How will the hike hit you ?

By Staff Writer

How hike will affect you

By Abdul Milazi

From Thetimes.co.za 

Things will get worse for consumers before they get better, that everybody knows by now. But just how bad is the question.

Paul Beadle, managing director of SA's on-line guide to money, www.justmoney.co.za, told Business Times that if Reserve Bank Governor Tito Mboweni increased interest rates by even 1% , let alone 2% , ‘‘a lot of people will be pushed over the edge into bankruptcy".

Justmoney.co.za says:

The widely expected interest rate rise could lead you to be paying a whack load more than you had bargained for. Even a small rise in the interest rate can have a huge knock on effect. Check out your home loan, consolidate your debt and compare credit cards. The crunch is here. Work out what could happen to you.

Recent Articles

Featured How can debt counselling keep creditors away?

Among the many benefits of debt counselling is its ability to keep creditors from hounding you, leaving you with some measure of peace while you figure out how to repay your debt.

What are debt collectors not allowed to do?

Debt - if not managed - can seem like a dark cloud looming. But, you do have rights.

Should you authorize a minor on your credit card?

If you have children who need to move around independently, it may be practical to authorize them as users on your credit card. However, is this the right thing to do?

Economic devastation sees rapid rise in debt counselling

A survey conducted by DebtBusters indicates that consumers are increasingly turning to debt counselling.

Deals

Wednesday Burger Nights at The Vineyard

Price: R190
When: Wednesdays
Where: Cape Town

Sanctuary Touch Monthly Special at Sanctuary Spa

Price: R490
When: Mondays to Sundays
Where: Cape Town

Blowdry Packages at Oayssis Hair and Beauty Bar

Price: R850 to R1800
When: Anytime
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions