05 Jun It is Not Only Debt That Can Affect You Financially
From poor budgeting to high inflation, there are many factors that play a significant role in determining a person’s financial circumstances. At Debtco Group, we make a point of addressing each client’s relationship dynamics with money, as part of our comprehensive Debt Review services. This is because debt is not the sole determinant of financial struggles, even though being over-indebted is incredibly stressful.
One of the main concerns facing consumers not only in South Africa but around the world is rising inflation, and unstable interest rates. Every time there is an interest rate increase, your debt repayments are likely to increase as well. This is not only true for debt but for the price of basics like groceries and fuel, which are much higher in cost today than they were a few years ago. It is becoming essential for every individual and household to have and stick to a monthly budget. Your budget should be aligned with your income and expenses, and if you are struggling to get by and afford your debt, you are likely over-indebted.
It is important to remember that it is not only debt that can affect you financially. Life is filled with financial responsibilities, from caring for your family and paying school fees to putting food on the table every day. The more you spend with consideration, the less likely you are to experience money difficulties. Having money put aside for a rainy day can make all the difference, and prevents you from acquiring debt that could potentially cause you more harm than good. Make smart choices when it comes to your money, for the best chance at financial stability.
Our Debt Review service is intended specifically for clients who are too far in debt. While tackling your debt issues does not leave you free of financial stress, it most certainly simplifies your money problems. If you manage to overcome your debt and repay all your creditors through Debt Review, you’ve taken a massive step toward improving your financial standing. Having cash freed up in your budget makes budgeting easier, and you’ll find that you can enjoy life a bit more. If you need help with debt, we are here for you.
When you realize that it is not only debt that can affect you financially, you’re one step closer to gaining control of your financial stability. While some things are out of your control, your debt problems do not have to be. Let Debtco Group assist you in overcoming your debts legally, in a way that aligns with your income, expenses, and money goals.