Credit score is a concept which is shrouded in mystery. Yet the power of these 3 numbers seems to be one of the greatest influences when it comes your financial health. However, for most of us, by the time we start recognising the power of these mysteries numbers, it might be too late. What does a credit score indicate? Having a good …
Debt Consolidation is a type of loan that helps people to pay off their debts. It’s also known as debt settlement. With this, the borrower will combine the different types of credit cards, auto loans, student loans and mortgages into one payment at a lower interest rate. Debt consolidation is an important decision to make …
Debt Review in South Africa is a debt relief program that assists consumers who are in too much debt to get out of it. In 2007, the National Credit Act (NCA), introduced this process to protect consumers from being blacklisted, and to help them deal with the consequences. This is a great option for South …
Are Short Term Loans Bad? We are often told that all debt is bad. We are told to be scared. They tell us to stay out of debt. But many professionals have said that Debt is useful and safe if used correctly. The likes of Robert Kiyosaki (Author of Rich Dad Poor Dad) have said …
In a world where the unexpected has become the expected, we have to prepare for the unexpected. We often look and plan to grow our savings and emergency funds to cover these unforeseen expenses. But what happens if we are not there yet, or too much happens at once? This is when we turn to …
The credit crisis – defining debt. Plainly put, to be in debt is to owe money to a creditor. Credit Card Debt is a common type of debt. Creditors allow you to make purchases directly without asking you to pay for anything upfront. Instead, creditors lend you the money for now and ask you to …
Why I should avoid Payday loans We all have bad months where the unexpected happens. And this is when we look to borrow some money to get us through the month. A very well advertised and often used option are payday loans. These loans lend you money on a short term basis to be paid …
Should I get a Credit Card? Credit Cards can be great or can be catastrophic, depending on who you ask. They have many great aspects but the Debt aspect is what scares people away! Here are 3 questions I ask myself before getting a Credit Card: What are the Fees? Credit Card Fees like bank …
