Biggest Debt: How good or bad are you at managing money?
Many of us have had our fair share of problems when it comes to money, especially when it comes to borrowing money...
On Thursday, J Sbu shared a happy and proud moment with KZN about his cousin.
Read: How debt counselling can help you retain your assets
His cousin has been carrying the burden of some hefty Student Loans for some time now and he has finally been able to pay it all off and settle his debt. If that's not a moment of relief, we don't know what is...
My biggest debt was probably the most annoying debt because it was a clothing account. Probably the most stupid thing I've ever done. I was earning R2500 but I took an account that gave me a R10 000 spend. I thought I was the man, balling and buying clothes for everyone. I ended up paying it off but it took me about 2years to that. It felt like forever because the money kept on increasing.
Getting yourself into debt always seems like a far fetched thing, because when you take that initial loan or when you borrow money, you always think to yourself, "I'll be able to cover that easily" or "That's not a lot of money to pay off" - until things get serious and you are not able to pay off the money as fast as you thought you would.
Managing debt is definitely not an easy task and in some cases it can be one of your heaviest burdens, because life doesn't always work out the way we foresee it. Other people run into loss of income, others lose their jobs, others can't attain jobs because of how the economy is set up.
So, KZN, if you are able to manage your debt well or pay it off, well done and congratulations to you.
But with that said, we want to know from you, what is or was your biggest debt and how did you manage to pay it off?
Listen to the full podcast to hear what KZN had to say:
Read what Facebook users had to say:
Posted by East Coast Drive on Thursday, November 12, 2020
Listen to the full podcast