Tag Archives: January 2018

Debtfree Magazine January – Our Editor’s Note

Editor’s Note – January 2018

Water, Steinhoff and Bitcoin. It seems that’s all anyone wants to talk about at the moment. That and how the holidays flew by and it feels like we never had a break at all. Perhaps those close to you have also been fixating on these topics and admittedly, this issue of the magazine we also caved and discuss them as well. They are well worth talking about for a variety of reasons.

If you live in one of the many towns or cities across the country where even the wasteful are finally waking up to the possibility that the water shortage could inconvenience them on a day to day level then no doubt you have seen people heading home from the shops with litres and litres of water bottles. They are now being forced to adjust their behavior but it has taken a long time. And if you have been saving water all along, then: well done!

When a consumer uses more money than they earn then they are often able to access credit to temporarily make up the difference. If they can later repay that debt then, no harm, no foul. But when a city is using more water than is falling out the sky…well, thus far none of the banks are trading in water. If they did, trading values would be sky rocketing. Kind of, how Bitcoin and many other cryptocurrencies took off in the last half of 2017. For some who have come up with water saving innovations, business has been booming. In many places, you can’t get a borehole drilled without having to wait months and you can’t find any large storage tanks in the shops. Bottled water sales are sure going through the roof. This just goes to show that, there are opportunities for profit around us every day.

‘Some wonder if Bitcoin and other cryptocurrencies could be their opportunity to find a way out of debt’

Some wonder if Bitcoin and other cryptocurrencies could be their opportunity to find a way out of debt. We discuss what all the hype is/was all about and how the technology works (we try to keep it simple).  We also cover all the latest news like what is going on with the draft bill to amend the National Credit Act and what’s going on with Steinhoff.

If you’ve lived through your own personal drought of access to credit slowly drying up then you are no doubt familiar with the sense of hopelessness that arises when you feel that things are beyond your power to change. People can stare at the clouds all they want but they can’t make them rain. You can stare at your late payment bills but wishing alone won’t solve your problems. Fortunately, unlike with the nationwide drought, debt review is already in place and has been helping hundreds of thousands of consumers. And unlike the drought, debt review is always designed with an end in sight. We hope that this year is a good one for you and that it takes you one step closer to the refreshing feeling of finally being debt free.

 

This article from this month’s Debtfree Magazine