We have all heard that saying, “money makes the world go round”. In fact, that statement is completely incorrect. The actual truth is that CREDIT makes the world go around. Without access to credit, the world economy will collapse, and poverty will be far worse than it is now. Having a dream of being debt free is great, and one should always work toward it if that is your goal. The reality for most consumers in South Africa and the [...]
Applying for a loan or a credit card can be exciting. Having extra cash available for your holiday or an unplanned shopping spree can be exhilarating but every high unfortunately will end in a low. In this case the low comes in the form of a monthly payment usually in the shape of a debit order and the money you spent in a matter of weeks will now take years to repay. Symptoms of a debt hangover may include – [...]
Recent studies have shown that only one out of every three individuals prepare a detailed written or computerized budget on a monthly basis. Even fewer individuals prepare a detailed long term financial plan. ‘’Why go through the hassle of drawing up a household or personal budget in the first place?’’ -you may ask. Financial planning is needed to plan our spending, and without this planning it is easier to overspend on the non essentials. When drawing up a budget you [...]
