It's coming to that time of year when many people may have an end of year bonus to look forward to.
Whilst your first thought may be to go out and splash it, you should resist the temptation.
So what should you do with your bonus instead?
Read on to find out…
What you can do with your bonus
There are definitely ways you can put your bonus to better work than splashing it on u... ››› more
Wouldn't you like to pay your house off six years earlier and save R500,000 in the process?
Just imagine the freedom you'll have knowing you've conquered one of your largest debts.
If you can beat your biggest debt, the smaller ones will feel like nothing!
Well, today I've found a special solution to do just that - without changing your lifestyle.
But wait… I haven't even told you ho... ››› more
Do you feel stuck in debt? With every purchase you make, do you get sink deeper and deeper into debt? Then it's time to take action and work on paying off your debt as quickly as possible.
While it may take years to completely pay off your debt, it's highly advisable that you take action starting now, instead of postponing it to an unknown future date.
Here is how to pay off your debt strate... ››› more
So you've decided it's time to get rid of the debt that has been piling up. Good for you! Making the decision to tackle your debt is an important one.
The next step would be to decide on a debt payment method. You may be familiar with the two popular debt pay-off strategies: Snowball and Avalanche.
Today we’ll take a closer look at both of them to better understand what they entail and whic... ››› more
We know you're in a terrible hurry to get rid of debt. But certain debt reducing strategies may be more detrimental than beneficial.
Don't choose the quick and easy way out because it rarely works. Here are some debt reducing strategies that are dangerous to your financial well-being.
1. Borrowing money from your retirement account
Paying off your current debt may be on top of your to-do... ››› more
Poor money management skills and overspending can lead to serious debt problems. It's quite easy to get into debt, getting out of debt is much more difficult, however.
With determination and hard work, you can reduce your debt without resorting to costly debt advisors. Here are a few tips to help you cut your debt in half.
Evaluate your debts
Gather up all your debt statements and finan... ››› more
If you are buried in debt and feel like there is no way out, it's time to seek real solutions to your problem. Not being able to handle your debt can be extremely stressful, so it's a good idea to seek counselling from a debt advisor.
Debt review is the process through which a financial advisor performs a financial assessment and determines the best methods of managing and paying off the debt. ... ››› more
Are you struggling with debt? There's only one way out: take action.
Take control of your debt by implementing the following strategies.
1. Determine your current debt situation
Before you can take appropriate action, you need to know where you stand. Find out how much money you currently owe.
2. Choose your plan of action
You can choose to pay the lowest or the highest balance... ››› more
Debt is often a cause of stress and unhappiness. The more debt you have, the more stressed out you are.
Sometimes, it seems that you have lost all control and that debt has won. But, rest assured, you can gain back the power and get rid of debt once and for all. It won't be easy, but it will surely be worth it.
How do you take back control of your finances and manage to pay off debt in full?... ››› more
Are you still struggling to pay off your credit card debt?
Are you implementing sound financial planning strategies or are you just going with the flow? Because the way you handle your credit card debt could change your financial future.
Instead of stressing out and getting into even more debt, calm yourself down and use these simple strategies to get rid of credit card debt for good.
T... ››› more
If you're having trouble paying off your debt and can't seem to take control of your finances, then you need to take action as quickly as possible.
The first thing you should do is prioritize your debts and try to pay off the largest ones first.
Make it a priority to pay off the most important debts first, such as your mortgage, rent, bills, income tax, VAT, and any secured loans.
Then,... ››› more
Debt is a frequent problem in South Africa, with more consumers having missed three or more monthly debt payments.
Choosing a debt counsellor to assist you in getting rid of debt is a wise decision.
However, you must consider several factors when choosing a debt counsellor, including reliability, accreditation, and costs.
A debt counsellor can assist you in paying off your debt. Your cred... ››› more
University tuition fees are on the rise, so it's only normal that more and more young people are taking student loans in order to pay for college.
The problem is paying back these student loans. It can take decades to pay off a student loan if you're not disciplined. But if you commit yourself to paying off the loan as quickly as possible, you can achieve your goals in only a few years time.
... ››› more
If you're struggling with debt, perhaps debt consolidation has crossed your mind as a viable solution.
Debt consolidation advertisements are everywhere - you can't miss them. However, you should be aware that there are many scammers out there who pretend to make your debts magically disappear in exchange for your last money. Don't fall into their trap!
Debt consolidation is by no means a ma... ››› more
Looking to dry up your debt? Sappi is too, by refinancing its $2.1 billion debt at more favourable rates. But there's a better way to get out of debt if you're facing a smaller amount than this. It's as easy as 1,2,3…
Sappi’s strategic move towards higher-margin businesses will incur more debt in the short term, says the FinancialMail.
Many people make a similar m... ››› more
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Editors or contributors may have an interest in investments commented on in this newsletter. However they have signed restraints to prevent the abuse of their position as contributors to this publication.