Ricochet News

Use the right rescue tool and get yourself out of debt

Jan 23, 2018
Use the right rescue tool and get yourself out of debt

Over-indebtedness is stressful, unpleasant and yes, it is unfortunately real. By the look of things, it seems like more and more consumers are finding themselves in difficult financial situations.

Perhaps you can associate, and are currently overwhelmed by your own financial position – knowing that 2018 has only just begun and turning a new leaf seems kind of impossible. No need to worry – Zeeva’s got your back.

Try and get into the habit of using the ‘ZEEVA acronym’ as recommended by Carla Oberholzer, spokesperson at Zeeva. It is a valuable rescue tool to help you to get out of debt for good.

Z - Zero your debt

There is one of two options that you can consider when trying to get rid of your debt:

  • you can either make use of the so-called snowball effect by paying off your smallest debt first (like a clothing account); or
  • you can use the avalanche method – where you pay off your debt with the highest interest rate first, like your credit card.

E - Elevate your mood by saving more

It’s not easy to uplift your mood these days while economy downgrades, fuel price hikes and financial uncertainties are hanging over your head. But, don’t you think you need to worry a bit less about things that you can’t control and rather get your own micro-economy going?

You can create your own mini-economy by starting to save some of your hard-earned cash and in the long run, lots of it. Start by re-examining your budget again and see where you can cut on unnecessary expenses to grow your savings.

You can also make use of phone apps like Unsplurge and Spending Tracker to assist you with your savings’ goals – making it easier along your ‘savings way’.

E - Evaluate your lifestyle

Have you been keeping up with the Joneses lately? Remember an appearance is what it is – an appearance.  What about being your unique self this year? Be careful not to compare your lifestyle to someone else’s.

Take a look at your current needs and live within your means from now on. Also, practice some self-control when it comes to ‘glitz and glamour’ shopping and spending outings.  You (and your purse) won’t regret it.

V - Vouch to protect yourself and your loved ones

Life takes unexpected turns whether you want it to or not. Therefore, make sure you have credit linked insurance to take care of yourself and your loved ones when unpredicted (or in some cases predicted) things happen like temporary or permanent disability, retrenchment, maternity leave as well as death.

Take a look at Zeeva’s effective Income Rescue Tool to assist you with making the best possible choice.

A - Allow yourself a financially-free future

YOU are the most important ‘instrument’ that you need, to be the best ‘debt-free me’ version of yourself. So allow yourself a happy financial life by getting ‘involved’ with your finances. Take control of your debt situation.

If you get to a stage where you feel uncertain about a financial decision – just ask. Professionals like bankers, financial advisors and Zeeva’s team (for women) are available to rescue you out of your misery and to assist you with various debt management solutions. 

Make use of the above financial rescue tool and tips this 2018 and be the financially free person that you want to be. You owe it to yourself.