How to weather the financial storm……
Cut your monthly costs by consolidating your accounts and debt into your home loan.
Use the equity in your property to consolidate your accounts.
Equity is the difference between a property’s market value less the outstanding bond amount.
For example:
You purchased a property and bonded it for R600 000. Since then you have paid in and and decreased the loan amount to approximately R450 000, whilst the market value has increased to R850 000.
This means you have equity of R400 000 in your property. This equity could be used to consolidate your accounts. Here’s how:
*The credit card installment is based on a revolving amount and is calculated at 10% of the outstanding amount.
Note: The above is an illustrative example. It is indicative only and uses approximate amounts.
The plan is designed specifically to help you recover from your current negative monthly cash flow to a more positive, stable and affordable position. And in doing so, solve your short term financial problems.
If there is anything we can do to help you – Don’t hesitate to give us a call TODAY !
If you are interested in seeing how consolidating your debt might work for you, there is a convenient online debt consolidation calculator at moneycentral.msdn.com.
Your debt ratio is an important number to be acquainted with. It tells you how your monthly debt payments compare to your monthly income. A high debt ratio might indicate that your monthly expenses are becoming unmanageable.
It also might discourage lenders from loaning you any more money. Use the Debt Evaluation calculator to determine whether your debt ratio is acceptable or too high.
Complete Your Financial Plan
Sign Up To Our Mailing List
Estate planning is a complex process that requires careful consideration and attention to detail. Even with the best intentions, it’s easy to make mistakes that can lead to unintended consequences, such as disputes among heirs, unnecessary taxes, or the mismanagement of assets.
Read More ...Posted by Gary Walker on Thursday, September 19, 2024 Views: 15
The key purpose of estate planning is to ensure that your estate is distributed according to your wishes and that your loved ones are taken care of after your passing. It also involves planning to reduce taxes, legal fees, and court costs.
Read More ...Posted by Gary Walker on Wednesday, August 21, 2024 Views: 271
Personal financial planning is the process of managing your financial resources to achieve your life goals. This includes budgeting, managing cash flow, planning for retirement, saving and investing, handling taxes, protecting against risks, and preparing for major life events such as education and estate planning.
Read More ...Posted by Gary Walker on Wednesday, July 24, 2024 Views: 202