In today’s challenging economic climate consumers are eagerly searching for financial solutions to the ever-increasing cost of living, high interest rates on debt and unforeseen expenses that seem never-ending. Consumers who have significantly high debt compared to their income, are inundated with possible debt solutions from various companies which can be very confusing and leave
Financial decisions, big or small, can significantly impact your financial well-being, long-term stability and overall peace of mind. Here at DebtSafe, we aim to empower you by providing 10 essential questions to ask yourself before spending your hard-earned money or taking on debt, such as a loan or using credit: This foundational question helps you
Speaking to any South African, it will be a matter of minutes before the topic of living costs pops up. It’s a topic we can all relate to. The Outlier has detailed stats showing how specific food items have drastically increased costs over the years and it is worth checking out, but here are a few: Year-on-Year Increase The
Debt is as typical in South Africa as potholes. But there’s a big difference between simply owing money (indebtedness) and being over-indebted. Why the Distinction? Indebtedness means you owe money (like a loan, credit card, or some other financial obligation) that you are currently repaying monthly. Being indebted is not inherently negative; debt can be an investment in
Welcome to the wild world of debt! It’s a place where every type of debt has its own vibe, just like a character from your favourite movie or TV show. This blog explores debt’s different personalities as famous fictional characters. We’ll use fun comparisons to help you understand your debt better. So, grab your popcorn,
Let’s face it: dealing with debilitating debt is overwhelming, and getting caught in a riptide of negative thoughts, feeling helpless, and losing sight of hope is super easy. In times like that, your mindset plays a crucial role; either an ally that helps you overcome the challenge or a saboteur that beats you down. It’s
The weight of debt is universal, a crushing burden shared by millions across the globe. Yet, in South Africa, it is a unique hardship that most of us must endure at some point. Here, debt isn’t just a number on a statement; it’s woven into the fabric of our history, economy, politics, and the struggles
When managing debt, many individuals often confuse the concepts of a consolidation loan and consolidating debt through debt review. To clarify these options and help severely over-indebted South Africans make informed choices, here are some valuable insights into each approach. Consolidation Loan A consolidation loan is a credit agreement designed to settle existing unsecured debts,
What Is Lifestyle Inflation? Lifestyle inflation is spending more as income rises or upping your lifestyle without regard to your financial means. Many South Africans are guilty of lifestyle inflation. So recognising this trap and learning how to escape it is essential to improve your financial well-being. We all are guilty of this. Don’t worry
Credit cards offer convenience and financial flexibility when used responsibly. However, if mismanaged, they can lead to a never-ending cycle of debt. One particularly harmful practice is debt recycling, where individuals use one credit card to pay off another, trapping themselves in a loop of increasing debt. In this article, we explore the consequences of