Debt counselling, do you need it?

By Staff Writer

What price salvation?

By Iona Minton

From iAfrica.com

Sky-high interest rates and a few more hikes on the horizon are leading an increasing number of people to seek the advice of debt-counsellors. Many hope the counsellor will wave a magic wand and turn their hefty payments into a thing of the past. This is, however, not the case as the review process does not make debt disappear, but merely extends the period over which it is paid.

Justmoney.co.za says:

The increase was not as bad as expected, but already analysts are warning that another hike is on the cards. Uncle Tito has given us a smidgen of breathing space and a deep collective breath should be taken. While you can still breathe consolidate your debt, compare your credit card companies and work out if you need debt counselling.

Recent Articles

Featured Which one should you get first: life cover or a retirement annuity?

Financial planning can be a brain-racking process because it means making difficult decisions such as choosing the most suitable products for you. The one challenge faced by those who are financially constrained is which product to choose: life cover or a retirement annuity (RA).

Read more

Should you save or invest your money?

While saving means putting away cash for future use, investment involves purchasing assets which will yield good returns in the future.

Read more

Retirement annuities compared – pick the one for you

When selecting an RA you must know the type of annuity you are investing in. Retirement annuities are divided into two categories: traditional and new generation annuities.

Read more

Recent tax changes – how do they affect you?

In January this year, various amendments to the Taxation Laws Amendment Bill and the Tax Administration Act were announced. While some changes will benefit you, others could be to your disadvantage. Justmoney looks at how some of the recent changes will impact you.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Save R100 when you buy a tracker at Takealot

Price: R289
When: Daily
Where: Online

Pamper yourself and partner for less at Bakwena Day Spa

Price: From R999
When: Until 31 July
Where: Hartbeespoort

Pay only R35 for the new Nandos Boujee Bowl

Price: R35
When: Daily
Where: Nationwide