Repaying the money you owe doesn’t have to be a daunting task — and it needn’t take a lifetime either, says NedbankWorking out the amount you’re paying off on each debt as well as seeing how much money you’ll free up by paying off your debts can be incredibly motivating. Picture: 123/RF/andreypopov
For most people, the Covid-19 pandemic hasn’t just been physically and emotionally draining, it’s also been financially devastating. As a result, many of us now find ourselves repaying debt, which leaves little money to save. The good news is that, while it may seem impossible now, with a little careful planning, it is possible to get out of debt and transform your financial reality.The first step towards a debt-free life is acknowledging all the debt you have. It takes courage, but it’s essential. Sit down and make a list of every cent that you owe on cards, loans, finance agreements and the like.
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