Debtfree Issue 202402 - DB
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Viewing your credit score regularly and working through<br />
the report, will also give you an indication of the interest<br />
rates that you are paying and the effects rising interest and<br />
inflation is having on your finances.<br />
2. Work out how sustainable your debt-to-income ratio is.<br />
In simple terms this means understanding how much<br />
disposable income is left after you’ve made your credit<br />
repayments. DebtBusters’ research shows that if you spend<br />
more than 30% of your income to repay credit, it’s a red flag<br />
and you should be considering how to reduce that ratio.<br />
DebtBusters has created a free online tool to make it easy<br />
for consumers to see their Debt Sustainability Indicator<br />
(DSI) score –visit www.debtbusters-client.co.za and follow<br />
the prompts.<br />
3. Speak to an expert.<br />
If you are concerned about your debt, speak to an expert<br />
about what the options are to improve your situation and<br />
relieve your debt burden. Any reputable debt counsellor<br />
should be able to offer a free, no-obligation assessment<br />
and recommend a solution that could include debt<br />
consolidation or debt counselling.
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