Image copyright Getty Images Image caption President Xi and African leaders at the FOCAC summit in Beijing, September 2018 Africa is facing a looming debt crisis, say leading development economists. “Almost 40% of sub-Saharan African countries are in danger of slipping into a major debt crisis” according to the Overseas Development Institute, ahead of a…
CASH-strapped Australians are lying to their partners about the true cost of a holiday before they set off. While getting away for a much-needed break can help relieve stress, it also can add tension when costs quickly accumulate. Some people are being dishonest to get their partner on-board, but this tactic could escalate into bigger…
DESPAIR: A rice farmer in Ayutthayas Bang Sai district takes a break from her routine work in the fields. Like most other farmers, she is in a financial predicament due to farm debts. (Photo by Pattanapong Hirunard) The farm sector has been a driving engine behind the countrys economic growth, but at the same time,…
Carrying a mortgage into a retirement can present a number of concerns for homeowners, so many experts recommend paying off this debt during the working years. This isnt always possible though, and experts in a recent NerdWallet article that was republished by USA Today, offered ways to help mortgage-carrying retirees. In the article Why you…
JOHANNESBURG – Although Halloween may not be as popular in South Africa as it is in other parts of the world, there is a new monster called skoloto (debt) that is keeping consumers awake at night. Many people are tormented by skoloto. But its a nightmare that can be overcome. Even on a low income…
The 2018 budget is being released today by the Chancellor of the Exchequer, Phillip Hammond, and a lot of it aims to help those who have found themselves with long-term debt. Phillip Hammond is set to unveil a plan to solve problem debt, helping those trapped in debt which has been caused by payday loans…
In his speech on Monday Chancellor of the Exchequer Philip Hammond announced there would be targeted support for people repaying debts to help them take control of their finances. But further analysis of the Budget papers revealed the Government wants to increase breathing space given for people in debt. This will provide a 60-day period…
Chase announced earlier this fall that in November it will discontinue its free payment management system Blueprint, due to low participation rates. As part of its tools, Blueprint allowed cardholders to choose purchase categories to pay off in full each month, and to divide a larger purchase into installments. (A spokeswoman said the bank is…
Paying off consumer debt begins with asking yourself a question, according to Adeola Omole, author of 7 Steps to Get Out of Debt and Build Wealth: Whats motivating me? Omole paid off $US70,000 in debt in less than three years and she explained how she did it on Farnoosh Torabis So Money podcast. First, you…
Debt consolidation is the conversion of high-rate debt into lower-rate debt in order to reduce total interest costs. Homeowners with large amounts of credit card debt who have unused borrowing power on their home have a consolidation option. Whether or not it is in the homeowners long-run interest to exercise the option, however, turns out…