Avoid Debt Traps: Stay Debt-Free with Expert Advice

Become debt-free by avoiding the causes

Many South Africans buckling under the heavy weight of debt describe a sudden, overnight’ realisation of the size of their financial dilemma. The gradual build up to a financial meltdown seems to go unnoticed until one day, often in a person’s mid- to late twenties, when he/she makes an assessment of the future and sees only crippling debt.

Whether you are already in the process of professional debt relief or considering getting professional assistance, it is valuable to go back to the root of your financial dilemma, in order to avoid the mistakes that led to your debt in the first place.

To become and STAY debt-free, the following mistakes should be avoided at all costs:

  • Not working with a budget or spending plan. It is vital to set clear spending goals: without them, you will have minimal chances of staying out of debt. You cannot afford to lose your extra income towards high-interest monthly credit payments. A clear and fixed budget will help you live within your means and make it possible to build up an emergency fund.
  • Making irresponsible purchases will make it almost impossible to become debt-free and destroy any progress you’ve started to make in your debt repayments. Self-discipline is the key secret to becoming and staying debt-free. Aim to weigh up the consequences of every purchase and avoid those that will steer you away from your ultimate goal: living a debt-free life.
  • Purchasing a new car every few years. Buying a new car when you are only a few months away from paying off your current car loan is not a financially sound decision, even if you have a steady income – in fact, it will defeat your best efforts at becoming debt-free.

Ready to take control of your finances and become debt-free? Contact ZeroDebt today and let our expert team guide you through the process of debt relief. Whether you’re struggling with debt or seeking professional advice, we’re here to help. Call us at 087 702 1738 or fill out our contact form to schedule a free consultation. Take the first step towards financial freedom with ZeroDebt, registered with the National Credit Regulator.