Published by admin at December 19, 2007
in news.
Now that Jacob Zuma has won the top seat of the ANC, the big question for me is how he will influence change to benefit the working class. Let us look at the consumer implications rather than the broader subject shall we?
No doubt the man is seen as thee person by the working class, hence support from the trade union COSATU. The other point is, as reported on iol:
Unlike Mbeki, Zuma has risen through the ranks without family connection, becoming part of the ANC’s second-highest decision-making body 30 years ago.
If these things are anything to go by, could one presume that Jacob Zuma will influence an interest rate decrease? Since it is the working class who are being burnt the most. [interjection: Wealthier people benefit from investments since the interest gained increases, earning them a few more Rands].
I think this is one flipside that could prove positive indeed.
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So many people ask this question: “What does it mean to be blacklisted?”
Blacklisting is a term used within the credit industry (banks, retail stores, etc) to report anyone who does not pay their debts (including companies). Emphasis on not paying as opposed to skipping one or two payments!
This is done with the hope that that person will one day require credit and the credit grantor they approach will then do a credit report check (sometimes referred to as an ITC check) with a credit bureau on the subject. On that report will be personal details, employment details and credit behaviour.
Click here to continue reading ‘The meaning of being blacklisted.’
While it does feel great this time of the year. With so much buzz around with everyone running around to get Christmas gifts, finalise holiday preparations or stock up to entertain and feed visitors. I feel we should remember our situation here in South Africa with regards to over indebtedness, overspending, savings (or lack there of) and the fact that we recently had interests go up by another half a percent just last week.
So what I think we should do is first think of our January 2008 commitments before we spend the little we have. Ensure we have enough money to meet those much needed expenses like school fees, groceries, etc. Then let us think about the saving.
Let us look at saving in two ways. (1) Being how much of that bonus you can invest and (2) being actually paying more than you need to for your current debt since you would be saving on interest. This of the second as a future saving or a cash flow management strategy since you may even reduce your monthly payments in some cases.
And worse if you do not have cash try not to give into those “buy now pay later” schemes if you can. Remember a bargain is no bargain if you do not have the money for it, even worse when you won’t be able to meet the repayments next year.
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