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Bring back the ‘happy’ in ‘happy holidays’ by getting out of the generational debt prison.

Credit Ombud & MFSA

For immediate release:

11 December 2023

As soon as the 1st of December hit, there was already a festive buzz in the air. The long-awaited festive season has arrived. While we are reeling from the after effects of the pandemic, our financial woes have not dissipated. Can we really say that we have recovered when the cost of living has just increased for many consumers? Or are we just getting by, living month-to-month with the hope that things will get better?

Imagine a festive season where you spend your money with no worries about money. Where your only concern is ensuring that the braai stand is ready for all the braai’s you will be hosting for family and friends. A festive season when you need to remember what’s on your favourite aunt’s wish list so that you buy her the correct gift. Where the ‘happy holidays’ are genuinely happy and cheerful. It may seem far-fetched, wishful thinking, and too optimistic, but it is indeed possible.

Read more by accessing the full Media Release below:

14. Media release - Festive season_Credit Ombud MFSA
Download PDF • 303KB

As we prepare to put our work tools down for the year and get into the festive season, may we think before we tap or swipe. Our spending in December will set the tone for January 2024, therefore let us change the narrative of having a festive and fun December but a gloomy and worrisome January by changing our spending behaviors. The Credit Ombud and MicroFinance South Africa want to help the many consumers who want to be set free from the chains of bad debt. To the consumers who are over-indebted, who want to get out of their current debt, and to the ones who want financial freedom, we are referring to you. Change the narrative of a broke January and transition into a debt-free life.

We have created a PERSONAL FINANCIAL REVIEW CHECKLIST. Upon completion of the Personal Financial Review Checklist, you will be able to understand your financial position and determine whether you should take the necessary steps to become debt-free. The link to the checklist:

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