We are so bloody phenomenal at everything else that we do, why should we not excel at handling our finances too? Why is the managing of finances in the household still seen as the “mans role”?

Debt specifically, is something which affects so many of us.If you have not have any negative experiences with debt, please send me your name and address, because I want to come live at your house!

As women we have to become financially informed and educated about our finances. We can only become informed when we become pro – active. Go to your creditors. Find out exactly what your balance owing is. Know what your installments are and know what interest rate you are paying. Know exactly how long you still have to be paying your bond and all your other different accounts. This is your right.

Once your financial status has been confirmed, if its not looking good – I beg you, with tears in my light brown eyes – ACCEPT it. If you do not acknowledge that you have a problem, then you cant find a solution!

And we have to admit, no other species does denial better than the female! ” He’s just running late, He will change, My period will come!” All in the same vein of ” My finances will get better” NOT IF YOU DONT DO SOMETHING ABOUT IT! There is no fairy with a magic wand thats going to make it all disappear. It is not miraculously going to right itself.

So if you have a financial problem. If you are over- indebted. If your expenses exceed your income, If most of your money goes towards paying your debt, if you are struggling to pay for daily livivng expenses……ACKNOWLEDGE the problem and start looking for solutions. Who knows….the answer may be as easy as DEBT COUNSELLING or as soul touching as I HAVE TO DO WHATS BEST FOR ME.

By Moeshfieka Botha

Thank you to Credit Matters for all your assistance in making this process easy to understand. It is through your commitment to assist me that encouraged my commitment to help myself and finish all my accounts with extra cash I may have. My husband is with another DC and needless to say I am ecstatic that I am with you. You’re a DC who cares and offers an open door policy in helping with queries. Once again my sincere thanks to all of you ( especially Mariam Martin and her team ) for helping me in standing tall.

And when you do get through to them, doesnt it make sense that they are only going to be putting THEMSELVES first. Why would your vehicle financing department of FNB care that your personal loan at Nedbank is going to receive less money, when they can have the bigger share of your payments?

Now, no denying that Debt Counselling has its flaws. But every creditor gets regarded as equal and if things work as they should…. YOU dont have to be dealing with your creditors, your debt counsellor has the fabulous task of doing this! Now, if you are stressed and over-indebted…….that should be a load off your mind!

Watch the below video to see where Credit Matter’s offices are in Cape Town. For those walking the street of Cape Town, come in and see the wacky world of Debt Counselling with Credit Matters. We are located in the centre of town so have a look at the video to see where we are. There is never a dull moment in our offices as we try to fight off the creditors, champion the case of the underdog and generally make debt counselling work. (The first person to mention this video each day when visiting, will get a FREE cup of coffee.. Cell C are showing us the way..)

So you would like to know more about Debt Counselling… The good, the bad and the ugly… well almost. Moeshfieka Botha, Media and Communnications Manager for Credit Matters will give you the low down in this first of 10 series of videos.  Let her know if there are any topics you would like her to discuss in her series.  Contact her on 021 431 9100…

Debt experts advise South Africans to be very careful about not missing monthly repayments, especially if they are already under review. Missing payments could have disastrous consequences, and could result in credit providers terminating the review and taking defaulting consumers to court. Instead, South African consumers should aim to stick to their budgets as much as possible – spending wisely and saving as much as possible. Reckless or unwise spending is already common with South Africans, with over eight million in debt – many of these will not be able to regain the losses they will face with defaulted payments, which makes it all the more essential to keep up monthly payments even during special events such as the World Cup. Speak to our debt counsellors to learn more about effective debt solutions.

As for why men are more in debt than women, unemployment and job cuts play one of the largest roles in financial stress and debt. Men have always been seen as the main breadwinner in most households, and as such have an increased burden to provide for their families – regardless of whether they are employed or not. Without work, it can be all too easy to live on credit, and this is where so many face problems. With the advent of online or call-based debt organisations, more men are able to approach help from a debt counsellor without feeling the shame of face-to-face meetings, which could explain the recent increase in men asking for debt help.

Of course, avoiding debt is also important for consumers who are not yet in serious debt. You may have a few accounts at major chain stores, and perhaps a credit card or two and a garage card. Perhaps you have also taken out a home, personal or business loan or you are still paying off a car or student loan. This is how problems develop, and when consumers develop bad habits such as using credit cards to pay off other debts, things can quickly spiral out of control. Speak to a debt counsellor to learn how to prevent debt from taking over your life.

Debt review, a frightful word for some and a necessary solution for others – many of us have had to face this reality thanks to a very tough financial year. Financial stress and strain has undoubtedly been the theme for the past 18 months. South Africans have had a rough economic time lately – and everyone from all sectors of society has been affected. Whether you are a teacher, an office worker, a doctor or a domestic worker – everyone has struggled. You are not alone, we are all in the same boat and the rough seas are starting to slowly clear.

Debt, coupled with recent job losses, has played a huge part in our financial crises. In the last year – roughly a million South Africans have lost their jobs. Debt carried over from 2009 to 2010 is estimated at R1.14 trillion. Yet, our lives do not stand still because of our financial strain. Ordinary people still need to be doing ordinary things. There are school meetings to attend, dates to go on, carpooling to do and meals to be prepared. The rent still has to be paid, so does the school fees, the electricity and the petrol!  What we should be doing, is equipping ourselves with the necessary and correct information to help us make better decisions during these trying times. All these small necessary requirements eventually build up until it is impossible to accurately manage your level of debt.

You do not need to beat yourself up about how you got into a bad financial situation, as this does nothing but take time and energy away from dealing with the things that face you today. The only thing we can do with the past is to leave it there. Once we become knowledgeable about our finances and our options regarding our finances – only then are we are in a good position to make the correct financial decisions and to look forward to a new beginning. For a healthier outlook on your finances, call a debt counselor today and apply for a debt counseling solution that can meet your distinctive needs.