There is a great deal of confusion over how the interest-free period works on your credit card.
Tag - credit card
Using a credit card makes a lot of sense, as long as you have the self discipline to manage it properly.
With careful planning and budgeting, an overseas trip doesn't have to turn into a financial liability.
Amendments to the National Credit Act have set new maximum interest rates which can be charged on a loan, based on the repo rate.
Don't fall into the trap of taking on unnecessary consumption debt in a misguided attempt to build up your credit record.
In this podcast we search for the truth behind credit cards – are they really a good thing to have in your wallet?
The One Rand Family project followed the experience of a relatively well-off family living on cash only ‒ in fact R1 coins ‒ for a month.
Wikus Olivier, debt counsellor at DebtSafe, highlights a number of common financial mistakes that individuals often make, resulting in debt. However, these can be mitigated if discipline is practised and changes are made in spending behaviour. Consumers can often feel overwhelmed with the number of debt repayments they have to make on a monthly...
“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...
If you only pay the minimum due on your credit card you will remain indebted for decades. The Australian government’s website MoneySmart.gov.au has a very handy calculator that shows you how long it will take you to pay off your credit card based on what percentage of the total debt you pay each month. The really scary figure is how long it would...