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 Your guide to debt counselling

The National Credit Regulator (NCR) reported more than 20 million consumers to be in debt in 2018 and 40% of them were behind with their payments. Due to the economic conditions in the country, many consumers find themselves incurring too much debt that they cannot repay.

Read more

Should you take a sabbatical this year?

In South Africa, sabbaticals are not as common among the general workforce – but they have become popular among executives and CEO’s. Justmoney finds out what a sabbatical is, how to convince your employer to let you take one, and how to manage your finances before and while you’re away.

Read more

A photographer’s journey into entrepreneurship

This week Justmoney chatted to this 25-year-old to understand what makes her tick, what her thoughts on money management are, and the financial advice she has for other young entrepreneurs.

Read more

Travel insurance through medical aid: Is it enough?

Having travel insurance as an added benefit with your medical aid is common practise, but what does it cover and is it enough?

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Steers Varsity Cup Monday Madness

Price: R59
When: Mondays
Where: Kimberly

Old Mutual Actuarial Bursary

Price: R0
When: 26 March - 30 May
Where: Nationwide

Tsogo SunBreaks Vacay Special

Price: R1,115 per room
When: 15 -31 March
Where: Gauteng, Cape Town, and Durban