coach to guide you on good and bad debt, improving your score, and getting back on track financially.”
Ndimande shares four additional steps to maintain a healthy financial life and credit score after debt counselling:Assess your lifestyle to identify and avoid triggers such as social media which may encourage you to live beyond your means.While it’s a good idea to pay down debt quickly by prioritising debt repayment, it’s vital to have savings for unexpected expenses.Examine your debt portfolio and prioritise paying off those with high-interest rates or extended repayment periods.
improves, negotiate with your creditors for more favourable terms. Some people advocate the ‘snowball approach’, paying off the smallest debt first to free up money to pay off the next smallest debt.Avoid taking on debt that amounts to more than 25-30% of your income. Remember you don’t need to take on maximum debt just because you qualify for it.
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