Struggling to stretch your money? With a few simple habits, you can take control of your finances. Here's how to borrow smartly, budget wisely, and build a future that’s debt-free and financially secure.
- Borrow as little as possible. Borrowing to fund your children’s education or a home loan can be a good thing, but borrowing for consumables, to pay off other debt, or to fund luxuries such as designer clothing, can condemn you to a lifetime of debt. Only borrow for what you really need.
- Plan your repayments before you apply for a credit card, store card, overdraft, personal loan, or any form of credit. Also consider the interest and other charges, and how this affects your ability to save. Avoid paying over too many months, as it will cost you more in the end.
- Be honest – accurately disclose all required information to the credit provider. Dishonesty may result in losing protection under the National Credit Act (NCA).
- Create a monthly budget – calculate your total household income and expenses. Ensure you can pay off any new debt after covering monthly costs and unexpected expenses such as retrenchment.
- Keep all receipts of your payments – you may need them in the future.
- Start saving consistently – put aside at least 15% of your income every month in a safe investment. Also, save for retirement.
- Pay your debts on time. Late payments negatively impact your credit score. If you’re unable to pay, contact your provider to renegotiate terms before missing payments.
- Prioritise your bond repayments.
- Check your credit report regularly. This helps identify and fix errors. You’re entitled to one free credit report per year from each of the 13 registered credit bureaux.
- Stay informed. For more advice, contact the National Credit Regulator (NCR) at www.ncr.org.za.
This information was supplied by the NCR. For more information, visit: www.ncr.org.za
Letter to the Editor
Hello Vuk’uzenzele,
I am glad to get the opportunity to write this email to you. Will you please provide me with more information about the matric rewrite?
Kind regards,
Irene
Reply
Dear Irene,
Kindly note that the Second Chance Matric Programme supports learners who did not meet the requirements of the National Senior Certificate (NSC) or the Senior Certificate (SC).
More information is available on the Department of Basic Education’s website: Second Chance Programme
Senior Certificate (SC) candidates can register at their nearest district office or online at e-services.gov.za.
National Senior Certificate (NSC) candidates must register at their nearest district office.
Find your nearest Education District Office here: Education Districts
Contact details:
- Email: SecondChance@dbe.gov.za
- SMS/Calls: +27 63 696 7246
- WozaMatrics WhatsApp: 061 505 3023 (Subject-related queries)
Also explore previous Vuk’uzenzele articles on the Second Chance Matric Programme for further details.
All the best in your endeavours,
Warm regards,
Vuk’uzenzele
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