MONEY TALK

South Africa's best financial advice, research, how-to's, and insights

Petrol rises to 13.23 rand a litre and diesel 12.15 rand in the main Gauteng inland region. According to Neil Roets, CEO of debt counselling firm Debt Rescue, the 84c a litre increase on petrol is going to make it difficult for many deeply indebted consumers to make ends meet. “With SANRAL seeming to be […]

A round-up of the day’s news from around South Africa. AILING MANDELA REMAINS IN CRITICAL CONDITION Former president Nelson Mandela remains in a critical condition in hospital after being admitted more than two weeks ago with a lung infection. President Jacob Zuma’s office said doctors were doing their best to ensure the “recovery, well-being and […]

Cape Town – For many consumers, retail therapy seems to be just what the doctor ordered to lift their mood. But just as many go out and buy goods that they do not need and cannot afford, turning what should have been a mood enhancer into a potential debt disaster. “It’s not called retail therapy […]

Cape Town – It seems a near certainty that the government will introduce a second credit amnesty. In its recent presentation to parliament, the department of trade and industry made it clear that they were determined to proceed with the scheme. However, there are many in the financial sector who expressed great concern over the […]

Kaapstad – Al hoe meer hoe mense sukkel om hul skuld af te betaal te midde van onversekerde lenings wat die hoogte inskiet, het ‘n skuldbestuur-maatskappy gewaarsku. Neil Roets, uitvoerende hoof van Debt Rescue, het gesê dit is veral jonger mense wat in die warm water beland. Volgens die maatskappy het die aantal jongmense in […]

Cape Town – More young people face crippling debt as unsecured lending is spiralling out of control, a debt management firm warned on Tuesday. Debt Rescue CEO Neil Roets said that younger people are getting themselves into hot water. According to Debt Rescue, the number of young people in the 18 to 34 year age […]

The fuel price increase which became effective today will have dire consequences for deeply indebted consumers and may push many desperate people into the hands of loan sharks and micro lenders, say experts. The price of 95 octane petrol increased by 10c/litre at the coast and by 12c/litre inland. The CEO of debt counselling firm […]

Johannesburg – With rocketing food, fuel, electricity and other prices, more and more analysts are warning South Africans against falling into the debt trap. Automobile Association spokesperson Gary Ronald this week warned motorists that they can expect the fuel price to peak at about R13.50 to R14.00 per litre this year, with a chance of […]

There may be major negative unintended consequences to credit amnesty The near-certain decision by government to introduce a second “credit amnesty” after the spectacular failure of the first one in 2006-2007, will only provide temporary relief to deeply indebted consumers and drive many into even more profound indebtedness requiring debt counselling. Although the envisaged amnesty […]

Credit amnesty will only provide temporary relief to deeply indebted consumers. The near-certain decision by government to introduce a second “credit amnesty” after the spectacular failure of the first one in 2006-2007, will only provide temporary relief to deeply indebted consumers and drive many into even more profound indebtedness requiring debt counselling. Neil Roets, CEO […]

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