DebtSafe

Having Fun Doesn’t Have To Cost You Money

Stephen Logan — Tue, 21 Feb 2012 07:27:04 +0000

More often than not, spending time doing things that cost very little gives us the most enjoyment. It also makes a lot of sense when money is tight or you are trying to get Debt Free. Going for walks, exercising at home, playing with your kids (teaching them and telling them stories), spending time with those we care about, helping others, giving away stuff we don’t use or have outgrown. All these things cost very little but produce great results. There is so much to do that doesn’t cost money. It does cost us time and effort but it is always worth it. Let me invite you to re-evaluate what is important. Each of us needs to take time out to “smell the roses”, especially when times are tough.

Changing Debt Principles Over The Years…

Stephen Logan — Tue, 21 Feb 2012 07:25:06 +0000

Being Debt Free was something people took for granted 100 years ago. Credit didn’t exist on the scale it does today. It was hard to get credit and you were never given the amount of credit we get offered these days. If you had credit, you were encouraged to pay it off quickly. Not so these days. The longer it takes the happier the banks are. We have seen thousands of people get Debt Free and stay that way. Their lives are never the same again. When times are tough it is easy to keep spending on credit, to keep up appearances. That’s a big mistake. Everyone knows that things are not as easy as they were. Now is the time to cut back on credit and pay off your debt. Spend money on the things that count, like repaying debt and saving. The more we save the stronger the economy will become. We all have a part to play. Let’s be honest with ourselves and strive to get and stay Debt Free.

Overcoming A Weakining Economy

Stephen Logan — Tue, 21 Feb 2012 07:22:00 +0000

It’s still tough out there. The economy isn’t recovering nearly as quickly as we hoped it would. The Reserve Bank has decided to keep interest rates as is and one of the experts had revised the estimate for economic growth downwards to 2.5%. So, what does this mean for us? Should we despair? The answer is No. This is the best time to make the most of what we have. It is in tough times that we think most clearly about the opportunities and make the changes we need to in order to thrive. Lots of people get so depressed they forget the good stuff. If you are paying off debt, you are getting financially free. If you are having to tighten your belt, you are either getting fitter or building character. The economy will pick up. Things will improve. We need to do our best with the resources we have and stay positive.

Make Your Dreams Come True in 2012

Stephen Logan — Tue, 17 Jan 2012 11:15:56 +0000

Who cares about where your friends went for their holiday? It doesn’t matter if you didn’t achieve all you were hoping for in 2011. What matters is what you do today. You have a whole new year ahead of you. It is full of opportunity. This is the year you can do everything you hope for – or at least start on making your dreams come true. It’s up to you. You have to want to make the most of today. Don’t start tomorrow, start now, start immediately. Remind yourself to make the most to today, everyday! You must get the most out of all the good things you have. Take time to be with your family. Remember to smile. Each of us can make a big difference to the world around us.

Stay Focused and Positive in 2012

Stephen Logan — Tue, 17 Jan 2012 11:12:55 +0000

The newspapers are full of gloom and doom. If it isn’t the economy, its sure to be something else. In tough times making the most of every opportunity is crucial. You need to stay positive. If the news is depressing switch it off. Things will get better. There is a lot to be said for making the most of what you have. Remember, we only have today. Make the most of today and you will look back on a great year and have a bright future. Remember, spend as much as you can on debt repayment and make sure you get debt free and stay debt free. You will never regret the financial freedom of being debt free.

10 Financial New Year’s Resolutions You Should Keep

DebtSafe Admin — Mon, 16 Jan 2012 09:59:26 +0000

JOHANNESBURG, South Africa – 16 January 2012: With 2012 on our doorstep, we not only look back at the year that has passed with many goals achieved and obstacles met, but we also look at the year ahead and set new objectives. A recent study* shows that 62% of South Africans believe that the country’s economy is in a recession and it is with this statistic in mind that DebtSafe urges consumers to increase their financial intelligence by settling unpaid debt and setting solid objectives in order to stay in control of their financial freedom.

In the same study figures showed that 69% of South African consumers expect that their spending power will stay the same or increase this year (2012). Hein du Plessis, Managing Director of DebtSafe, shares 10 Financial New Year’s Resolutions that each South African should stick to this year.

1. Do not spend the rest of the year’s income now

Avoid taking on a new or additional credit card this year. Don’t be tempted by a convincing voice on the other end of the phone asking you to take another credit card with ‘so called’ benefits.

2. Treat each financial decision with the highest respect

Ensure that each financial decision you take this year is treated with the utmost respect and is well thought through. The way your finances are managed this year will determine your financial position next year.

3. Planning, planning, planning and planning

Financial freedom is achieved through planning. As tedious as this might sound, it will be worthwhile in the long run. Make a note of each and every expense during the month, including tips to the guard who watches your car, bank-charges, interest on your credit card, etc. Add up all the costs at the end month-end and determine exactly how much money you have spent. This will help you to make informed decisions in future and draft a budget that can be applied throughout your lifestyle. Plug the holes through which your money is draining out.

4. Always know where you are financially

Keeping track of your financial portfolio during the month can be stressful, mainly because you have overspent or had to spend money on an item you did not budget for. Always stay abreast of every activity in your financial profile.

5. Take a 30 day breather before any major financial commitment – especially debt

If you feel that you are in need of a new car, radio or even a new set of kitchen utensils, take a ‘time-out’ to think about the ‘need vs want’. Do your homework, analyse the situation and then make an informed decision after a 30 day ‘breather’. Taking this time out will allow you to see the situation objectively and without any emotion. There should be no urgency when decisions like this are made, not even if it is a limited offer.

