DebtSafe Blog

Duck These Debt Duds & Start to Fix Your Financial Mess

In reality and all sensibleness, you are not able to control the economy, food prices, fuel hikes and various upsurges that come your way. BUT what about taking charge of what you can control – cleaning your debt mess and start taking care of your own mini-economy this 2019?

According to the latest available statistics via the National Credit Regulator – almost 25 million South Africans are credit-active. Are you one of them? And, how is the ‘buy now, pay later’ principle working out for you? Perhaps you have quite a few debts to pay off? Don’t you think it is time to put a lid on your ever-growing debt pile? It might not be easy, but it is indeed possible – you just need to get started.

Take a few seconds to think about it – if you start taking care of your finances this year, you can indeed be debt-free in the near future.

So, you have a few debt flops that need some fixing? If you try and avoid the following five debt duds during 2019, you are on your way to creating a financially-, debt- and mess-free future for yourself:

1. When you buy what you can’t afford…

Are you one of those consumers who mostly swipe your credit card without even thinking, and regularly buying what your eyes see? Spending temptation is real, but you always have a choice when it comes to your hard-earned cash. Dodge situations and enticements where you know you might spend more than you earn. If you need to attend a catch-up or coffee outing, suggest meeting at home. And, if you visit the shops, take your shopping list with you to get in the habit of self-control.

 2. If you keep up with the Joneses

Be honest, seeing the glamorous ‘lifestyle shares’ and pics on Facebook and Instagram are not at all easy. But the thing is – you should never get to a place where you ‘envy others’ DEBT’. What you see can be misleading, and by making erratic financial decisions on your side might get you into some serious debt trouble. Be happy for those around you and stay content by working with what YOU have available.

3. Implementing a lifestyle of luxury

“A minimalistic life is so yesterday,” you might say. But, is it really? You and your family (or friends) are indeed capable to get away with less. Take a look at all the STUFF in your house – have you used all of the appliances lately? Do you really need 60 pairs of shoes? Think about it, and get rid of unnecessary things bit by bit. You’ll not only feel ‘lighter’, but you’ll also do your wallet or purse a massive favour. Becoming a minimalist is the latest trend just FYI and by the way.

4. Falling for marketing gimmicks

You may not necessarily be a copycat – always buying what your neighbour does – but you are somehow influenced by the SALE signs and friendly shop assistants when visiting a mall or shopping outlet. Keep your 2019 mini-economy going by saying NO to things that you do not need. A special tip: try not to go shopping with friends, family members and the kids where possible – they tend to twist your arm and stretch your pocket in the process (no offence given of course).

5. When your silence is golden

In a case where you are in financial trouble and your debt-pile seems to be out of control it’s best to not stay quiet. Life happens and you don’t have to be ashamed about your former financial missteps, rather step up and do something about your current situation. Get the financial help that you need. There are various experts out there – financial planners, bankers, investors and in worse-case scenarios (where you want to avoid losing your house or car) – debt counsellors. Know this: YOU ARE NOT ALONE and you have a voice, so get the assistance that you require as soon as possible.

Duck the above debt duds this year and you can slowly but surely untangle yourself out of your debt mess. It is definitely not a walk in the park, but with a bit of self-discipline and commitment, you can, in fact, fix your financial situation and pave the way to your debt-free future.

If you are in a serious debt mess already, why not contact us to assist you in fixing your debt situation?