Debtfree – Our Editor’s Note

Editor’s Note May 2017

Running out of water has been on the mind of those living in Cape Town for a few weeks now. Dam levels are dropping and as the rest of the country watches the city of many millions of people prepare for a disaster. Of course, most people in the Cape are optimistic that the rains will come and dam levels will go up and it will soon be life as normal. In fact, the municipalities have had to fine people who during this drought are watering the grass alongside the road outside their property.

It is kind of how many consumers deal with debt. As their debt levels increase and their income stays the same, they carry on spending the same as before. No drastic measures are taken until they are absolutely forced to do so. Normally, by then it is too late and those summonses and collections agents are beating down the door.  Well, now the Western Cape is in need of some rain but they don’t have the option of just going down to their local Debt Counsellors office for help. A day of rain won’t see the issues disappear and even when (if) the rains start, the municipality will struggle to get residents not to waste water. They worry that with rain falling from the sky, residents will once again begin to waste water even though they will face a similar issue next year.

Consumers under debt review can also do things to worsen their hopes of staying in debt review. They can start to sabotage their own debt review (sometimes without even realizing it). It may be things they do or things they neglect to do. This issue we look at some of those things and ask our readers to avoid the bad and embrace the good.

We also only have a few days till the Annual Debt Review Awards. Months of hard work and participation have finally come to a close and we will soon find out who the industry rates as it’s top performing firms. We have an update about that in this issue, along with a roundup of several industry events. After reading our first article our readers may just be motivated to give those roundups a glimpse to see what happened even though they do not work in the industry (read the first articles and find out why).

So, as some of the country sit and stare at cloudless skies the rest of us stare into empty wallets and wonder when our financial windfall will come. The trick is to go slow and steady. To not waste, to be water and money wise and the situation will be manageable. Who knows? If we are all savvy about it Capetownians may soon be singing in the rain and the rest of us may be debt free.

Debtfree May 2017 CoverThis article from the May 2017 Debtfree Magazine. Subscribe to read it first.

 

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