Pay off the debt first

Freedom asks: Am I doing the right thing by starting an investment even though I am under debt review?

Maya replies: Your priority is to get out of debt first. That is costing you more than the money you would make from investments. For example, if you have short-term loans you are probably paying about 25% in interest.
There is no investment that can guarantee you that kind of return.

Use all your extra money to get out of debt review as quickly as possible. Once you are out of debt review, then the money you were using to pay off your debts you can start to use to invest.

Read more news, blogs, tips and Q&As in our Smart Money section. Post questions on the site for independent and researched information.

Client Media Releases

Durban team reaches Enactus World Cup semi-finals
IIE Rosebank College opens campus in Cape Town
Pharmacen makes strides in 3D research for a better life for all
UKZN neurosurgeon on a mission to treat movement disorders
Teraco achieves global top 3 data centre ranking
ContinuitySA's Willem Olivier scoops BCI award
MBDA to host first Eastern Cape Fashion and Design Council
Sanral puts out N2/N3 tenders worth billions
EPBCS lives up to expectations
The benefit of unpacking your payslip