There isn’t a simple, one-stop solution for how to accomplish this. Every person will have a different financial status. However, there are a few crucial methods that you can start managing your money right away.
- Your debt:
If you’re already avoiding endless calls from debt collectors or feeling the pressure of mounting debt, it may be time to consider enlisting trusted professional help. At FDA, we assist consumers who are struggling to keep up with their debt obligations by offering a number of debt solutions such as:
- Debt Consolidation– a form of debt refinancing that entails taking out one loan to pay off many others. Read more https://flda.co.za/debt-consolidation/
- Debt Counselling– Debt Review or Debt Counselling is a process in terms of the National Credit Act, Act 34 of 2005, where a consumer who is over indebted (struggling to maintain monthly debt repayments) applies through a registered Debt Counsellor to assist him / her in reducing their monthly repayment amount. Read more https://flda.co.za/debt-counselling/
- Debt Review– Debt Review in terms of the NCA(National Credit Act) 34 of 2005 is a formal investigation into the financial position of the consumer, in order to determine whether the consumer is over in-debted and then to renegotiate the term of credit agreements by reducing the interest rate and investigating for reckless lending. Read more https://flda.co.za/debt-review/
Finally, refrain from taking on extra debt. Even while it might seem clear, before you realize it, you’ve gotten yourself into a financial trap. Save money instead to get what you want. Simply taking a step back from the expenditure may reveal that: a) it isn’t really necessary, or b) it would be better to put money aside for it.
- Your insurance plans:
Every year, you should review your insurance coverage, it is advisable. This covers everything, including your home and auto insurance as well as your health insurance. Because there are a variety of events that could occur throughout the year, your insurance’s necessary coverage or value could fluctuate. There are other things to be on the lookout for even if you may be aware that your claims history may have an impact on your coverage and premium.
In the case of auto insurance, for instance, your premium price often decreases once you reach the age of 25. Your house insurance may change if you move or get married. Even becoming pregnant has consequences, particularly for your health insurance.
Reevaluating your policies might help you save money in addition to ensuring that you are ready for claims. According to insurance experts, looking around for the most affordable premium might save you hundreds of dollars.
For a customized financial solution plan, call Financial Debt Advisors at 0212710223 or fill out a form on our website: https://flda.co.za/application-form/