Sometimes you just need quick to-the-point answers to your questions regarding money and personal finance issues without the fluff.
So here are some of the most common questions answered in a word with links providing more content if needed.
- To get approved for a loan in South Africa, what’s the minimum age you need to be?
18 - How to get a student loan for university?
NSFAS - How can I simplify all of my debt repayments?
Consolidation - How can I save more money to pay off my debt?
Tips - Waht is the minimum age to qualify for a credit card?
18 - Can your employer deduct money from your salary, for a loan or any other reason, without your authorisation?
No - Is it lawful for your employer to make statutory deductions, like PAYE & UIF, from your salary without your authorisation?
Yes - Is it unlawful, in terms of the NCA, to take out a loan or additional credit if you are under debt review, debt counselling or under administration?
Yes - If you are desperate to get a loan, is it advisable to approach a loan shark for credit?
No - When you’re drowning in debt is it worth trying to save money to become debt free?
Yes
To conclude, many people in South Africa are lacking in basic financial literacy when it comes to their personal finance matters which could cause undue stress by making poor decisions when it comes to your money.
So I hope that these answers to these 10 most frequently asked money questions will help you make informed decisions going forward.
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