Seasons come and seasons go. Spring is here and it’s time for a fresh start for your finances. You know that old, old debt that you have almost forgotten about but still lingers in the back of your mind? Well, it is important to know that you may not have to pay that debt back anymore. This is due to a legal clause known as prescribed debt.
6 May 2016
Mother’s Day is the one day in the year that we celebrate mothers and get to thank them for everything they have done and sacrificed for us. Commercial hype leading up to mother’s day is massive and specifically designed to lure last minute shoppers. Debt traps are everywhere, from overpriced flowers to pretty, nicely packaged, ready-made gift packs. The truth is, there is no price tag too high for your mom!
Wendy Monkley, Head of Marketing at DebtBusters warns “Don’t spend irresponsibly this mother’s day. Your mom wouldn’t want you to get into financial difficulty because you bought her a gift. If you really want to spend something on your mom, spend your time with her.”
In South Africa, there are over 21 million credit active consumers, of which nearly half have impaired credit record (meaning they have missed 3 or more monthly debt repayments or currently have an adverse listing, judgement or administration order). “Times are really tough at the moment and the cost of living is high,” adds Monkley.
Here are five great, cost effective ways for you to spoil your mom this year:
- Pick her flowers from the garden. Arrange them in a vase and add a special card, written from your heart.
- Get up early and make her breakfast, allow her time to sleep in.
- Ban your mom from doing any house work for the day. Make sure you divide up the chores between your family members, and take turns to be at her beck and call. Treat her like a queen for the day.
- Create your own vouchers that she can cash in on at any time in the next year, for example, a cup of tea, cook dinner, do the shopping, do the washing. She will really love this gift.
- Play card and board games; include the whole family and make sure all technology is put away. Focus on each other and spend time together. It will be the best mother’s day she has ever had.