What is considered as good debt? Is buying clothes with a clothing account a good debt?

The covid-19 pandemic led to a lot of job losses and many people failed to pay off their debt, that drew a lot of attention to the topic of debt and whether it was really beneficial to ones livelihood.

Debt can negatively impact your credit score and this can ruin your chances of qualifying for any credit going forward but at the same time if used well, can help you to buy assets that will increase your source of income.

I hope that you will enjoy this episode, please do not forget to like, comment and subscribe !!

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Is Debt Review A Good Thing?
The answer is undoubtedly that debt review is a very good thing for over-indebted consumers.

This is actually a very good thing, as it prevents you from racking up more debt and helps you become debt-free.

All of your debt repayments will be consolidated into one reduced monthly repayment plan.

The great thing about debt counselling is that instead of paying numerous accounts, which you can easily lose track of, The National Debt Review Center will work out an amount that covers all of your repayments.

This includes all your legal fees and debt review costs, with lower interest rates.

You do not pay any money upfront.

In light of this, always be sure to contact The National Debt Review Center here or at info@ndrc.org.za as soon as you begin to struggle with your payments, so that all of your instalments can be reduced immediately.

Link to Article – https://ndrc.org.za/is-debt-review-a-good-thing

The Debt Consolidation Myths Are Revealed – by Rick Sorrentino, Senior Account Executive at Golden Financial Services. Mr. Sorrentino provides insight on debt consolidation loans, that could save you thousands of dollars down the road, and help you to avoid making one of the worst decisions in your life. That’s not to say a debt consolidation loan to payoff debt, can’t be a great solution, but this video will teach you how to properly evaluate the decision on when to get a consolidation loan or when not to! Watch this video as Rick Sorrentino drives to work at Golden Financial Services for the day! I guess you can call this Rick’s warm-up, as he gets ready to assist consumers all day with their debts! Want to learn more about debt consolidation and how it works? visit us online at: https://nomorecreditcards.com/debt-consolidation/bad-credit-debt-consolidation-hardship-program/

So, is debt consolidation a good idea? The truth about debt consolidation comes out! There are many views on debt management: some believe that it is a good approach to get out of debt, but I have another take on that. Of course, in some particular situations, consolidating debt may actually be a good thing, since a higher interest rate can be devastating to somebody trying to get out of the debt pile. However, it’s important to know which situations could be compatible with debt consolidation approach, and in which situations it is better idea to adjust your spending habits and think of the way to increase income. Let’s analyze this and understand why I believe that debt consolidation is not the best way towards being debt free.

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This Video: https://youtu.be/Bz6rzyvVNc8
Channel: https://www.youtube.com/channel/UCgyZc8B9MwtUzsKlp6_e54g

#debt #debtconsolidation #debtmanagement

In this episode, we are talking about debt review. What debt Review really means and the right tools you need before you can sign up for it or if you know someone who might need it.

To check the registration of a Debt Counselor please click here:

https://ncr.org.za/register_of_registrants/registered_dc.php

Good Hope Debt Relieve provide professional debt counselling services in Cape Town:
Relieve you of your debt by negotiating better terms with your creditors
Lower your monthly debt payments by up to 50%
Save you money
Solve your debt problems
Free advice and consultations
Avoid extra cost and stress
Protect your assets such as your home or vehicle
Avoid legal action from your creditors
For more information, please visit www.ghdebtrelief.co.za

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Some say that debt is the gateway to your goals, others say it’s a ball and chain that will drag you down… So who’s right?

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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.

sources:
http://archive.boston.com/bostonglobe/ideas/articles/2011/08/21/which_came_first_money_or_debt/
https://www.debt.org/advice/good-vs-bad/#:~:text=What’s%20the%20difference%3F,for%20it%2C%20it’s%20bad%20debt.
https://www.richdad.com/how-to-start-a-business-without-money-part-1#at_pco=smlrebh-1.0&at_si=5edeae9a55751dc1&at_ab=per-2&at_pos=0&at_tot=4
https://thecollegeinvestor.com/4726/ultimate-hypocrite-robert-kiyosaki-companys-bankruptcy/
https://www.gpb.org/news/2011/07/24/the-evolution-of-debt-from-mesopotamia-to-america
https://www.aplu.org/projects-and-initiatives/college-costs-tuition-and-financial-aid/publicuvalues/employment-earnings.html#:~:text=On%20an%20annual%20basis%2C%20bachelor’s,is%20a%20high%20school%20diploma.&text=The%20earnings%20gap%20between%20college,less%20education%20continues%20to%20widen.&text=For%20high%20school%20graduates%20the,earnings%20are%20%2430%2C000%20a%20year.

Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
Directors: Katie Graham & Andrew Matthews
Written by: Philip Olson, CFP® and Julia Lorenz-Olson
Executive Producer: Amanda Fox
Produced by: Katie Graham
Edited & Animated by: Andrew Matthews
Images by: Shutterstock
Music by: APM

#SouthAfrica #debtconsolidation
What to consider before you go for a debt consolidation loan.

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Is debt consolidation a good idea or not? I love this topic and I am going over some money tips to help you decide what is the best way for you to pay-off debt and become debt-free.
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My channel is all about HELPING YOU being debt free, saving money and building wealth. Our family paid $185K in debt in 46 months and on a path to financial independence. I want to help YOU reach the same level of financial success!!!!!!!

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I am extremely passionate about personal finance and my mission in creating @MoneyTipFeed, is to provide my viewers, subscribers and followers with valuable content to get them excited about their own finances and on the road to DEBT-FREEDOM and CREATE PERSONAL WEALTH! My videos are a reflection of my passion to help YOU create wealth and what I personally have done that helped our family payoff $185K in debt in 46 months, create our own wealth and change our family tree. I don’t subscribe to the theory that financial freedom is ONLY for the rich. I would be so honored if you joined me (subscribe) and let me become an important personal finance resource in your life. Let’s do this together, no doubt I can help you on your debt-freedom and wealth building journey.

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Check out other great videos:
*** How To Budget https://youtu.be/Mfttt4DRonU
*** 17 Frugal Money Tips https://youtu.be/kFIVltRh_L0
*** 5 Money Mistakes that will Haunt You https://youtu.be/vaaBavSTESI
*** How to stop LIVING PAYCHECK TO PAYCHECK https://youtu.be/DlMe-SS8jGo
*** Our First Debt-Free Budget https://youtu.be/Kl9Pq1789Tw
*** One of my BEST MONEY ADVICE https://youtu.be/X12RLdk5UPo
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(Disclaimer: all views and opinions on this channel should be seen as entertainment and my own personal opinion. Before making any financial decisions please consult your financial advisor or financial planner to make a decision based on your own circumstances.)

DIY Debt Settlement Guide: https://www.amazon.ca/Enough-Settlement-Guide-Creditors-About-ebook/dp/B00D48ZAF0/ref=sr_1_1?ie=UTF8&qid=1472668378&sr=8-1&keywords=diy+debt+settlement

if you can’t get a debt consolidation loan, your options are limited to debt settlement, bankruptcy or consumer proposal and credit counselling. Check out the video to learn more about all these options