Proposed Medical Aid Tax Credit Cuts Will Hurt The Poorest Most

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.

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Court Rules New Home Owners Aren’t Liable For Previous Owners Debt

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.

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Weaker Inflation Sees Rise In Economic Transaction Activity

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.

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Credit Card Myths

5 Credit Card Myths You Should Not Believe

I remember the very first time I got offered a credit card. That shiny, cool plastic card that would make all my dreams come true and create a far better life for myself. The reality, of course, looked somewhat different and it took me years of hard work and being constantly broke to finally clear my debt. Credit card debt and reckless lending practices are a major problem, not only in South Africa but around the world. But what are the misconceptions around credit and credit cards, and do they really have to mean a life of misery with the risk of debt counselling?

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Vehicle Finance and Debt Review: What You Need To Know

South Africans have been hit hard by the bleak economic outlook, stagnant growth, junk status, rising living costs and unemployment rates, to name but a few. Never has it been harder to make ends meet and to try to put something away for your retirement as well as save for a rainy day. Many South African households are drowning in debt, under debt consolidation, and using most of their disposable income to pay off debts largely fueled by a reckless lending industry. But can you consider a debt review when your vehicle has been financed? And what happens if your financed car is in an accident or gets written off?

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Why You Shouldn’t Try To Keep Up With The Joneses

Most of us have neighbours or friends who seem to have it all … a beautiful designer house, the latest SUV, enormous flat screen tv and yearly overseas holidays to extraordinary destinations that most of us can only dream about! We want to ‘keep up with the Joneses’ by acquiring the same brands, and secretly even maybe outdo them with the very latest releases. In a material world that’s all about status and the latest tech gadgets, trying to buck the trend of conspicuous consumption is difficult but you should take a good hard look at your spending habits and deploy savvy saving tips if you want to create a future that’s financially secure.

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