The first thing that comes to mind when over indebted and seeking debt relief, is debt consolidation. This eliminates the trouble of dealing with multiple creditors. However, there is another option that you can explore: Debt counselling.Read More
You have been receiving constant calls from your credit provider, offering to increase your credit limit. You jump for joy thinking of the shopping you could do with that available credit.
Before you get excited, here is what you should do before accepting that limit.Read More
This coming weekend is not just any weekend, it’s a long weekend. That means you have three days of leisure on your hands. The problem is, with all that free time you might find yourself spending money to keep yourself entertained. Gregg Sneddon, financial advisor from The Financial Coach, has a few words of advice to ensure you don’t go over budget.Read More
When you have more loans than friends and you feel your only reason for living is to repay them, debt consolidation may be a way to simplify your life and your worries.
A debt consolidation loan allows you to combine all your loans into a single, manageable one. This way, you only have one creditor – and one amount to repay.Read More
On 27 March, the South African Reserve Bank (SARB) cut interest rates by 25 basis points. Of course, this was a welcome change to South Africans, who are the most indebted in the world, according to the World Bank.
Question is, do you know how these changes will affect your loan repayments?Read More
Deciding on the type of loan to take normally depends on the circumstances. For instance, when buying a house, one may be spurred to take a secured loan, and an unsecured loan when buying furniture.Read More
Employment is one of the significant factors when applying for a personal loan. After all, no creditor will lend you money until sure that you have some form of income and you are able to pay it back. But does that mean you can run to the bank and apply for a loan the minute you start working? The answer is no. Barbara Mundell, technical specialist at the Financial Planning Institute of Southern Africa (FPI), elaborates.Read More
In the event of death, the bank closes a client’s bank account. This may present many challenges to the family that is left behind as they cannot access the accounts. However, all is not lost as the law makes provisions for such occurrences.
A personal loan may be exactly what you need. But before you jump into the deep end, you should understand the consequences of belly-flopping on the surface and nose-diving into the floor.
After you receive your personal loan, you will be required to pay it off over time. But what happens if you can’t make your payments?Read More
Taking out a personal loan is a huge, long-term commitment. You shouldn’t make this decision on a whim or take the consequences lightly.