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Our Editor’s Note

So, we have now arrived at ‘Season 3’ of the pandemic. Like many sequels, we can expect it to be derivative, less impactful and not as original as season 1 or 2.

Remember how the world came to a standstill in Season 1. Well, that was hardly the case in Season 2 and it looks like most places are waiting for Omicron to taper off (like it has here in SA) before things can get back to “normal”.

At some point, a pandemic spreads everywhere and becomes an epidemic or even an endemic. Something local that has to be dealt with from time to time. At this point, scientists say this is the best we can hope for. With greater vaccination rates and lower mortality rates (along with higher numbers of recoveries) the spread slows and the impact is reduced.

‘Will things ever go back to how they were before?’

Will things ever go back to how they were before? Not quite, but there seems to be optimism that 2022 will be more manageable in regard to Covid-19 given the experience, boosters and change in social behaviours over the last two years.

Sadly, it looks like economically, the year is going to be a tough one for all consumers and particularly for those burdened by heavy debt. Interest rates are now on the upward swing and look to increase for the next 2 years at least. The question is not will they increase, but how much they will increase. Inflation is a real issue as fuel costs increase due to the oil producing countries (and companies) desperate to milk what they can, before global climate change makes them the villain of every future TV show and movie.

Locally, food prices have shot up with shortages and import costs hammering our wallets, and it looks like Eskom are in for a rollercoaster of a year.

‘the year is going to be a tough one for all consumers and particularly for those burdened by heavy debt’

So, if you have a mountain of debt to deal with on top of all that, please go talk to a professional Debt Counsellor and make a proactive plan now. If you are already in debt review, then watch your budget. With the cost of living shooting up, your budget is going to be in flux. You may have to make more cuts just to make ends meet, but please do stick with the debt review process. This way, you do not have to have debt stress on top of everything else.

In the magazine this month we look at things you should do to make a success of your debt review, and things that will burn your debt review to the ground faster than you can say “parliamentary fire”. We also track interesting financial and economic news and you can meet a key industry person in our profile article.

‘let’s allow ourselves a moment to be slightly optimistic’

Yes, Season 3 might be tough, we are not out of the woods yet, but let’s allow ourselves a moment to be slightly optimistic. We no longer stare at our TV sets and social media feeds in horror. We are now far more savvy and tough. We don’t scare as easily, and we are perhaps a little wiser and more realistic than before. So we don’t expect roses, but who knows, maybe they will cancel season three at some point. Wouldn’t that be nice? Almost as nice as being totally debt free.

This article first appeared in:

Debtfree Magazine Issue 1 of 2022

[Debtfree Magazine Team] We hope that you enjoy the issue.

Read it free online now: HERE