Off The Beaten Track

debt

Considering a consolidation loan or debt counselling? Then you need to read this

March 29, 2016 // 0 Comments

When people are struggling to keep up with repayments on bank loans, credit cards, vehicle finances or store cards, some may go as far as finding relief in a consolidation loan or apply for debt counselling. But there is confusion when it comes to what this means. Debt consolidation This is the process of using one big loan to pay off smaller accounts. This may seem like a reasonable option because it means only one combined debt needs to be paid and it frees up a little more disposable income. [...]

5 of My Worst Money Mistakes

July 9, 2015 // 5 Comments

If you’ve followed my story, you’ll know that I was in a LOT of debt at one stage and quite frankly I wasn’t even making it from one paycheck to the next. It was more like living from one paycheck to a week after. Some months it would be two or three days. To this day I don’t know how I actually made it through some of those months. Actually, I do: my institutional debt, and when that ran out, my family and friends. I owe them a cut of my investments for always funding [...]

7 Things You should know about Credit Reports

May 19, 2015 // 0 Comments

We all know that credit reports are key to accessing credit, but very few people actually understand what components make up a good credit score, and how the credit report is compiled. This list is by no means exhaustive but it should give you a fuller picture of the behaviors that credit bureau collect to end up with your credit score. Your credit score and report is your personal credit management CV so you need to make sure you keep a close eye on it. Having an impeccable credit score does [...]

Good Debt, Bad Debt, and the Gray Matter in Between – Part 1: Student Loans

May 4, 2015 // 1 Comment

A lot of people are genuinely confused about how to differentiate good and bad debt. We’re going to be breaking down these different forms of debt throughout this week and covering the grey areas as well. This article will focus on the first ‘good debt’: student loans. Student loans are generally classified as good debt. One aims to obtain a qualification hoping that it will allow you to get a job that will, in the long run, not only pay the loan and interest back, but also improve their [...]

Debt Elimination: The Second Half

May 3, 2015 // 0 Comments

There are many reasons why getting out of debt is very difficult, if not downright impossible for some. Reasons can go from simply being addicted to debt or buying things using credit, or a person can lose their job and find that they are unable to pay off their debt because they no longer have an income. however, some people simply accept debt as part of their lifestyle and aren’t aware of how crippling it is until they’re in way too deep. The journey to being debt free can be emotionally [...]