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Personal Finance Solutions
Providing Financial Solutions, Advice & Assistance Regarding Wealth Creation, Personal Loans, Debt Review, Debt Consolidation & Better Money Management
Providing Financial Solutions, Advice & Assistance Regarding Wealth Creation, Personal Loans, Debt Review, Debt Consolidation & Better Money Management

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As much as payday loans are very tempting to access when you're short of cash, they can lead you down the dark alley to a life of debt.

The main reason for this, is that whilst on the face of it #PayDayLoans look benign & easy to get, the #interest that is often charged for them is well into 3 figures.

In fact some unscrupulous #lenders have been known to charge upwards of 500% in #interestfees.

Furthermore, when it comes to paying back the loan on #payday, you're often presented with an option to roll it over or extend the #loan & so the cycle of #debt begins.

So be very careful if you resort to this type of funding...

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Payday loans can be a godsend when you need money urgently but they can land you in deep trouble quite easily.

The problem with payday loans is that they generally come with extremely high interest rates which isn't obvious when you sign up.

Some payday lenders have been known to charge way over 500% interest which can land the borrower in debt very quickly.

#paydayloans #interest  

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#FeesMustFall & Free University Education?

The fees Must Fall campaign in South Africa is starting to get ugly with students burning & trashing universities all over the country.

What started as a legitimate campaign seems to have been hijacked by thugs in some instances or even political opportunists in others.

This has lost the #FeesMustFall a great deal of public support that it initially had.

Furthermore, many students expected the campaign to provide them with free university education, however there are many that will be scurrying about trying to get funding for their varsity fees.

So despite the campaign & governments promises many will be desperately trying to secure student loans as quickly as possible.

So, notwithstanding the #FeesMustFall movement in South Africa, it is still highly likely that new students & those currently at varsity may still require some sort of student loan to pay for their university fees.

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Zuma vs Pravin

The proxy war between President Zuma & the finance minister Pravin Gordhan has the potential of wrecking the economy of South Africa.

It's all about Tom Moyane who is in charge of SA's revenue service SARS & a friend of Jacob Zuma.

Moyane reports to Gordhan but is going ahead against Gordhan's instructions which has lead to Gordhan giving Zuma an ultimatum in which he says “Moyane must go or I go, says Gordhan”.

Zuma is between a rock & a hard place as losing Gordhan will damage the economy irreparably, whilst he needs Moyane to do his bidding.

Watch this space, interesting times ahead....

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Before committing to the terms & conditions of a loan or any sort of credit, it would pay you to do a little research to see which loan companies offer the best deal.

Interest rates, repayment periods & terms often vary considerably & you wouldn't want to end up paying a few percentage points more in interest when you didn't have to.

So compare the various loan companies & see which one is the best fit & offers the best deal for you

#LoanCompanies #BestLoanCompanies #CompareLoanCompanies  

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You Can't Borrow Your Way Out Of Debt...

When it comes to consolidating your debt, a consolidation loan could be the last thing you need and may just serve to compound your financially stressed situation.

The problem with debt consolidation is that it could just serve to shift your debts around instead of addressing the underlying issues.

For disciplined consumers who are committed to servicing their debt it could however be the solution they need - but beware, it's not the panacea to solving all financial problems

#ConsolidationLoans #DebtConsolidation  

When it comes to wealth creation, there's no real short cut as per this Warren Buffett quote...
"Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant."

Hi, I've just joined the group & look forward to learning loads of insights & tips from fellow group members on personal finance issues. Also looking forward to making some meaningful contributions...

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Debt Review - Everything you need to know...

Going under debt review is a system introduced by the NCR some years ago meant to help people who are drowning in debt & cannot come out on their monthly income.

If it is managed correctly & you work well with your debt counsellor it can be a vehicle to get you out of debt however a lazy untrustworthy counsellor could cause you problems.

Find out here whether debt review is what you need to get rid of your debt:

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Credit Amnesty...

What Does the Credit Amnesty Mean For South African Consumers?

Essentially, what the credit amnesty will mean for people with a poor credit history is that the negative detail on their credit records will be removed.

So while consumers can look forward to judgements and other negative stuff removed from their records, it does not mean that consumers' debt will be cleared.

Unfortunately every debtor will still need to make their monthly repayments and will be liable for their outstanding debt and other financial liabilities.

Also Minister Rob Davies has recently announced that the credit amnesty bill has been published in the Government Gazette Notice No. 37386 to ensure the Removal of Adverse Credit Information and Information Relating to Paid Up Judgments.

Good news for blacklisted people and those with judgements that are hampering them from applying for credit and getting personal loans.

#creditamnesty #creditamnestysouthafrica #creditamnestydebt #creditamnestymeaning #whatiscreditamnesty  
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