The National Credit Act brought into life the process called debt counselling… As debt counsellors, we’re allowed to lower monthly payments… The Act provides a lot of protection…— Neil Roets, Debt Rescue
It’s a new year and time for a fresh financial start.
Citadel’s Daryl Coker recently wrote an article with the following seven money-saving tips to get your finances in shape:
Review your budget.
Pay back the money.
Price-check your short-term insurance.
Be smart when dealing with school fees.
Pay less tax.
- Think about timing when buying a car.
Click here for more detail on each of these seven tips.
White asked Roets to provide advice to those who are drowning in debt after the excesses of festive season spending, back-to-school costs, etc.
For more detail listen to the interview in the audio below (and/or scroll down for more quotes from it).
More than half of all credit consumers in South Africa are over-indebted… the situation doesn’t look good… We do not have a savings culture…— Neil Roets, Debt Rescue
South Africans are not really financially literate… Even people with degrees go into the workforce without any financial education whatsoever… They fall prey to credit providers…— Neil Roets, Debt Rescue
The banks still need to make money, and they make money by giving out loans… We’ve seen a massive increase in unsecured loans…— Neil Roets, Debt Rescue
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Recommendedby NEWSROOM AI
Making ends meet, investments, property, debt, financial freedom… these were the very best "your money" articles of the year.
The market is toast. Don’t leak money! Bruce Whitfield interviews Craig Gradidge, South Africa’s top wealth manager.
The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.
A simple savings plan for people who don’t like to budget. Bruce Whitfield interviews personal finance guru Warren Ingram.
The Money Show’s Bruce Whitfield interviews Daniel Baines, author of “How to get a SARS Refund”.
The economy is toast. Personal finance expert Warren Ingram shares 13 highly effective tips for making ends meet.
The account costs R4.95 per month; you get 1GB of free data. Swipe 4 times a month; you get 0.5GB of free data and R50 airtime.
Is there an investment case for MultiChoice? Arabile Gumede interviews Jacques Plaut, a Portfolio Manager at Allan Gray.
Google is suspending its business relationship with Chinese smartphone manufacturer.
Former National Council of Provinces chairperson Thandi Modise is expected to be the next speaker of the National Assembly.
The Glamour Boys lost the Nedbank Cup final to underdogs TS Galaxy on Saturday.
News24 editor-in-chief Adriaan Basson says there is a definite fight back from the ANC secretary-general against the president.
A video of a young man kicking actor and former US governor Arnold Schwarzenegger in the back on Saturday in Joburg went viral.