Start the cookie jar approach
Start investing in the stock market
Add it to your retirement fund account as an additional voluntary contribution
Cut back on spending habits
Creating a convenient budget
Create a budget with your family
Prioritize needs before wants
Don’t be afraid to trim your budget and always track progress
Yes, the sooner you start, the more savings you will make.
You can take advantage of compound interest
An emergency fund is money you've set aside in a separate savings account to help you cover unexpected and urgent expenses. Establishing an emergency fund while you're young can help you better prepare for financial challenges and obligations you may face later in life.
Raise your interest rate
Place an account with collection agent
Take money from your bank account
Start legal action
Your debt doesn’t die with you, it will be paid with the monies you have left behind.
Students are not liable to pay tax unless you earn R87 300 per annum same applies with small business owners.
The only way of obtaining a credit score is having good debt and managing your debt well.
Look for a bank that offers convenience and either doesn’t charge fees or makes them easily affordable.
Tax free savings, Stash, Auto share accounts, unit trusts, retail bonds, properties and shares.
This is up to you but start with the most expensive debt first (highest interest rate)
Negotiate with the creditor on repayment if you are under pressure.
Identify fixed and non fixed expenses and also essential and non essential payments.
Look at cutting the non fixed and non essential payments from your expenses
Yes tackling the most costly debt first is a form of saving. Also if a savings has a higher return than cost of the debt this may be feasible in terms of consideration
First understand how long you are going to be invested for and the amount of risk you are prepared to accept. This will help in understanding the best investment options available to you
Discipline, discipline and more discipline.
Try have an emergency fund set up so that you do not have to rely on credit when an emergency arises.
Spend less than you earn. Work the non essential out of your budget and make work of paying debt off as quickly as possible
Speak to a professional financial advisor about this as there is no one size fits all approach to this. Each set of circumstances deserves special attention.
Start with understanding how much of cover is required and chose the funeral plan that is most cost effective for your needs