Managing your debt after the party

By Staff Writer

It is 2010, the start of a New Year, but that does not mean that the hangover from last year won't follow us into this year. Traditionally the end of year is a time for excessive spending and yet again this has happened. Now we have to deal with the debt hangover that was wracked up at the end of 2009. There are ways for you to get your debt under control however, and these are some of the things that you can do.

 

 

The first step is to plan a budget and be very realistic, don't estimate, put the actual figures in from your bank statement. The need to be realistic is paramount because if your budget plan is not going to be able to be kept to, you will need to go back and plan it again. Make sure that you are using real figures and set your self goals that you can achieve rather than would just like to achieve.

If you feel that it is slipping out of your control and that your debt troubles are running away from you and that you are always chasing that next payment. you can consider engaging the services of a regulated debt management firm who will be able to assist you with planning your budget, negotiating payment plans with the people that you owe money to and helping you to protect your assets if you are over-indebted and struggling to meet your payments.

Recent Articles

Featured Register your customary marriage or lose the right to inherit estate

December is that time of the year when we will see at least one suitor sending his uncles to negotiate the price of his future wife. Lobola, as the bride price is known, has always been an important element of the African marriage.

Read more

Changing from one medical scheme to another - effortlessly

It is coming up to the end of the year and you might be looking to change medical schemes, or options within a scheme in preparation for the new year. While you don’t necessarily have to wait for year-end to do so, providers often recommend it.

Read more

Your guide to financially surviving Christmas

There are a few times each year where you need to dig deeper into your pocket and spend more money such as birthdays, anniversaries, and the Christmas period. Whether you celebrate this religious holiday or not, the festive period - depending on how you choose to spend it - means increased travelling, buying of gifts, entertaining, and eating out at restaurants.


Read more

Trump, Trump and a little bit of South Africa

What a November we had, with the rand staging one of its best months and closing below the R14.00 level. To be honest, this looked like quite a far-fetched possibility at one stage during the month. It seems that the tide has changed a little, even though it might be short lived since the US dollar bulls are not so sure of their case anymore.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Free iCollege Scholarship

Price: R600
When: Until 16 May 2019
Where: Nationwide

Telkom December Big Deal

Price: R459 pm
When: Until 31 December
Where: Nationwide

Money Savvy Kids Giveaway

Price: R450
When: 8 December
Where: Johannesburg (Milpark)