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Pensioner Still with Debt? Reduce It On a Pension Income

Statistically, one in three South Africans retirees have no retirement plan and will still be in debt upon retirement, forced to use a portion of their pension to pay back previous debts. While reducing debt as much as possible before pension age is advisable and...

3 Steps to Reducing Debt if You’re Nearing Retirement

Should you put extra money towards paying off debt or saving for retirement? The biggest challenge is to do both well enough, reducing debt as much as possible while moving towards pension age. Here is how to find that balance ahead of retirement. Retiring with debt...

Five Worst Types of Debt to Avoid if You Can

There are times when you feel that borrowing money and taking out a loan is the only valid option, but it doesn't have to be this way. Here are some of the worst types of debt to avoid from the various types of debt funding your daily needs. Credit card debt The most...

Talking about Debt with Family and Friends

Talking about debt with your partner, spouse, children or other family members is a difficult thing to do. Still, it can be a liberating and highly productive step to confront debt guilt and shame and work together towards finding a solution. Here's how to get the...

How to Overcome Shame and Guilt When You’re in Debt

It's completely normal to feel overwhelmed and confused about debt, but incurring more debt when you're already in a tight financial spot doesn't have to be shameful. Here is how to lose the guilt and take control over your debt. Stop the debt cycle Unfortunately,...

Which Different Types of Debt Can Be Consolidated?

Taking control over your debt gets easier once you understand the different types of debt and learn to prioritise paying them off. This blog explains various types of debt, the worst types of debt, and which debts can be consolidated when undergoing debt counselling....

Consumer Debt vs Saving: What is a Debt-to-Savings Ratio?

Various money ratios indicate if your debt is at a manageable level or not. These calculations may be employed by financial institutions to determine your creditworthiness but are generally helpful to understand your finances, reduce debt and improve budgeting....

What Debts Should You Pay Off First?

When it comes to paying off debt, knowing which debts to prioritise and pay off first can save you the extra money in accumulating interest and get you closer to eliminating another of those monthly instalment burdens. There are various ways to get rid of debt, and in...

Three Ways to Improve Your Credit Score

Credit providers use your credit score to determine the risk level of your credit application before either its approval or denial, aka your creditworthiness. A higher credit score is more likely to result in the credit being granted on favorable terms than a low...

Why You Should Always Keep a Good Credit Score

Most borrowers hardly bother to check their personal credit record and understand their credit score before applying for a loan and risking more debt when they shouldn't. According to a Credit Bureau Monitor report, less than 3% of the 24 million credit-active South...

The BIG Financial Decisions that Impact Your Credit Score

A credit score is a number indicative of your borrowing history and financial decisions to date, good or bad. Banks, financial institutions, retailers and other lenders use this credit score to assess loan affordability and potential risks based on your payment...

Under Debt Review? Know Your Rights!

Under Debt Review? Know Your Rights? Millions of employees celebrate Workers' Day or May Day globally, an occasion to mark significant milestones in labour regulations, e.g. the eight our daily working quota or the implementation of a national minimum wage. At ezDebt,...

Repossession Orders: How it Works and What You Need to Know

  More SA consumers who struggle with debt repayments are facing the crude reality of repossession orders in the pandemic aftermath. Banks, vehicle and assets finance units have already reported an increase in repossessions after last year's hard lockdown. Below, we...

Money-saving Tips for a Debt-free Easter

For South Africans, the Easter holidays are synonym with family trips over the long weekend and overindulging at the festive lunch. Expenses can quickly add up, but they don't have to. The last thing you want to worry about on Easter is getting into more debt. The...

How to Reduce Your Debt Under Retrenchment

South Africa lost over 600k formal jobs in the second quarter of 2020, according to Stats SA. (source: http://www.statssa.gov.za/?p=13690). In the aftermath of the COVID-19 lockdown, retrenchment became a harsh reality in many sectors, and a wake-up call for the...

5 Things South Africans Overspend On

One of the many causes of having too much debt or not being able to service your debt obligations can be due to overspending. If you're struggling to pay your debt due to overspending on items you can live without or get cheaper you're not alone. Overspending is so...

What is a South African Credit Score?

Unfortunately, not every South African has the luxury of not "paying back the money" and for those who don't, this can result in penalties to your credit score that will affect your financial well-being well into the future. Having a poor credit score can result in...

When Will Debt Be Written off in South Africa?

At ezDebt, we aim to not only help South Africans get out of the cycle of debt but also educate them about money and the consequences of their actions. Debt should always be paid off in a reasonable and timely fashion to avoid filing for bankruptcy or being...

What Is Your Consumer Rights In South Africa

A major part of South Africa’s economic growth is increasing the amount consumers’ as well as the amount of consumer spending that happens annually within the country. When consumers spend on goods and services they drive up production and facilitate growth in a range...

Why You Should Pay Attention To Alt Coins?

If you're reading this you've probably heard of Bitcoin the generic term currently categorizing the entire cryptocurrency market. Bitcoin has become most peoples introduction to the concept of cryptocurrency and will for the foreseeable future be the generic term for...

South Africans Tend To Fall Into These Debt Traps

When we look at the latest information on consumer credit behaviour which was released by credit bureau Compuscan it offers a sobering view on how South Africans use their money. It has revealed that more consumers had moved into higher delinquency categories from Q2...

10 Tips To Reduce Your Monthly Spending

Due to the recent junk status downgrade, South African consumers are likely to pay more for food, fuel & other necessities, this will, in turn, be putting a lot more pressure on their monthly budgets. Unfortunately, this isn't where the bill will stop for most of us,...

Debunking 7 Popular Credit Card Myths

Throughout the world, credit cards have gained prominence as a purchase enabler that empowers consumers to conveniently spend while also having access to a credit facility 24/7 as well as the gateway to purchasing goods and services online. Credit cards have made a...

Pick N Pay To Start Selling Food On Credit

In the current economic climate, consumers are feeling the pinch and struggling to make ends meet, having to get back on spending and concentrate on servicing basic needs and consolidating their debt. A long road that is easier said than done, this sort of climate...

10 Ways To Stretch Your Holiday Budget

For many South Africans, the December holidays are just around the corner. Irrespective of where you are going and what you will be doing, it is only natural to want to indulge more than usual. No matter how you choose to enjoy your holiday, whatever, you do don’t...

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