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In what should be their golden years, millions of pensioners face a harsh financial reality: debt. This silent crisis is leaving 33% of UK retirees with an average debt of £17,000, and the toll is more than just financial.
Welcome back to the @Economese channel where together we will learn the language of money and wealth.
#financialeducation #financialfreedom #financialplanning #retirement
Driven by the high cost of living, inflation, limited pension savings, and the pressure to support family as the “Bank of Mum and Dad,” many pensioners are caught in a cycle of loans, mortgages, and credit card debt.
This not only affects those in retirement but those who are close to retirement who may have plans that are not on track.
This video delves into the unseen struggles faced by pensioners, highlighting key findings from SunLife’s Life Well Spent Report and examining factors that contribute to this growing issue.
Our analysis explains how poor pension preparation, economic pressures, and family commitments are leading retirees toward debt in unprecedented numbers.
We also explore some potential solutions, from debt management and financial counselling and education to careful use of equity release and policy improvements that could alleviate some of the financial strain for future pensioners.
Chapters
00:00 Introduction
02:00 What is the scale of the crisis?
02:48 What’s causing this debt problem?
03:43 The debt breakdown and monthly cost.
05:00 The emotional cost of the problem.
05:53 What are the solutions?
#retirementplanning #pensionercrisis #costofliving #debtfree #retirementgoals
Sky News host Danica De Giorgio claims US Vice President Kamala Harris is “desperate” for more cash after reportedly ending up $US20 million in debt for her failed presidential campaign.
“After raising more than $US1.5 billion during her failed election campaign and ending up with $US20 million in debt, it seems Kamala Harris is desperate for more cash,” Ms De Giorgio said.
“The vice president is still reportedly pumping Democrat donors for money weeks after the election loss.”
Gauteng Finance MEC Lebogang Maile says the R20.1 billion E-toll debt will have a significant impact on the province’s already limited resources.
Tabling his medium-term budget policy statement Maile says its impact will be more pronounced given the reduction in funding to provinces from National Treasury. Speaking in the provincial legislature, he has emphasised that there will be no job cuts in education, health or any sector impacted by budget cuts and debt prioritization.
For more on the story we cross to the SABC News reporter Nosipho Radebe.
For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.
The coming Russian debt crisis will rival the Russian financial crisis of 1998. The critical point is that Russia and the Russians must turn to the credit markets if they can not meet their current cash flow needs. If the credit markets reject Russian borrowers because of bad credit ratings (three Cs of credit), Russia and the Russians will be out of cash. To me, this is a debt crisis that will exacerbate the coming Russian Financial crisis. If you can not raise or pay/service current debt, that is a debt crisis. Although in the West there is higher Debt to GDP ratios, that is not as relevant currently as Western nations can raise new debt and meet their financial obligations.
Simply put, a crisis is when you can not pay your bills. This is based on the economic idea of scarcity, infinite wants, and limited resources. We all must make trade, and Russia will have to make a choice. The myth is Russians have limitless resources. They do not. They have a failing one-commodity mechanist business model. The choice is to reform and rejoin the international community of democracies and respect human rights or face a debt and financial crisis of historical proportions.
Joanne Welch #cedawinlaw
All #50swomen to call for mediation NOW
Sign & share the updated petition with all your networks Please:
https://www.change.org/p/secretary-of-state-for-work-pensions-to-attend-settlement-talks-re-all-50swomen/u/33062898?recruited_by_id=4d358470-aa60-11ef-957d-29ce3862f5fe&utm_source=share_update&utm_campaign=share_twitter_responsive&utm_medium=twitter
Listen to Dr Jocelynne Scutt’s Radio Interview on SCR 21/11/24:
Read David Hencke’s new blog here: Westminster Confidential
https://davidhencke.com/
In this informative video, we dive deep into the world of debt counseling, unraveling its meaning, significance, and how it can work wonders in managing your debts aptly. Debt counseling is a crucial service that provides expert guidance and support to help individuals navigate the challenging realm of debts with ease.
Subscription link: https://www.youtube.com/channel/UCnK5TLNFTee5x7_yeIJa5fA
Video link: https://youtu.be/kRAKzXnIkaw
With our insightful explanation, you’ll gain a thorough understanding of the nuances involved in debt counseling and realize how it can positively impact your financial well-being. So, if you’re eager to take control of your debts and improve your financial situation, this video is a must-watch! Don’t forget to hit the like button and share it with others seeking effective debt management strategies.
