MyMoney Online, Personal Finance with Warren Ingram

Drowning in debt? How to break free (while paying lower monthly instalments)

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:

  • Set goals.

  • 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.

Ray White (in for Bruce Whitfield on The Money Show) interviewed Neil Roets, CEO at Debt Rescue.

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:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Tourism Grading Council of South Africa defends its grading system

Tourism Grading Council of South Africa defends its grading system

Bruce Whitfield interviews Darryl Erasmus, Chief Quality Assurance Officer at the Tourism Grading Council of South Africa.

'Do parties – especially the ANC – want to continue in the sea of mediocrity?'

'Do parties – especially the ANC – want to continue in the sea of mediocrity?'

Bruce Whitfield interviews Colin Coleman (MD, Goldman Sachs Sub Saharan Africa) and Busisiwe Mavuso (COO, Business Leadership SA).

You’re almost certainly – no matter what you believe - crap at investing

You’re almost certainly – no matter what you believe - crap at investing

Data shows that almost everyone sucks at investing, says Warren Ingram. Here's how to avoid shooting yourself in the foot.

Do you have farming equipment, wool, sewing machines or material to donate?

Do you have farming equipment, wool, sewing machines or material to donate?

Sibayeni Small Business Incubation Centre needs help to help 36 small businesses grow.

Zande provides credit via phone to spazas in the form of the goods they sell

Zande provides credit via phone to spazas in the form of the goods they sell

Bruce Whitfield interviews Siya Ntutela of Zande, a platform that allows small retailers to apply for credit and make payments.

How long to keep tax records available for inspection in South Africa

How long to keep tax records available for inspection in South Africa

Should you keep them "forever"? Tax expert Chris Sloane on the requirement to keep tax records available for inspection by Sars.

Popular articles
How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

New Ipsos poll shows ANC winning 2019 election, rates Ramaphosa a vote puller

New Ipsos poll shows ANC winning 2019 election, rates Ramaphosa a vote puller

Senior client officer at Ipsos, Mari Harris says President Cyril Ramaphosa's trust index is higher than other leaders.

FMF trauma will take years to overcome - award-winning activist Fasiha Hassan

FMF trauma will take years to overcome - award-winning activist Fasiha Hassan

Hassan won an international peace prize for her role in Fees Must Fall campaign. She spoke about the student movement and more.

46 women rescued in Joburg sex trafficking raid

46 women rescued in Joburg sex trafficking raid

An expert on human trafficking explains how the syndicate operates and how women are lured into dens.

'More black farm workers are killed than white farm workers'  - Johan Burger

'More black farm workers are killed than white farm workers'  - Johan Burger

Following a spate of farm murders in the Cape, the policing expert says there aren't enough stats available on farm killings.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Why is Mauritius rich and Madagascar poor?

Why is Mauritius rich and Madagascar poor?

Comparing Madagascar and Mauritius – a tale of two islands, by the Gordon Institute of Business Science's Dr Lyal White.