax credits from medical schemes. With the cost of living steadily on the rise and many South Africans being forced into reckless lending schemes and having to pay off their debts by consolidation loans, the thought of having to fork out more money to cover the deficit left by the proposed tax credit cut may be a hard pill to swallow.
In a country that is largely divided by poverty with a struggling economy and millions of ordinary South African citizens under pressure to repay their debts by consulting debt review agencies and opting for consolidation loans, there is some good news for new home owners. Cape Town’s Constitutional Court recently ruled that new property owners will no longer be liable for the historical debt of their predecessors.
South Africans have had a bleak economic outlook for this year amidst a depreciating currency, slow growth, flailing investment due to political uncertainty, downgrades and an unemployment rate that is now over 27% with many of its ordinary citizens being forced to consult debt advice agencies and sign up to debt consolidation solutions. And it seems there is no silver lining in sight yet, even though the latest BankservAfrica Economic Transactions Index (BETI) indicates that economic transactional activity has increased in real terms in July when measured year-on-year.
In a country that has been racked by continuous bad news where debt consolidation is the harsh reality for most South Africans, there may be a small silver lining in the midst of the gloom. One of the big three credit rating agencies, Moodys, could let South Africa off the hook of a junk status downgrade, at least for now.