Uncategorized Archives

16Jan-24

Savvy Money Moves for 2024

The new year is a great opportunity to start fresh in life as well as getting your financial house in order. Making smart, savvy money moves (and decisions) early in your financial timeline is an important step to start ticking off your financial goals as well as achieving future financial success. “Have you been feeling a bit lost, disconnected, or unorganised concerning your financials lately? Then, embrace the opportunity to kickstart 2024 as your best ‘financial year’ yet by implementing [...]

Posted By Carla OberholzerCategory: UncategorizedComments: 0

26Sep-23

Credit Cards Unveiled: The ‘Basics’, The ‘Good’ & The ‘Be Careful’

CreditSmart’s Deep Information Dive “Sixty-one percent (61%) of our 2023 ‘Financial Savvy’ survey respondents said they use their credit cards every month and lay awake stressed about their financial situations. A lower, 39%, confirmed they do not have a credit card and are not overly stressed about their finances. Is it a coincidence? I would say it’s about how you handle these little plastic cards that can either help or hurt your pocket and up or lower your stress levels,” [...]

Posted By Carla OberholzerCategory: UncategorizedComments: 0

11Aug-23

Why Grocery Prices Keep Affecting South African Consumers’ Pockets

“Picture this: you walk into the grocery store, expecting to find some relief from rising grocery prices since inflation is purportedly decreasing, only to be met with the same or even higher price tags. It’s frustrating and bewildering, leaving you questioning why prices seem stuck in an upward spiral. And it is not easy considering your salary increase (if at all) compared to inflation – it is difficult to keep up with incessant costs. I’d like to share some [...]

Posted By Carla OberholzerCategory: UncategorizedComments: 0

2Aug-23

Top Ten Tips to Consider Before or During Any Grocery Shopping Outing

In honour of #WomensMonth, and to help alleviate the stress of grocery planning and shopping, our CreditSmart team presents tips and considerations to help you, our South African women, to make the most of your grocery budgets.

Posted By Carla OberholzerCategory: UncategorizedComments: 0

National Savings Month - Consumers should try and save money where they can instead of taking on additional debt...

13Jul-23

NATIONAL SAVINGS MONTH: Consumers Encouraged to Consider Suitable Savings Options Instead of Giving in to Unsecured Debt

NATIONAL SAVINGS MONTH – Consumers Encouraged to Consider Suitable Savings Options Instead of Giving in to Unsecured

Posted By Carla OberholzerCategory: UncategorizedComments: 0

20Jun-23

Four (4) Tips for Building Financial Resilience in Young People

“Our South African youth is not only a group of passionate individuals and groundbreakers at heart, but they can also exemplify financial resilience, embodying the qualities of true stewards of their finances. And in the process help shape a legacy for others to follow.” highlights managing director, Wikus Olivier. Financial Resilience means being prepared to handle and overcome unexpected financial events, such as dealing with sudden expenses resulting from changes in the economy, interest rate adjustments, or medical emergencies. In today’s [...]

Posted By Carla OberholzerCategory: UncategorizedComments: 0

26May-23

Important Update: South African Reserve Bank Repo Rate Increase

With the recent Repo Rate hike, borrowing costs have been brought to their highest level since May 2009. We understand that this news may cause some concerns, but let’s take a moment to gain some perspective. “In difficult times, it’s important to remember that we have overcome challenges before. During the financial crisis of 2008, the Repo Rate was over 11% and much higher than the current increase relating up to 8.25%. So, don’t be disheartened. History has shown that [...]

Posted By Carla OberholzerCategory: UncategorizedComments: 0

17Nov-19

Debt Intervention – Part 3

Can a consumer apply for credit after debt intervention? In order to be able to apply for credit again a consumer needs to have completed a few very specific steps. The consumer needs to complete the debt intervention successfully by fully settling the accounts included or having those account extinguished.The consumer also needs to illustrate that they have improved their knowledge on managing finances through attending financial literacy training. The consumer’s financial situation must have improved.The consumer needs to apply for rehabilitation.The NCR must notify all credit bureaus and relevant [...]

Posted By adminCategory: UncategorizedTags: Apply for Credit, Debt interventionComments: 0

12Nov-19

Debt Intervention – Part 2

Debt Intervention – Re-Arrangement or Restructuring of debt The National Credit Regulator will firstly attempt to re-structure a consumer’s debt to solve within a maximum period of 5 years. The NCR must consider the income and expenses of the consumer and look at future possible income and employment opportunities of the consumer when making a determination if the debt can be restructured or if it should be suspended. The NCR will then make a recommendation to extend payment periods and reduce interest rates in an attempt to [...]

Posted By adminCategory: UncategorizedComments: 0

5Nov-19

Debt Intervention – Part 1

What is Debt Intervention? The president has signed the controversial Credit Amendment Bill into law and thousands of consumers are wondering if they will be able to benefit from the provisions of this bill and if they will qualify for Debt Intervention as defined in the bill. CreditSmart would like to debunk some of the rumors and give some clarity regarding Debt Intervention. There are thousands of consumers who seem to interpret the rumors as an indication that their debt will be extinguished, which is not [...]

Posted By adminCategory: UncategorizedTags: Debt Forgiveness, Debt interventionComments: 0