Guiding consumers since 2009

Cash flow problems? What's your best option?

By Staff Writer

Cash flow problems? What's your best option?

*Personal Loan?
*Credit Card?
*Debt management?
 

 

If you need cash, and who doesn't, there are a number of ways to get it. Each person will have a solution that is best for their own personal circumstances so here are a bunch of options that are available to you.

Personal loan 

A personal loan will only stretch to R30 0000, and the lender will have to be certain that you can pay it off. This may be the way to take care of your smaller debts.

Credit card

There are a number of credit cards that offer a good rate, but it depends what you use it for. If you want to pay off your credit card then get a Balance Transfer card where you pay a low low interest rate, but that rate only counts if you make no new purchases. For general use get a credit card with the lowest interest rate if you keep a negative balance and don't pay off your card each month, or the highest credit interest paid if you not only pay off your spend, but also keep a positive balance on your card, or one with the best rewards if you pay off your balance and want benefits such as air miles.

Debt

If you have a property you could look to consolidate your debts with a bigger mortgage, known as debt consolidation. Otherwise, shopping around for a new mortgage could help to lower your repayments, click here for our debt consolidation calculator. If you are having difficulties in meeting your debt repayment obligations, or if you have fallen behind with your debt payments, you may need debt management where an expert can help you to restructure your debts and pay them off with one monthly figure.

 

Recent Articles

Featured It’s possible to change your marriage regime

Many people wed before they sign an antenuptial contract (ANC). This is especially practiced by people in customary marriages and those not clued up about the ANC. The law says if there’s no ANC before the wedding takes place, the marriage will automatically be in Community of Property. 

Keep this in mind when taking out new financial products

Adding a product to your personal finance portfolio, such as insurance or an investment, is a big decision. We found out what you should keep in mind before taking out a new product, how you can assess the products you already have, and how you can generally improve your financial position.

Are you in debt denial?

With debt levels increasing at 13% more than income levels, South Africans are more debt-stressed now than arguably ever before. This is iterated by the National Credit Regulator’s (NCR) report that nearly half of credit-active consumers in South Africa have damaged credit records. However, only a few seek the necessary help.

Why should you invest in a mutual bank?

Often when people think about banking, they always think about commercial banks. Mutual banks hardly come to mind, but these banks offer investment opportunities that are often overlooked.

 

Deals

Aurora Spa 100-minute Treatment Special

Price: R449
When: Until 31 March
Where: Century City

Woodstock Grill and Tap Steak Thursdays

Price: R100
When: Thursdays
Where: Woodstock

KFC 5+5 Special

Price: R65
When: Until 25 February 2020
Where: Nationwide