Biggest Debt Mistakes
Debt is something most individuals cannot avoid. If not managed correctly it could become an endless cycle of over-indebtedness.
The good news is that debt can be managed properly. But there are common mistakes South Africans make that leave them over-indebted. Wikus discusses the five biggest debt mistakes consumers are making, and how to avoid them.
The top five biggest debt mistakes are:
- Living outside of your financial means
- Paying only the minimum
- Not prioritising
- Credit card abuse
- Paying off debt with debt