Times are tough and the financial struggle is real! Sometimes when things get so bad, and we are overwhelmed with debt and debt collectors, we wish we had somewhere to get guidance and more information from.
Other times - like with insurance and credit contracts - there is way too much information and it just confuses the hell out of us!
Either way, all of us use money and all us need money.
So every Tuesday, this column will help you find your way around money issues that we all face on a daily basis.
For instance, did you know that if you are married in community of property, you and your spouse are equally responsible for debt made while you are married.
In other words, if your spouse has made skuld on their name that they can’t pay, the creditors can also come after you to recover that debt.
It’s not all love and roses. Your debt is my debt! Be careful!
Also, did you know that under the Consumer Protection Act, you have the right to request pre-authorisation for repairs and services?
This basically means that you can ask for a quotation and have to accept the quotation for any repairs or maintenance - and if you didn’t accept the quote or give the go-ahead, then you are not liable to pay for it. Mense, we gotta know our rights!
In addition to the information on personal finance, we are also going to have a segment called “Mind your Business”.
Here, we are going to guide those who are starting their own business and those who already have their own small business.
Do you know where and how to register your small business?
Do you know where to access funding for your small business?
Do you know how to do bookkeeping for your small business?
All of these questions will be answered here, as we help you “mind your business”.
Now, getting back to some money problems - how many of you are sukkeling your way through Janu-worry? Seriously, how many days did this month have - 95?
Firstly, let me assure you that you are not alone.
Why some people still want to keep up with the Joneses is beyond me - because there are no more Joneses! Almal sukkel! The struggle is real!
Yet, there are some things that we can do to cut costs and save money.
Switch off your geyser in the day. If you save R10 electricity a day doing this, then that is R300 for the month and R3600 for the year. That is a massive saving.
Go through all your retail store accounts and cancel fees which don’t benefit you. How many of us are paying for magazines we never read and services we never use?
Hou op “Ryke Marthinus” wees and make your lunch at home instead of buying at work. R10 for a can of cooldrink and R5 for a packet of chips every day is R75 for the week and R300 for the month.
You can rather spend that money on electricity, school fees or other necessities.
Check how much you are being charged for ATM and bank withdrawals. It’s often cheaper to withdraw money at till points.
If you have any other cost-cutting tips or money matters you would like us to address, please let us know.
Look out for “Rek Your Cheque” every Tuesday in the Daily Voice and find your financial freedom.
See you next week.
*Moeshfieka Botha is Head of Research and Consumer Education at National Debt Advisors and has been in the debt debt and consumer education space for many years. For more information on your money matters go to www.nationaldebtadvisors.co.za.