In a climate marked by economic uncertainty, the South African Reserve Bank (SARB) recently announced its decision to maintain the interest rates unchanged at 8.25%, with the prime lending rate remaining at 11.75%. This decision marks the Monetary Policy Committee’s (MPC) seventh consecutive meeting, where rates have been held steady, […]
The road to financial independence can seem dark and dangerous, but it’s easy enough to light the way with these simple tips for managing your money and destroying your debt. 1. Track Your Spending Right now, given the state of the economy it is more important than ever to keep […]
Navigating the tax season in South Africa can be daunting, especially with the ever-changing regulations and deadlines. Understanding the process is essential to avoid additional debt and penalties. This comprehensive guide aims to demystify the tax season, providing valuable insights on filing returns, managing taxes, and dealing with debt. Read: […]
South Africans have welcomed the news of fuel price decreases, but the sharp rise in electricity costs somewhat tempers this relief. On the one hand, there’s some welcome relief at the petrol pumps, while on the other, electricity costs are on the rise. Navigating these financial fluctuations is crucial, especially […]
Accumulating debt is a fundamental part of the financial world, however, getting yourself into debt you can’t handle is not. There are ways that you can combat your debt through the very thing rumoured to cause it – yip, your credit card. Most people overwhelmingly choose ineffective strategies for paying […]
On June 1, 2024, President Cyril Ramaphosa signed the Revenue Laws Amendment Bill of 2023 into law, introducing a revolutionary two-pot system. This progressive legislation, set to take effect on September 1, 2024, is designed to cater to the dual needs of long-term financial security and immediate access to funds […]
Removal from debt review could be complicated and require you to adhere to strict guidelines. We’ve broken down the process to help you to exit successfully. If you find yourself under debt review, but you’ve had a change of heart or your financial circumstances have changed, you may be considering […]
Debt is a common financial challenge for many South Africans, impacting many individuals and households. Understanding the different types of debt and the options available to manage and eliminate it is crucial for maintaining financial health. This guide provides an overview of the different debt types in South Africa, including […]
The term over-indebtedness applies to those who currently have credit repayments that exceed their current income. In such cases, you could be turned down for a credit application as taking on the additional financial commitment could cause you to be over-indebted. Read: 10 Warning signs that you have a debt […]
Over the past five years, the cost of groceries in South Africa has surged dramatically. This increase presents a significant challenge for households trying to manage their budgets. For instance, a family that used to spend R5000 on groceries in May 2019 now has to shell out approximately R2,280 more […]
1ST FLOOR ICON BUILDING
24 HANS STRIJDOM AVENUE
CAPE TOWN
WESTERN CAPE
8000
Registered in terms of the National Credit Act – NCRDC 4077