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Debtfree Magazine – Our Editor’s Note

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Our Editor’s Note

You blink and it is February. Before you know it the SONA has come and gone and the Budget Speech has rolled around. Blink again and it could be June or December.

If you have been struggling to get a handle on debt then beware of how time flies. If you don’t take action, you may find that weeks, then months have gone by and you have not made progress on addressing your issues. And ignoring debt issues can really be a bad economic issue for countries and families.

‘If you don’t take action, you may find that weeks, then months have gone by and you have not made progress on addressing your issues’

If you have decided to take action and tackle your debt then you have admittedly embarked on a tough journey. It is totally true that getting into debt is both easier and more enjoyable than getting out of debt. At some point though you are going to need to take the leap and start actually sorting the situation out. And if you are part of a family then you have some co-passengers along for the ride with you. Your family are bound to be affected one way or another. Hopefully in a positive way as you get rid of your debt.

This issue of the magazine we discuss a bunch of different aspects of that journey as a family:

When do you tell your family?

How much do you tell them?

Can you hide it from your family?

Do the kids need to know about your debt review?

We also catch up with reviews of industry events, economic and banking news as well as get some tips and advice on dealing with debt. You will see that getting past month 3 of the process is key to increasing your likelihood of getting out of debt.

Are You a Mess? You Are Not Alone

Eskom’s finances are a mess. Prasa’s finances are a mess. The Government’s finances are a mess. It seems like everyone’s in financial difficulty these days. So, please don’t feel alone. The key is to take action to address the issue and not hide your head in the sand. Sometimes that means making big changes and making some tough calls but it will be worth it if you are able to follow through.

Don’t let time simply slip through your fingers. Be decisive and make the bold moves. Not only the big once-off decision to deal with debt but also the smaller day by day choices that will carry you forward towards your goal of being debt free.

 

This article is taken from the February issue of Debtfree Magazine.