Tag - avoid debt

Can you live debt free?

I was recently interviewed by a magazine who asked if it is possible for a family today to live debt-free. My reply was “absolutely”. I believe that because of the proliferation of credit cards and easy access to credit, we have forgotten how to live without debt. If I think back to my parents’ generation, for most of them the only short-term debt...

The risk of easy credit

“I’ve always been a saver and have hated debt with a passion. I applied for a store card to create a good credit rating. It soon became clear that I am not a disciplined spender so I paid off the card and closed the account. This year I bought a car, and used my savings to pay the deposit. This left my money market piggy bank running on...

Debt: the kiss of death

Recently I had two very disturbing conversations about the world of debt. The first was a conversation with someone from the Credit Ombud about how debt administrators and debt collectors farm debtors’ books. Although this practice is less lucrative now that the National Credit Act has put limitations in place in terms of interest charged, many...