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Five Biggest Debt Blunders – Maya On Money

Five Biggest Debt Blunders – Maya On Money

Five Biggest Debt Blunders

In this Maya on Money article Wikus Olivier, debt counsellor at DebtSafe, discusses the five biggest debt blunders consumers are making.

Debt is something most individuals cannot live without. 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 are making that leave them struggling to get out of debt. Wikus discusses the five biggest debt blunders consumers are making, and how to avoid them.

The five biggest debt blunders include:

  • Living outside of your financial means
  • Paying only the minimum
  • Not prioritising
  • Credit card abuse
  • Paying off debt with debt