The simple answer is all debt…
Unless you borrow money from a friend or relative, all and any debt will appear on the records of the debt review companies. Put another way, any loan, credit or finance through a registered financial service provider or registered credit grantor will affect your credit score.
They will able to track the details of all loans or credit purchases. They will have aces to open balances, current installments, payment history and total debt.
Want to get a personal loan but you aren't sure what your monthly payment would be? Use this calculator below to find out what your monthly payments will be.
How to use this calculator:
Enter the loan amount and the interest rate in the form below. For a personal loan in South Africa, the maximum interest rate a lender is allowed to charge is 28%. Some will charge less but you can use this as a base if you are unsure. Lastly, enter the amount of months that you want to repay the loan on and click on calculate.
Do you care for your family? Make sure that they are financially provided for if anything has to happen to you by getting enough life cover.
How to use this calculator:
To determine how much your living expenses and your current family lifestyle is, it's advised that you do a proper budget first. Once you have this information, simply enter the values in the form below and click on calculator to see how much your family will need.
Did you know that the average debt per household with at least one credit card is 75% of the household expenses?
Not knowing how much you will pay towards your credit card repayments can be devastating to your finances. Use this free credit card repayment calculator to determine how much you will actually pay if you make any credit card debt.
Use our 2018 income tax calculator to calculate how much tax you will be paying on your income.
How to use this calculator
To see how much you will be paying based on your monthly salary, enter your age and your monthly salary. This will show you the basic take home salary and tax amount. If you want to see an accurate amount, use all the fields provided in the calculator. You can deduct certain items such as retirement funds and medical expenses but they are all optional.
Want to find out how long it will take you to save for your first million rand? This calculator will show you how long it will take you to reach your first million rand.
How to use this calculator?
Enter the initial investment - this can be any fixed lump sum that you have saved up for. Then you need to enter the monthly deposit that you can allocate towards your savings.
When it comes to the interest rate you can expect to earn, you need to be realistic as possible. To give you an example, over the last 10 years, the average return on the South African stock market was 10.5% with an average inflation of 6.05%.
Your credit score is a very important part of your financial security, yet most people do not even bother to check their credit rating until they need to make a big purchase, such as a house or car. Imagine the horror of being turned down for finance because you are informed that your credit rating is low.
You may or may not be aware that every time you apply for credit and an inquiry is made on your credit report, it counts against you and reduces your credit score. Furthermore, alarm bells could well go off when a potential credit grantor sees multiple credit inquiries. In order to maintain a good credit profile and score, you want to keep these inquiries to a minimum.