Feeling overwhelmed with too much debt? A spending freeze is a great option to take back control of your finances.
A spending freeze is a period of time in which someone stops any discretionary spending, often for one or two weeks. This is a good first step for those who wish to pay off their debts. Spending freezes are used worldwide to educate people about their spending. To go on a spending freeze is simple and will give you a close-up look at your finances. You’ll be able to see what your financial priorities are, and where you can realistically cut back.
In this Radio Pretoria interview Wikus Olivier, debt counsellor at DebtSafe, talks about how you can go on a spending freeze. Although this isn’t a long-term solution to managing debt it will provide a good opportunity to learn how to cut back on non-essential spending.
Listen to the Radio Pretoria interview below.