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Dealing with over-indebtedness Debt can create a snowball effect that generates even more debt. When debt repayment pressure becomes too much to handle and you cannot meet all your monthly obligations, you are officially classified as "over-indebted." Let us take an example: Say you earn R20,000 per month, but your...
Financial literacy basically refers to your ability to learn, understand, and apply various financial tools, skills, and decision-making processes in order to make financially wise and quality decisions. You were not born financially smart or dumb; your financial knowledge or ignorance developed over a period of time. So it effectively...
No one ever wants to be in a debt trap forever, but it happens, and at that point, when there are no other options left, debt consolidation seems to be the answer—or not? It can help you regain control over your finances temporarily and stop letting that debt destroy the...
Can you remember when you first really thought or heard about the subject of Retirement? Chances are, it was when you were in your 20s, maybe you were just offered your first part-time job and the subject of retirement was touted around amongst the permanent much-matured employees yet for you...
We all agreed that credit cards make purchases and paying your bills easier. Using a credit card is also a good way to boost your credit score. However, failing to properly manage your credit cards can lead to a lot of unnecessary expenses, negative listings, headaches, and stress. If you're...
Excessive debt is the most common source of concern for most people, particularly Baby Boomers, not forgetting the millenia who are trapped in millions of Rands (dollars) of debt and unable to escape, forcing them to work in their later years when they should be retiring or nearing retirement. This...
"The Richest Man in Babylon" written by George S. Clason is a quick-read thin timeless classic book that has been acclaimed as the greatest of all inspirational works on the subject of financial prudence, financial planning, and generating personal wealth. It was written back in the 1920s however the same...