6. Keep your money and loved ones separate.

Most people go through financial difficulty due to their financial involvement with friends and family; whether this is due to a mutual business enterprise or whether you are asked to lend money to a relative going through a difficult time. Try and analyse your situation first and foremost: how will you be affected when agreeing to the proposal? Decisions such as these are usually emotional and are not approached realistically and objectively. You can provide help in other ways too –inviting those in need for dinner once a week or offering a lift to the shopping mall for a grocery ‘run’ . Remember that it is very difficult to take legal action against family and friends.

7. If it ain’t broke don’t fix it

If you feel completely in control of your finances and already have a set of do’s and don’ts when it comes to your spending habits and it works for you, don’t change anything. Focus on maintaining your current state of affairs. The opposite is also true: keep doing what you have always done and you will get what you have always got. If it doesn’t work, it is time for change.

8. Find another avenue rather than a financial reward

If you have met a specific goal in your professional or personal life, reward yourself with a special treat other than a new piece of clothing or a day at the spa that can amount to exuberant fees. Spend time with your spouse, your children or old friends. If the word ‘I deserve’ is the justification for buying something, you don’t really need it. Some of the worst decisions are made by using those two words. Remember that such a reward will not last and the novelty will wear off very quickly. Chances are that the installments will outlast the novelty.

9. Be a conscious and cautious shopper.

When buying bread and milk on a daily basis, ask yourself whether it is cheaper to stop at the local garage or whether stopping at the Checkers or Pick ‘n Pay will save you more money in the long haul. Most of us opt for the most convenient option, rather than the cheaper one. Never shop during peak times or at the end of the month when most retail outlets try and lure consumers.

10. Save, save, save!

Start saving little bits at a time, even if it is less than 3% of your monthly salary, it is a good start and will encourage a healthy financial habit.

Du Plessis says that although these habits are new to many people, once they are integrated into your lifestyle and the benefits are realistically experienced you will be more inclined to adhere to them and make them part of each and every one of your decisions on a monthly basis.

DebtSafe has recently released statistics where it found that the debt counseling facility reduces payments for clients by up to 54% – the suggested tips on how to handle your finances in 2012, is just one way DebtSafe is committed to helping you secure financial freedom

For more information visit DebtSafe at: www.debtsafe.co.za.

*taken from the 14^th Deloitte Year-end Holiday Survey released on 16 November 2012 - The Holiday Survey

Get Debt Free in 2012

Stephen Logan — Thu, 12 Jan 2012 08:49:17 +0000

Are new year’s resolutions meaningless? We are already nearly two weeks into the new year but its not too late to change things for the better. I’d like to encourage you to get debt free ASAP and then stay debt free. This is a new years’ resolution that will make life far easier for you and bring lasting rewards. It means sticking with the program and paying off your remaining debts as fast as possible. That means spending as much as you can on debt repayment and cutting back on everything else. I am always amazed at the sacrifices people make for their families. This is a sacrifice they will always appreciate and you will never regret. Hundreds of thousands of people have paid off their debt and live debt free, you can too.

Debt Free Achievements

Stephen Logan — Tue, 06 Dec 2011 09:03:43 +0000

The end of the year is a pressurized time with lots to get done and the promise of a well earned rest. It is a time to take stock of your achievements and look forward to a better year.

For those who have embarked on debt counselling, the journey is often bittersweet. While there is relief at keeping creditors at bay and gladness in seeing the debt going down every month there is also frustration in having to pay so much money in debt repayment.

It is important to take heart, to persevere and look on the bright side. Remember you are getting debt free, that is very clever, it is what makes people wealthy.

Being debt free will mean you have won back your financial freedom and will be able to save and retire well. Pat yourself, and your family if you have one, on the back and tell yourself, from me, it’s worth it, I’m getting ahead of the game. Remind yourself of why you are doing this and think of the joy of being debt free.

Need a New Year Resolution? Stay Debt Free!

Stephen Logan — Tue, 06 Dec 2011 08:23:42 +0000

New year resolutions are seldom kept. You made a resolution when you signed up for debt counselling – you resolved to get your finances back on track, to do whatever it took to become financially fit, to get debt free. That’s a resolution worth keeping. The long term benefits are huge. The difference between a difficult life or a comfortable one. It’s easy to forget just how amazing what you are doing is. You are going to be debt free and be able to accumulate savings, invest and retire comfortably.

So, next time you think about the New Year, tell yourself how much better it is going to be because you have and continue to make so many sacrifices. Tell yourself that your future is going to be far better than the many others who have not stuck to the program or even resolved to turn things around. Tell yourself you are not going to ever be a victim of creditors again.

Congratulate yourself on your journey so far and know that next year is already far better because of all you are doing now to get financially fit.

Think Clever This Festive Season

Stephen Logan — Tue, 06 Dec 2011 08:20:29 +0000

It’s that time of the year again when presents have to be bought. We have huge pressure on us to buy the things our kids and family want, to make them smile and avoid disappointment. Going away on holiday, with the rest of the world, for an expensive holiday is also top of peoples’ agenda. For those who are trying to get debt free and ensure their creditors are unable to take advantage of them, it is a tough time to be prioritising debt repayment.

The best course of action is to be modest in your giving, to scale back on presents and holiday destinations and rather spend your most valuable commodity, your time, on those you love. It’s not being stingy, it’s being sensible.

Being strong financially is far more important than being seen to be extremely generous. Remember you can be more generous later when you have settled your debt. Don’t dig a hole for yourself now by spending more than you should, don’t give way to being silly in the silly season. Encourage yourself to be careful financially – don’t play around with your future.