Debt-relief measures ‘will reward irresponsible consumers’

Proposed legislation to help over-indebted consumers might prove to be a double-edged sword, discouraging consumers from managing their credit responsibly, the Banking Association South Africa (Basa) warns. The organisation was referring to the draft National Credit Amendment Bill, which was published by Parliament’s portfolio committee on trade and industry last year. Public hearings on the […]

What makes a good financial adviser?

Tough economic conditions are expected to persist this year, and many South Africans need guidance on how to build financial security and avoid tapping into savings and taking on debt. Despite this need for advice, only 13% of employed South Africans who live in metropolitan areas have a relationship with a financial adviser, according to […]

Be Budget-Conscious in 2018

Many people start the new year with leftover debt from the previous year, and additional interest month after month just makes the problem worse as the year goes on. Principal Financial reports that 40% of people intend to save more money each month, while 42% plan to pay off debt. Additionally, 56% of people have expressed that […]