Finance Minister Enoch Godongwana’s recent budget revealed a deepening deficit of 4.9%, indicating that times are tough. The South African government has racked up an additional R356 billion in debt, and the cost of living is straining economic growth. In an ideal world, we’d all have six months’ worth of […]
As the year slowly draws to a close, it is a sensible time for South African workers to reflect on their financial well-being and explore tips to enhance their financial security. Whether just starting your career journey or nearing retirement, implementing sound financial practices is essential for long-term prosperity. In […]
How to avoid blacklisting is a common question. However, “blacklisting” isn’t used in the credit industry. This is because the credit bureaus now keep both the bad and good aspects of your credit history, whereas previously they used to keep only the negative information. Read: Demystifying What Blacklisting Means in […]
One thing that is undeniable is that an increasing number of South Africans are really feeling the pressures of credit and falling into a debt trap. These financial pressures are making it extremely difficult for many South Africans to get ahead of all their debts. South Africans have a debt […]
The numbers don’t lie – there’s over R2.5 trillion in personal debt in South Africa right now. Even more staggering is that R70 billion to R100 billion of that belongs to consumers already undergoing debt counselling. According to Benay Sager, Chairperson of the NDCA, South Africa has a world-class debt […]
Did you know that the fear of losing assets while under debt review is a genuine concern for people and prevents many from seeking debt counselling. However, the fear is unfounded as debt review protects your assets. Read: Car repossession rules while under debt review One of the numerous benefits […]
As the year wraps up, the festive season comes alive, filled with excitement, family gatherings, and of course, shopping! With Christmas just around the corner, many South Africans are counting down the days to Black Friday – a perfect time to get those holiday gifts sorted without emptying the bank […]
In September 2024, the South African Reserve Bank (SARB) finally delivered some financial relief, cutting its repo rate by 25 basis points (bps) from 8.25% to 8.00%. The rate cut indeed kicked-started a gradual interest rate easing cycle after more than four years without cuts. Although an apparently small adjustment, […]
The two-pot system is officially live after being signed into law on 1 June 2024 by President Cyril Ramaphosa. The new two-pot system came into effect on the 1st of September 2024, and many South Africans are rushing to reap the benefits – But caution should be used! Previously, we […]
The first rule of thumb with the Debt Review journey is that you need to entrust your finances with reliable debt counsellors. While an array of debt review specialists are available online, selecting the first Google search result isn’t always the best idea. It would be advisable to find an NCR-registered debt […]
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