Is feeding your family breaking your budget? Try these ten debt management tips to reduce the cost of food, without sacrificing fun, health or flavour.
Children need feeding every day, and all those meals quickly add up, especially with the rand plummeting and everything else on the increase. Of course, feeding your children nutritious and satisfying food is the one thing that parents should never skimp on, but mealtimes can be done on a budget without compromising on taste or nutrition.
25 April 2018
As we’ve just celebrated our country’s 24th year of democracy, those who have taken control of their finances and embarked on the Debt Counselling journey have even more to be proud of.
Just think how great it is going to feel to get to that point of real financial liberation! Now that is true freedom.
DebtBusters wants to take the time to celebrate all the amazing and inspirational clients who have taken the giant leap towards financial freedom and are currently taking one step closer to achieving this each day.
Let’s see how far you have come
You decided it was time to do something about your financial situation and took the admirable step to apply for debt counselling. You approached DebtBusters and together we restructured your debt repayment plan and negotiated lower interest rates and fees with your creditors. You also received legal protection from your creditors, so now you can sleep peacefully at night knowing that your assets are safe and that you don’t have to worry about those scary calls from creditors.
You are now paying a lowered monthly repayment every month which brings you closer and closer to achieving debt freedom. How awesome is that?
Let’s see what you can look forward to
You can of course look forward to receiving your clearance certificate at the end of your debt counselling journey. This is to confirm that you have settled all your debt as per your debt restructure plan. Once the Credit Bureaus receive your clearance certificate, they will remove the debt counselling flag from your profile. In addition to this they will remove all the default listings (if the account(s) was under debt counselling). The only record that will remain is your payment history. According to the Credit Act, your payment history will remain on your record for two years.
Here are some tips to help you along this journey
- Review and stick to your monthly budget.
- Make your restructured debt repayment on time each month. This is very important.
- Review your insurance policies and make sure you are adequately covered and paying the best rate possible.
- Build up an emergency savings account to help you out during those unforeseen events.
- If you come into a lump sum of money, put it towards settling your debt. Consider using our Debt Settlement Team – they know how to negotiate great settlement discounts, sometimes as much as 20% off!
- You can also get out of the debt counselling process sooner by increasing your monthly payment.