Most of us want to save more, but simply don’t have any extra in the monthly budget. However, if you get rid of debt, you can save more (and sleep better). Here is a clear, simple strategy to repay your debt so that you can increase your savings, without evicting your family.
Debt and financial wellness
Debt can help you reach your financial goals, or cut you off at the knees. There’s good debt and bad debt: good debt helps you to buy or earn assets. Bad debt is used to pay for your lifestyle. But sometimes, even short-term debt is a necessary evil.
Am I ready to start investing?
Prepare the ground before you start to invest – a firm foundation can protect your investments and ease the anxiety of making investment decisions. This is too important to rush.
Debt: Your DIY repayment plan
Do you want to pay off all your debts in a year? There’s more room to renegotiate your debt repayments than you might think. Here’s how you put together a realistic, clearly-formulated debt repayment that accommodates your personal situation.
Debt: Why debt costs money
Sometimes debt is our only hope in a difficult situation, but a small loan can very quickly turn into an unmanageable debt. This is how it happens …
Debt: Avoidance fees
It’s normal to feel overwhelmed and afraid when your debt has been handed over. However, avoiding a debt collector will add to the fees. By engaging with the collection agency you can negotiate payment plans, and you could even get a discount on your debt.
Debt: My rights
Paying back debt is always painful, but knowing your rights when dealing with creditors and debt collectors might provide an opportunity to work out a manageable payment plan. You should also be aware of the pro’s and cons of debt counselling.
Debt: I’ve been handed over
What does it mean to be “handed over”? Is this debt counselling? And does this mean I’m “blacklisted”?
Debt: Five habits keeping you in debt
When short-term debt becomes a habit, your future is compromised. Spend some time understanding which behaviours are trapping you in a debt spiral.
Money Hacks: The maintenance mental model
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