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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....
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...
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...
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...
This week many of South Africa’s excited shoppers prepare themselves for Black Friday where they will enjoy some of the year’s best bargains and sales offered by many retailers. With Black Friday comes both temptation and responsibility. It is important that consumers do proper research and preparation beforehand so that they are less likely to...
Overspending is a big problem in many households with living expenses skyrocketing and the constant pressure you feel to “keep up with the Joneses”. These pressures you are experiencing are being amplified by the increasing exposure you are getting from social media platforms.
It’s not unusual to be feeling more and more cash-strapped as the cold weather rolls in. Winter months are generally tougher as they bring added expenses. Many pray for a miracle or a bit of divine intervention just to get by each month.
2015 has been a tough financial year for many South Africans. We have had repo rate increases, load shedding, a drought, a weakening rand, increased food and electricity prices and a shaky economy. There is still a lot of uncertainty and financial stress as we move towards 2016. Now is a good time to work out how to manage debt problems so that you can welcome the New Year with reduced debt stress.
The holidays are here and as we get wrapped up in the excitement of the festivities it becomes easy to overspend, leaving you high and dry in January. Here are 5 debt help tips to help you stay financially festive.
There are usually several tell-tale signs that you need assistance with managing your debt. What many consumers don’t realise is that there are formal and regulated solutions put in place to help you through this tough financial situation and to guide you to becoming debt free. Ignoring these signs will only make the problem worse....
Budget when you need debt help If you find yourself in need of debt help and struggling to make ends meet, it’s likely that your budget (or lack thereof) doesn’t reflect your earnings. Budgeting can prevent getting kicked out of your house, increased debt as well as ruining your credit profile. It’s never too late...
The winter season is upon us. This can cause you to overspend on items which will keep you warm. Sometimes, overspending on food and clothing during winter can leave you with little or no money for more important things like paying your monthly debt counselling payment. To make sure that you don’t miss debt repayment or bust budget on...