Debt Rescue CEO, Neil Roets, says once people are paid in early December this gives them a false sense of well being and over spending occurs.
Salaries are paid in early December and people forget that their next pay cheque only comes at the end of January when they have expenses that need to be paid for like school fees and uniforms. It's only then that they realise how much has been overspent.— Neil Roets, Debt Review
People need to learn how to budget for the festive season. The problem in South Africa is that people are not financially educated and you cannot borrow yourself out of debt.— Neil Roets, Debt Rescue
To hear what Roets had to say about consolidating accounts and debt review, listen here:
This article first appeared on 702 : How to beat financial ill discipline over the festive season