Recession is a hard time in any circumstance, from increased rates to decreased value for money, consumers can feel the pinch out of nowhere. As South Africa enters into a technical recession, the National Credit Regulators have urged consumers to stay away from new or unneeded debts in our worsening economic climate.
In early June, Statistics South Africa announced that the country’s economy moved into a recession after the GDP contracted in two consecutive quarters- showing negative growth in the first quarter of 2017 and GDP contraction of 0.3% in the fourth quarter of 2016. While this is bad for the country overall, those with debt stress will have an even gloomier image in front of them.
While most people associate treasure hunting with pirates, we know better. There is treasure all around us; we just need to know where to look. Continue reading
So you went a little crazy this festive season by overspending on gifts and vacations and now you are not sure how you are going to survive the first month of the year? Continue reading
Christmas is around the corner, which means that you should have saved up some money for Santa’s sleigh landing. So, as the clock starts ticking with just a few days to go, if you haven’t prepared for it by now follow our tips to save money this Christmas.
It’s time to put a bright red bow on your budget and check your list twice!
We always get annoyed and complain when we see stores deck out their halls with Christmas decorations early in the year and then remove them late January (we know we do). However, we think they might actually be onto something. Continue reading
If you’re planning for the year ahead, a good place to start is to check your credit rating at the credit bureau. In South Africa credit rating checks can be stressful for some, as this is when you realize how good or bad you have been with the credit granted to you.
Ever look at the friends around you and think “I WANT IT, NO… I NEED IT!!!” From the expensive designer clothes they wear, the trendy areas they live in, the high-end cars they drive, the after work drinks at roof top bars and the hotel dinners… all so that you can keep up appearances and let’s not forget those Instagram posts to show the rest of the world that you are out #LivingYourBestLife. Continue reading
From student loans to the modern family, this is Millennial Debt
Starting out as a young adult can be a tricky transition. One minute you are in the once in a life time experience of university, the next you are supposed to find your own way in life without so much as a helping hint- painted as an amazing fortress of opportunity, life can sometimes turn your views upside down. Continue reading
Not only is checking your credit score an indication of your level of responsibility regarding your finances, but a credit score also shows creditors how likely you are to pay them back and what risk factors to consider before giving you credit. So, what is a good credit score?
As the eminent quote by Sun Tzu goes in his influential book, The Art of War,
“If you know yourself but not the enemy, for every victory gained you will also suffer a defeat.”
And, I’m certain that any debtor in the world would agree that being in debt is a lot like being ensnared in a drawn-out war of daily battles against an inexorable enemy. Continue reading