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Subject: curse of the 1st world countries
Replies: 76 Views: 2052

cr1spy 1.06.13 - 01:05pm
Yes. I'm talking about debt. Over 75 percent of the salary of the majority of South Africans is spent on paying debt. Worse of is countries like the USA which the majority of the population spend over 100 percent of their income on debt. Meaning they spend more than they earn. * +

cr1spy 1.06.13 - 01:15pm
the only option of coming out of this trap is to downgrade your lifestyle, pay your debt and start of fresh. debt free and stress free. * +

cr1spy 1.06.13 - 01:22pm
A maximum of 30 percent of your income should go to your monthly installments. one effective way of reaping the rewards of paying your debt is by a method called debt snow balling. basically it means dedicating your strategy to pay off the smallest debt first, then take the installment you save and dedicate it to the next smallest installment. * +

cr1spy 1.06.13 - 01:32pm
i often wondered how do i keep a credit history without taking on debt, the answer most people gave me is buy with a credit card and pay it off before they charge interest however i came to find out that alot of well known insurance companies report monthly to the credit bureau. Pay your premiums and it is reported. Your insurance unlike debt can be cancelled at anytime so you can live a debt free lifestyle. * +

cyberman 1.06.13 - 01:33pm
crispy 4 world leader * +

bozzalad 1.06.13 - 03:25pm
You can use prepaid credit cards to build up a good credit rating too, which you need if you wanna run a business , especially if you want to use paypal n not end up like astrobatts n the like . * +

dgsn 2.06.13 - 02:39am
Debt Free * +

cr1spy 2.06.13 - 06:52pm
The ripple effect. The South African Rand is currently over R10 to the U.S Dollar. This is due to banks such as african bank and capitec giving out large loans over a long period with a high interest rate to poor people. The result is them being unable to pay back, the industrial sector such as mining are going on strike for higher wages to pay off their debts resulting in a loss of production and a downgrading of the rand. Banks such as african bank are currently forced to write off over R400m. * +

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