Guiding consumers since 2009

The party is over

By Staff Writer

Insolvency figures show that spend party is over

From Business Report
By Adam Harris

The most recent liquidation statistics suggest that the party of the past few years is over; that it's time to call it a day. The key findings recently published by Statistics SA reflect trends that are both worrying and significant.

The total number of liquidations recorded for the first four months of this year increased by 10.5 percent compared with the same period last year.

Justmoney.co.za says:

With the pressures on the economy expected to get worse, make sure that your finances are fixed up. Check that your savings accounts and bank accounts are giving you what you think they are.
Compare whether your credit card is providing the best possible deal.
Review your vehicle insurance and your life insurance. Consider whether a personal loan might be neccessary to consolidate your debt. Seek debt management before it is too late.

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