Shacks in Philippi

Philippi is a township situated 40 minutes from Cape Town.

Get out of debt NOW.

Clearing a financial debt is a process that needs thorough discerning and significant lifestyle changes. It will then resolve the question why arrears came up in the first place. The following are some ways on how to get out of financial debt. Here is how you can achieve financial freedom, given here some effective debt reduction strategies

1.Make a spending plan. Write down debts, the daily expenses, and the monthly pay checks. Label unnecessary outlays such as eating at expensive restaurants or buying useless gadgets. Create a realistic budget for the monthly expenditures. Buy only those that are needed, and do not spend too much.
2.Voluntarily cut the credit card. It is more favorable to financial companies than an involuntary closing of a card. Once a debt has been paid, close the account to avoid further spending.
3.If a credit card must be used, lower the credit line and close all unused cards. Use it every month, only make small purchases, and pay them off immediately to avoid interest. One to two credit cards are enough.
4.Use discount coupons, keep an eye on supermarket sales, and get the least expensive.
5.Deal with creditors practically. Being honest with the reason for payment difficulties will help solve the debt since most creditors are willing to work with their client. If both parties agree, make an arrangement about payment schedules and stick to them.
6.Another debt reduction strategy is apparently to increase your income. It may be an additional job whether it is part-time or full-time, market your assets or even unimportant belongings such as clothing and appliances.
7.Prioritize the credits. Secured ones such as house and car loans should be on top followed by those that will be deducted from your salary such as student loans or IRS. Next are unsecured debts such as credit cards and ATM cards. Lastly, the presumed most understandable creditors: family and friends.
8.Another way is to pay small debts first to allow a sense of achievement and to free some money for the bigger credits. This is called the debt snowball method. Psychologically, this technique gives out a feeling of accomplishment and somehow a reassurance of clearing all debts.
9.Consolidate debts and pay them online. Consolidating will remove the worry of forgetting one credit, while online payments are very handy and secure too.
10.Perhaps the most certain way to clear and prevent debt is to learn how to control finances and live life frugally.

Shacks in Gugulethu, Cape Town

Gugulethu is a township 15km from Cape Town, South Africa.

Some random pics of shacks in Gugulethu.

5 GREAT steps to achieving your goal

1.WRITE it down. Many people fail to do this thinking that simply thinking about your goal will be enough but research shows otherwise. Also make it clear and add some pictures.

2.DEFINE your goal. If you’re planning to buy a house in 18 months, then you need to know how much the house costs and how much extra money you need to earn each month to afford the instalment. You’ll also need to define how you will raise that extra money on a monthly basis.

3.Be willing to put in the HARD work. Always remember that each goal has a price to pay for. It can be changing your eating habits, getting by with less money, investing a certain amount of money into a business and so on. Knowing your goal and knowing what it takes to get there is just not enough.

4.Put goals into ACTION. You need to do this on a daily basis, with each day taking you closer to your goal. Keep a to-do list. You might need to adjust from time to time but always stay on track.

5.Be PASSIONATE and focused. Passion is the fuel that drives you to get there amidst all distractions in life and will keep you going. You will also need to focus all your energy towards achieving your goal otherwise your passion will be worthless.

Gr 8 moela tip$

5 Ways to DESTROY debt

1) Get a Second Job
Use the money from this job to only pay off your debts. List your debts noting the interest rates. Pay off the debts with the highest rates first and work your way down the list.
2) Put your Credit Cards on Hold
Immediately stop using credit cards. At the very least destroy all your cards keeping just one card for emergencies.
3) Set up a Repayment Plan
Cut back on your expenses and/or use freed up cash to pay down your debts. Pay off the debts with the highest rates first.
4) Get a Consolidation Loan
Get a loan to pay off all your many debts and have just one payment to make. The new loan usually has a smaller payment and a lower interest rate
5) Use your Assets
If you have assets with some significant equity, such as a home you may be able to use these to get control of your debt. For example, you could get a loan on your home sufficient to pay off your debts. You could be saving a considerable amount of money on interest if you pay off high interest credit card debt in return for lower cost debt.

5 Ways to become wealthy

1. Spend less than you earn. This is often the most overlooked scenario, because many people believe it's a matter of cutting back on your current standard of living -- a strategy that's almost impossible for most people.

2. Make your money work as hard as you do. The real secret of financial success lies in making your money do the work, so you can relax. But that requires accumulating enough investment dollars so that the growth and earnings can free you from the need to punch a time clock.

3. Make sure your money is working for you, instead of against you. Just as your money can work very powerfully for you if you make the right decisions and stick to a plan of regular investing, wrong money decisions put potholes on the road to success. The classic example is credit-card debt.

4. Remember: If you don't see it, you won't spend it! If you take a close look at your paycheck, you'll notice a lot of deductions before you get to the amount you can cash or put in the bank. Money set aside for wealth building should be treated in the same way.

If you don't have a chance for automatic deductions to a company savings plan, then you'll have to create your own automatic savings plan.

5. Create savings and investment goals. Set your own goals. But never set a goal you can't control. Your targets can't depend on your boss giving you a raise; they must be reachable by your own efforts. You might need to invest in yourself by acquiring more education so you can qualify for a job that pays more. You might need to take more risk in your investments, or in your lifestyle by taking on a job that pays commissions instead of a fixed salary.

Gr 8 moela tip$