Everything Counts | Ep 3: Managing Debt
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Everything Counts is a podcast series dedicated to exploring the ins and outs of personal finance. Hosted by 702's Motheo Khoaripe, each episode brings together financial experts to tackle crucial topics like saving, debt management, investing, and smart financial habits. The goal is to empower listeners with the knowledge and tools they need to achieve financial wellness.
In this episode, we explore the complex world of debt, credit scores, and financial management. Financial experts Kgomotso Motlaung, seasoned Investec financial advisor, and renowned consumer journalist Maya Fisher-French, join Motheo to discuss the temptation of over-borrowing, the importance of managing credit scores responsibly, and the pros and cons of debt consolidation. They also delve into the delicate balance between paying off debt and saving, sharing practical strategies like survival budgeting and the power of early investment.
Whether you're struggling with debt, looking to improve your credit score, or seeking advice on how to balance saving with debt repayment, this episode offers valuable insights to help you navigate your financial journey. Tune in now and start taking control of your financial future.
Skip ahead
00:00 Introduction
01:00 What is debt?
03:00 Good debt vs bad debt
04:10 The importance of having an emergency fund
06:00 How to get out of debt
07:15 Budgeting
09:20 Negotiating interest rates
11:00 What is a balloon payment?
12:00 Personal loans for debt
14:16 Knowing what you qualify for and what you can afford
16:38 Be aware of your credit score
20:30 Debt consolidation
22:57 Paying off debt vs saving
25:20 Survival budget
You may be interested in:
LifeStarter by Investec Life
The life you’re working towards is anything but ordinary, that’s why we’ve designed extraordinary life insurance solutions to help you protect it. But we understand that managing competing responsibilities and financial pressures can feel like a balancing act. So, we’ve developed a product to kickstart your life insurance journey with us. Introducing LifeStarter by Investec Life. A complimentary life insurance package, made for you.
In this episode, we explore the complex world of debt, credit scores, and financial management. Financial experts Kgomotso Motlaung, seasoned Investec financial advisor, and renowned consumer journalist Maya Fisher-French, join Motheo to discuss the temptation of over-borrowing, the importance of managing credit scores responsibly, and the pros and cons of debt consolidation. They also delve into the delicate balance between paying off debt and saving, sharing practical strategies like survival budgeting and the power of early investment.
Whether you're struggling with debt, looking to improve your credit score, or seeking advice on how to balance saving with debt repayment, this episode offers valuable insights to help you navigate your financial journey. Tune in now and start taking control of your financial future.
Skip ahead
00:00 Introduction
01:00 What is debt?
03:00 Good debt vs bad debt
04:10 The importance of having an emergency fund
06:00 How to get out of debt
07:15 Budgeting
09:20 Negotiating interest rates
11:00 What is a balloon payment?
12:00 Personal loans for debt
14:16 Knowing what you qualify for and what you can afford
16:38 Be aware of your credit score
20:30 Debt consolidation
22:57 Paying off debt vs saving
25:20 Survival budget
You may be interested in:
LifeStarter by Investec Life
The life you’re working towards is anything but ordinary, that’s why we’ve designed extraordinary life insurance solutions to help you protect it. But we understand that managing competing responsibilities and financial pressures can feel like a balancing act. So, we’ve developed a product to kickstart your life insurance journey with us. Introducing LifeStarter by Investec Life. A complimentary life insurance package, made for you.
