Are You Recycling Your DEBT?

Credit cards can be one of the most divisive products if not used for its intended purpose. And, if not managed with caution, you can quickly find yourself in a bottomless pit of debt. Matthys Potgieter, spokesperson and debt expert at DebtSafe, says many consumers use more than 70% of their income for debt payments

The Reckless Lending and Borrowing Cycle: Time to Face Reality

Many South African consumers are unaware of the true state of their debt, and sooner or later the dire consequences will catch up with them. According to Matthys Potgieter, spokesperson and debt expert at DebtSafe, “Consumers’ debt is to such an extent that many of them are not only currently digging their ‘financial grave’, but

Voluntary Surrender vs. Repossession

Anyone’s financial situation can change overnight. It is nothing out of the ordinary for unforeseen crises (like retrenchment, divorce, life-threatening illness or an emergency) to occur. This can make it difficult to pay your debt instalments. There are two things that you can get confronted with if you can’t pay for the goods that you

A Swipe Here, a Swipe There, Confusion Everywhere

Don’t fool yourself; a personal credit card equals DEBT. When you use a credit card, it feels so easy and it’s so much fun until you get hit by a confused reality – your debt spiralling out of control. You need to ask yourself an important question: Why do you actually want to use a

Ready, Steady…Wait, Are You Ready to Buy a House?

Are You Ready to Buy a House?

Having your own garden, garage, braai area and a place to call home gives you peace of mind, doesn’t it? Owning a home is indeed also considered a privilege, but there are things to take note of before you can even think of buying a house. Here are some considerations and certain questions you need

Know Your Consumer Rights

An important part of South Africa’s economic growth is consumers’ trust in their preferred product or service providers. They have the right to be offered quality service or products. And should not be exploited to let their hard-earned money go to waste. Customers should, therefore, be protected and valued at all times. As it is

What Will Your Workouts Really Cost You?

Now that 2017 is in full swing a lot of people are still working hard on making a success of their resolutions.  Most people promise themselves to become better people this time round, right? And the first thing many “resolutionists” do is to join their local gym. Is it a good choice? Not always. The

Car Repossession: What are your rights?

Car repossession has a major impact on your life. Everything becomes more difficult – getting to work, getting the kids to and from school, medical emergencies… So you want to hold on to your car as much as you can. But what if you can’t afford the installments anymore? Can the bank immediately repossess your

New Affordability Assessment Regulations

In an effort to stop reckless credit granting, the National Credit Amendment Act (NCAA) has proposed affordability assessment requirements. Consumers will find it more difficult to get credit. But at the same time, the new amendment will protect consumers who can’t afford more debt. On 13 March this year, the DTI published the regulations. But

Spending Habits and Credit Cards

People’s cash-flow is getting stretched more and more each month. But if you’re finding yourself relying heavily on your credit card to get you through it’s time to have a serious look at your spending habits. According to statistics from our survey, a little over 50% of the participants indicated that they don’t have a savings