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Published

October
7

Difference between credit and debt explained

Many people use the words credit and debt interchangeably, as though their meanings are the same. DebtBusters explains the terms to clear the confusion. What is credit? There are so many ways to define credit. It could be the amount that is available for you to borrow or it could be your ability to borrow. […]

September
23

Know your good debt from your bad debt

Many people are trying their best to lead a debt-free life. Even though it has its perks, incurring debt can also be a good thing. You just need to differentiate between good debt and bad debt. In short, good debt helps you generate income and bad debt doesn’t. Below are examples of good and bad […]

September
23

Spring is here: it’s time to clean up your finances!

Spring is a great time to reflect on your finances. You might have taken more debt than you can repay or spent more than you can afford, but there are four steps you can take to bring renewed hope to your finances. Review your budget Our goals change now and then. So, this may be […]

September
23

How does migration affect debt counselling?

People move in and out of the country for different reasons. In many cases these people carry more than their luggage with them, they carry their debt, and some of them are under debt counselling. This is usually a cause for concern for these individuals as they don’t know how their migration will affect their […]

August
30

Prioritise your debt using the avalanche method

When you have a lot of debt with various providers, it can be difficult to focus on which credit agreements to settle or contribute to first if you come into a lump sum of money. There are two techniques that are generally used when it comes to prioritising which debt to pay off first. You […]

August
30

Why it’s vital to have credit life cover in place

Credit life cover is one of the last things that people think about when they are doing their financial planning. In fact, the National Credit Regulator has found that many people do not know it exists and what it entails. But purchasing credit life cover is one of the best things that you can do […]

August
28

When life deals you lemons, make money instead – advice for women in transition

Women face a number of challenges and transition between the ages of 25 and 69. Some of these challenges can be attributed to the financial transitions they experience. These transitions can range from landing their first job, marriage, childbirth, losing a spouse through divorce or death, retrenchment, terminal illness and retirement. Both women and men […]

August
13

Taking charge of your debt can benefit your family life

Buying on credit can help fulfil your family’s needs and dreams – schooling, clothes, family holidays etc. These things do not come cheap, but the actual price can be costlier than you think. Being over-indebted can cause anxiety, loneliness, depression, and anger. You may think that, since you are the one who is struggling to […]

July
24

Expectations VS. Reality – When life happens!

Contrary to the stigma that consumers are indebted as a result of reckless spending or borrowing, most consumers who approach DebtBusters for assistance do so as a result of unforeseen circumstances. Many young people set huge expectations for themselves even before they’ve entered the ‘real world’. There is often a set idea of what success […]

July
24

Escape the debt cycle in six steps

Borrowing money can assist you with a difficult, unforeseen emergency, but once you start relying on it for your daily survival, you’re creating a cycle that becomes increasingly harder to escape.  How does the debt cycle work? The debt cycle can begin when you take out a loan during an emergency – for instance, a […]

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