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 Rating agencies may come knocking

It is only the middle of February, but the rand has already made two big moves. The first was the rand moving from R14.60 to R 13.20 at the beginning of the year, as emerging markets (EM) became fashionable again. The second was where the rand gave away nearly 90 cents in 2 weeks as the EM rally ran out of steam, and local events started to hit the headlines.

Read more

The cost of sending money home to neighbouring countries

Transferring money home within the Southern African Development Community (SADC) provides vital financial support for many households in neighbouring countries.

Read more

Student bank accounts: Which come out on top?

Being a student signals budgeting and not having a lot of money at your disposal. This means streamlining expenses such as your grocery costs and entertainment budget. But what if your bank account is in fact costing you more than you can afford?

Read more

Can you afford an ambulance in South Africa?

When a loved one is straddling the line between life and death, you won’t hesitate to call an ambulance. This week, Justmoney found out how much an ambulance ride costs in South Africa, whether you can refuse to get into an ambulance, and who pays the bill if you’re unconscious. 

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

President Hotel Easter Special

Price: From R1,500
When: 15 March to 30 April
Where: Cape Town

Kulula-Preskil Island Resort Special

Price: R16,999
When: 11 May -14 September
Where: Mauritius

A Touch Of Madness Tuck In Tuesday Special

Price: R70
When: Tuesdays
Where: Cape Town