Editor’s Note (Debtfree Magazine Issue 3 of 2022)

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Editor’s Note

As Covid-19 related restrictions continue to be lifted and the National State of Disaster looks to be coming to an end…relatively soon, people are thinking about a return to a more normal life.

Now that may not ever look exactly like things did before but at least the ability to stroll around without a mask on, while avoiding getting coughed on by strangers, helps us all pretend that things are getting back to normal.  Not that we really remember what normal was or particularly liked it at the time and things around us may still feel like a disaster anyway.

‘love it or hate it change is once again coming’

For some, the old ‘normal’ may not have been that great in the first place and they are not eager to see things go back to the way they were. For others, it is a chance to enjoy many of the pleasures they have been forced to go without during lockdown, be that singing in a crowd at a sporting event or maybe a night out dancing with friends.

Either way, love it or hate it change is once again coming. Be sure to check out our article about what that might mean for you and your wallet.

We also take some time this issue to discuss why war in Ukraine causes a “war” in your wallet. In the world in which we live these days, the two are linked. We delve into why that is and how that impacts on your spending power.

Are We Poor Now?

Rising fuel costs and food costs are making it harder and harder to get by each day. As things go back to ‘normal’ and you travel around more and are forced to spend more than you were locked up at home most of the time, you will notice how pricey things have become. 

If you are living on less you, like millions of others, are probably also struggling to just make ends meet and may be wondering if you have enough to get by. This is one of the reasons why we discuss what it means to be ‘rich‘ and what it means to be ‘poor‘ in South Africa right now.

‘SA is…one of the most economically unequal countries in the world’

SA is supposedly one of the most economically unequal countries in the world. We have millionaires and billionaires who own almost everything and at the same time, we also have people claiming the R350 social grant just to make it through a few days without going hungry. If you have entered debt review to deal with your debt it is a good idea to understand where you are within that spectrum. It may not be exactly where you think.

While we have lots of news, advice and interesting tips for you we also take some time to pick the brain of industry experts who have years of financial expertise dealing with debt. The National Debt Counsellors Association (NDCA) Debt Counsellor members help the majority of people who are in debt review in SA. We speak to their Chairperson and ask what lies ahead for the industry and what consumers need to keep an eye out for while in the process. He offers some timely warnings.

Change is Coming

The National State of Disaster may eventually be going away but Covid-19 is still very much around and its day to day effects are going to be hard to ignore for a long time to come. Adjusting to the coming changes may present you with both opportunities and challenges.

We hope that by keeping your finger on the pulse and staying up to date with what is happening around the world (and locally) you will be better prepared to face these changes. Remember, right now your ‘normal’ is being in debt. That’s stressful. No doubt about it. But keep in mind one day your new ‘normal’, your new reality will be living life totally debt free.

This article first appeared in Debtfree Magazine issue 3 of 2022