The best is when the Finance House actually calls you to shout at you because you have paid you dept as you now jeopardise their repossession arrangement! Guess someone there wanted our car desperately! It is a well known Bank. Thank you to Nedbank and Standard bank who does not let us get into frenzy and thus can instead focus on getting our finance back on tract so that we can pay them.

I agree with you, however there are a lot of uncontrollable macroeconomic factors that affect everyone globally. You must remember that no company is in the business of paying salaries. It is a cost and they will pay as little of it as possible. Our education system needs to change drasticaly to encourange enterpreneurship. We need to teach basic economics froma very young age. We need to promote the culture of saving to ensure that people save in anticipation of bad times and not spend in anticipation of good times.

I agree. But the big banks are vultures out there. I too can barely afford to keep a roof over me and my kids' heads not to mentioned put food on the table. Two months in a row, ABSA bank applied a set-off on my account (meaning debited my account as they liked) t pay for my credit card debt with them that I have been battling to pay. In September, they debited my whole salary which made me sick to my stomach and not to mentioned put me further into debt as I had to acquire a loan to meet some of my basic needs. In October they debited my account again. I can't believe these vultures...they have absolutely no sympathy whatsoever and do as they please which widens the whole of the debt trap not to mention that their actions can actually make one surrender to killing themselves because of what ABSA bank is doing to their clients. They are pathetic!

I fully agree. If I see the salaries my company pays it is no wonder the staff is desperate, yet the owners of the company still have their gloryfied life. The staff sees this and obvious are not motivated. The increases this year were a shame, yet there was money for new cars, renovations, overseas holidays etc. Lets me wonder.

I totally agree with the need for financial education. However another matter that I believe is seriously affecting the economy and productivity in SA is ITC. This should only be taken into account on a individual basis because it's forcing highly qualified and experienced people to leave the country. As a personnal excample:I'm very highly qualified (including a CA (SA)) with 17 years experience and no debt at all. But because of a ITC listing from 6 years ago (not even a judgement, only an adverse listing) I cannot find employment in the financial sector which is my speciality. This is simply forcing me to emigrate and I'm wondering how this country can afford to lose experienced people like me.

All you've said above is true. Most people didn't realise that you cannot spend money you don't have, Easy credit made it look great. Now comes the problem. My suggestion...pay your mortgage, don't pay anything else. Those companies, mostly finance companies have been ripping you off. Don't pay them any more!. They've made huge profits already...and they were stupid! They gave credit to anyone with a pulse, without checking they could really pay. How dumb can you get!

I agree with this from the bottom of my heart you have to stay in a job that you hate and that pays you peanuts because you cannot get a job that you study for because you are blacklisted, and a lot of companies take advantage of that situation when they check out your status on ITC which I feel is wrong they should take on the best person for the job. And give that person the correct salary

Surely a lot of people can relate to the poor economy but doing nothing about it does not help the situation. A lot of people do not know that there is help out there, ranging from Debt Counsellors that can help you negotiate your current payments with your creditors, your employers are there to listen to what the problem of their employees are as this has an impact on the employees productivity which will negatively impact on the company's bottom line. We all need to acknowledge that we are going through this phase and find ways to sort out our financial frustrations through responsible and sensible ways in order to avoid losing what we have already worked for and paid by ignoring our creditors and not taking our employers calls...Imagine if they were to pay half of your salary at the end of the month and were never there to explain to you what happened or why that is the case?..... responsible lending and responsible spending is what we all need to be practising right now. it's only going to get worse and we better practise being carefull in how we spend our money or borrow money now than have regrets later....

Nail on the Head - i earn a pretty decent salary but with increase in interest rate etc - shoop - i even have the bank calling me about bouncing debits orders etc. it is really frustrating me

Surely a lot of people can relate to the poor economy but doing nothing about it does not help the situation. A lot of people do not know that there is help out there, ranging from Debt Counsellors that can help you negotiate your current payments with your creditors, your employers are there to listen to what the problem of their employees are as this has an impact on the employees productivity which will negatively impact on the company's bottom line. We all need to acknowledge that we are going through this phase and find ways to sort out our financial frustrations through responsible and sensible ways in order to avoid losing what we have already worked for and paid by ignoring our creditors and not taking our employers calls...Imagine if they were to pay half of your salary at the end of the month and were never there to explain to you what happened or why that is the case?..... responsible lending and responsible spending is what we all need to be practising right now. it's only going to get worse and we better practise being carefull in how we spend our money or borrow money now than have regrets later....