For further insight you may refer to the links below:
Link 1 – https://www.liberty.co.za/media-insights/what-you-should-know-about-debt-counselling
Link 2 – https://www.moneymanagement.org/credit-counseling/what-is-debt-counseling
Link 3 – https://www.investopedia.com/terms/c/credit-counseling.asp
**Unlocking Financial Freedom: Understanding Debt Counseling**
In the labyrinth of financial challenges, debt counseling emerges as a guiding light, offering individuals a pathway toward economic well-being. Let’s delve into the world of debt counseling, exploring its significance and drawing inspiration from the experiences of the iconic figure, Mike Tyson.
**What is Debt Counseling?**
At its core, debt counseling is a professional service designed to assist individuals facing financial struggles, offering expert guidance on managing and overcoming debt. It involves a comprehensive analysis of one’s financial situation, creating a personalized plan to navigate through debt, and providing ongoing support.
**Key Components of Debt Counseling:**
1. **Credit Counseling:**
– A central aspect of debt counseling involves credit counseling. Professionals work with individuals to understand their credit reports, identify areas for improvement, and devise strategies to enhance credit scores.
2. **Debt Relief Strategies:**
– Debt counseling encompasses a range of relief strategies. From negotiating with creditors to debt consolidation plans, the aim is to create manageable repayment structures tailored to the individual’s financial capacity.
3. **Educational Insights:**
– Debt counseling is an educational journey. Individuals gain insights into financial concepts, learning how to budget effectively, avoid common pitfalls, and build a foundation for sustainable financial health.
**Learning from Mike Tyson’s Financial Odyssey:**
Mike Tyson, a legend in the boxing ring, faced formidable opponents outside it – financial challenges that led to a reported $60 million debt. Tyson’s journey underscores the importance of seeking professional help when facing financial adversity.
**Mike Tyson and Debt Counseling:**
– Tyson’s acknowledgment of financial problems marked the beginning of his transformation. Engaging in debt counseling, he embraced the opportunity to learn and implement strategies to address his substantial debt.
**Wealth Beyond Millions:**
– Tyson’s story extends beyond the debt; it’s a tale of resilience and financial rebirth. By leveraging debt counseling, he navigated the complexities of wealth and emerged with newfound knowledge and control over his financial destiny.
**Key Takeaways:**
– Debt counseling is a proactive step toward financial empowerment.
– Credit counseling is integral to understanding and improving credit health.
– Debt relief strategies offer practical solutions for managing and reducing debt.
– Educational components equip individuals with lifelong financial skills.
In conclusion, debt counseling is not merely a service; it’s a transformative journey toward financial freedom. Drawing inspiration from Mike Tyson’s resilience, individuals can embark on their path to economic well-being, armed with the tools and insights gained through debt counseling.
Because of high inflation and higher costs of living, many women are struggling to make ends meet and drowning in insane credit card debt.
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DISCLAIMER:
All content in this video is for education, illustration and entertainment purposes. The advice given should not be taken as legal, nor financial advice
Based on the guidance from the National Debt Review Center (NDRC)
In this video, you’ll learn about.
* The different debt relief options available in South Africa ??
* **How to avoid common debt traps **
* Debt Prescription
* Reckless Lending
* Sequestration
* Credit Insurance
* **And the steps you can take to achieve financial freedom! **
#debtreliefsouthafrica #southafrica #nationaldebtreviewcenter #ndrc #financialfreedom #getoutofdebt #moneysavingtips #southafricanfinances #debtfreejourney # recklesslending #prescription #debtcounselling #sequestration #insolvency #creditinsurance #creditrepair #SouthAfrica
P.S. Sharing this video could help someone you know! Be a friend and spread the knowledge.
In Episode 5, join financial experts Ester Ochse, Denise Hartley, Elmarie Dreyer, and Maya Fisher-French as they dive into the crucial topic of Debt Consolidation and Debt Review.
Gain valuable insights and expert advice on managing your finances, understanding the intricacies of debt review, and how you can use debt consolidation as a tool to empower you to take control of your financial future. Don’t miss this informative discussion to secure a brighter, debt-free tomorrow.
