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2018 – Your Best Year Yet?

Every year presents us with opportunities. The new year follows a few restful contemplative days where most people start to make resolutions for the coming months. For most people these days that means plans to dig themselves out of debt and get into shape. We briefly look at 3 reasons why 2018 is going to be a good year for you.

Paying Off Debt

If you are under debt review then your year is going to be one of financial purpose. Each payment will be reducing your overall debt. With the beneficial rate reductions, you probably received from your creditors when you entered debt review, you are now hammering away at your debt balances (while most people will simply be making payments towards the interest portion of their debt). In 2018 you will have less debt while most people will probably just get more.

 

Another Financial Crisis?

With SA hitting Junk status and some of the biggest local firms in financial trouble, things are looking financially grim for the economy in 2018. This is not bad news for Debt Counsellors though since it simply means more consumers may begin to think about getting help and these Debt Counsellors will be there ready to assist possibly hundreds of thousands of troubled consumers.

Consumers who have already been proactive and are already in debt review will have had a good budget worked out for them and have a realistic debt repayment plan in place (thanks to the courts) and so face so much less stress than everyone else who might be hit by these economic factors. This doesn’t make you immune to further economic downturns but it does put you in a better spot than most people.

‘Finally, you can think about things other than debt and collections agents’

Optimism Meets Opportunity

With 2018 just around the corner you have already been thinking about how this coming year you are finally going to get in shape and do that thing you always mean to do and never get around to (this year). And why not? This year you have gotten your finances under control. Your monthly spending has been budgeted for. So, why not start to go for an afternoon jog or hit the gym with your friend (he’s always pestering you about it). What is holding you back from reaching your other non-financial goals? With the stress of dealing with your debt removed things at home are probably more peaceful than ever. You are sleeping better at night. Finally, you can think about things other than debt and collections agents. So, 2018 could be the year you can finally get going on those other goals.

These are just some of the reasons to look forward to 2018. Debtfree magazine looks forward to continuing to help inform and educate all our readers in the new year as we cover the industry and economy. We also look forward to bringing our readers tips and tricks to help them make 2018 a great year.