Time for a clean slate: Breaking the cycle of SA debt

clean slate150It’s that time of the year, when many feel as though a new lease on life has been granted. It’s symbolic of new beginnings and individuals joining in with the old tune of ‘out with the old and in with the new’. The start of the New Year has seen the rand reported as being at its lowest in five years. Alarm bells should be ringing in your ears if they haven’t by now, Read the rest of this entry »

What SA Worries About

Financial WorriesAdvice and money

Before making investment decisions, only 32 percent of people said they would consult a financial advisor.

This was followed by a spouse or partner at 21 percent, the internet at 16 percent, family and broker both at 10 percent, newspapers at six percent and friends at three percent.

“This is a real concern for the advisory industry which needs to ask why people are not looking for professional advice,” noted Fisher-French.

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The Dangers of Using Credit… What Marketers Don’t Want You To Know! Part 2

What marketers don't want you to knowConsumer credit has become the poisoned apple of the 21st century. For most, the temptation of its spoils has been too alluring to resist, believing the benefits of using credit to finance a lifestyle they cannot actually afford, out-dazzle the drawbacks. Unfortunately, the truth and harsh reality of this fatal assumption is now coming home to roost, as millions fall into the clutches of overwhelming debt and find themselves struggling to make ends meet.

Over the last 60 years, the growth of the global economy has relied heavily on credit consumption, propping industries and entire nations up on a shaky and unsustainable foundation. But, while the world was enjoying the heyday of credit induced economic growth and gluttonous living, no-one was asking, “What can go wrong?” Well, now we know the answer to that question and the future financial security of individuals, households, industries and entire nations, doesn’t look pretty. Read the rest of this entry »

Radio Interview: Chaim FM

Listen to the interview with Gary Wilde & Carmen FIlippa on Chai FM

8 Steps to eliminating financial worries and building financial security, regardless of how much you earn.

Gary Wilde and Carmen Filippa are interviewed by Liron Mazor during the Personal Finance Hour on Chai FM.

Listen to the recording

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The Dangers of Using Credit… What Marketers Don’t Want You To Know! Part 1

The overwhelming majority of economically active people around the world have become dependent on credit to finance their lifestyles. “Buy now, pay later” has become a spending culture and a way of life for most and it’s the reason so many are debt ridden and struggling to make ends meet each month.

Since most people can’t afford to pay cash for all the things they want, affordability has now become a measure of how much access to credit they have. As a result, marketers and salespeople have become dependent on the ability and willingness of consumers to buy things on credit in order to hit their sales targets.

To enable customers to buy on credit, most retailers offer credit card payment facilities and many provide their own credit facilities through charge accounts and instalment sale agreements. But these facilities are only useful as long as customers are willing to get into debt to buy their products and services. Read the rest of this entry »

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