💯. I had this chat with a friend recently when I refused a professional account and settled for a basic cheap one because I can’t pay huge fees at EVERY bank just because I qualify. Nah
So I no longer live and work in SA. So while I was visiting SA a couple of months ago, I went over budget as things are surprisingly expensive in SA as well. So I tried applying for a loan ya R30k just to cover a few things. I was told that as I no longer work in SA I’m unemployed and the only thing I can’t apply for is R350 ya government. So I applied for an overdraft for €2000, paid it back in the next two months and then closed the overdraft facility with my EU bank. That costed me only €6 (+/- R120). Sometimes an overdraft can be better than a personal loan. But again…SOMETIMES
I cannot thank you enough for this video. There and there I was immediately convicted of a financial mistake or mistakes I’ve have got myself into lately.
So true, I had the same thing but with me I took another bank for financing and I end up reversing that debit order, coz I was told stories about my money! Was just lucky that month was not debited by the new finance.
This is why when I get money I usually keep what I need in my current account, then move everything else to savings and accounts at other banks (because in SA you never know when the systems will be down) and withdraw some as cash. That being said I've had pretty good service from my FNB banker and her analyst but they're not in Joburg so I'm assuming they're managing fewer accounts. I don't have an overdraft or credit cards but I wish I did for times when the company I work for couldn't pay me on time. It's helpful for when you know there will be cash coming in but not immediately so you don't use all your cash
Thank you very much for this information. It really seems impossible, I live from paycheck to paycheck, my mom recently passed away and now I have a financial burden to take care of my younger sister and she has a newborn baby. Yhoo it is just too much! Ended up using my savings to also cover for funeral expenses. I have a side hustle mara it is seasonal. At times being the only person employed in the household makes it difficult to even have a good savings plan.
Hey Nicolette, isn't it better to sell your car yourself at like Getworth or Weelee and get a higher amount than be ripped off by the dealers, or at least compare before trading it in with the dealer?
bruh, the way I waste money there by the 30 days account. I put money in it, then use it as a planner for my weekly groceries. so I schedule payouts for every Monday. Because if it is chilling on my everyday account well, we all know about bored money being gone money.
Hi Nicolette i sometimes see my personal account negative i just had to check if theres no overdraft something on it, actually i did not apply for it, is it possible they did? because i usually move all my money to investment accounts, secondly how can i stop that thing?
Banks can make mistakes and it can get worse, mfc didn’t recognize my installment and additional payment in December, they were phoning me left and right 😢. Yooo what a horrible experience
Hey Nicollete, Do you have an idea what interest% should be charged for different credit scores? I.e. If the credit score is 550 = -+15% 690 = +-10% Especially for home and car loans?
It unfortunately doesn’t work like that because it’s dependent on individuals credit rating and affordability. Usually secured debt is lower than unsecured debt. There are obviously limits as per the NCA act of how much they can charge you. They all start off the base which is the prime lending rate - 11.75%
I’m so ashamed of my financial state shame and what I have put my self into. Thank you sisi for opening my eyes
Telling us the truth and nothing but the truth.
💯. I had this chat with a friend recently when I refused a professional account and settled for a basic cheap one because I can’t pay huge fees at EVERY bank just because I qualify. Nah
So I no longer live and work in SA. So while I was visiting SA a couple of months ago, I went over budget as things are surprisingly expensive in SA as well. So I tried applying for a loan ya R30k just to cover a few things. I was told that as I no longer work in SA I’m unemployed and the only thing I can’t apply for is R350 ya government. So I applied for an overdraft for €2000, paid it back in the next two months and then closed the overdraft facility with my EU bank. That costed me only €6 (+/- R120). Sometimes an overdraft can be better than a personal loan. But again…SOMETIMES
I cannot thank you enough for this video. There and there I was immediately convicted of a financial mistake or mistakes I’ve have got myself into lately.
Beautiful. Thank you babe for your hard work and dedication. Thanks to my homie for sending me this vid as well 💕. Nothing but facts were made
Wow, your understanding of the system is amazing!
Beautiful skin 😅. Beautiful hair 🎉.
Always insightful information
So true, I had the same thing but with me I took another bank for financing and I end up reversing that debit order, coz I was told stories about my money! Was just lucky that month was not debited by the new finance.
This is why when I get money I usually keep what I need in my current account, then move everything else to savings and accounts at other banks (because in SA you never know when the systems will be down) and withdraw some as cash. That being said I've had pretty good service from my FNB banker and her analyst but they're not in Joburg so I'm assuming they're managing fewer accounts. I don't have an overdraft or credit cards but I wish I did for times when the company I work for couldn't pay me on time. It's helpful for when you know there will be cash coming in but not immediately so you don't use all your cash
As Always Nicollete doing the Lord's work. ❤❤
Thank you very much for this information. It really seems impossible, I live from paycheck to paycheck, my mom recently passed away and now I have a financial burden to take care of my younger sister and she has a newborn baby. Yhoo it is just too much! Ended up using my savings to also cover for funeral expenses. I have a side hustle mara it is seasonal. At times being the only person employed in the household makes it difficult to even have a good savings plan.
The little sister must also start taking account for her actions.
This is very informative ❤
Thanks so much wekaMashile💚you are appreciated
Very educative, thank you
Hey Nicolette, isn't it better to sell your car yourself at like Getworth or Weelee and get a higher amount than be ripped off by the dealers, or at least compare before trading it in with the dealer?
These are so helpful! How do I book a coaching session?
Thanks 🙏 sisi, for this financial education. It’s irritating to be double debited on your account
The concept of notice accounts baffles me
what ever lens you used here and settings do it more often. The picture is so pleasing :)
Brilliant advice. Building loans cannot be given for houses built in the village as far as I know. Not all of us can build in urban SA.
Try Ithala bank
@@TheDerekCrosson thank you. I checked it out, unfortunately for me, it only carers for properties in KZN according to their website.
This video is informative. However, when it comes to have an overdraft, I think that it's better to have one in case your balance goes into negative.
when you shop around for better interest rates, doesn't that hurt your credit score due to many hard enquiries done on your name?
Which credit card is the best? The one with interest free of 55 days?
bruh, the way I waste money there by the 30 days account. I put money in it, then use it as a planner for my weekly groceries. so I schedule payouts for every Monday. Because if it is chilling on my everyday account well, we all know about bored money being gone money.
In my mind I have forgotten that I have an overdraft facility -- its so detrimental .
yes it can be useful when needed , but discipline is required.
Ke rata voice ya gago ❤
❤❤❤
Hi Nicollete. Income to debt, meaning anything you pay interest on not other expenses like insurance, medical aid,etc?
Hi Nicolette i sometimes see my personal account negative i just had to check if theres no overdraft something on it, actually i did not apply for it, is it possible they did? because i usually move all my money to investment accounts, secondly how can i stop that thing?
Banks can make mistakes and it can get worse, mfc didn’t recognize my installment and additional payment in December, they were phoning me left and right 😢. Yooo what a horrible experience
Hi, can one transfer bonds accounts into a trust account even if initially the bonds were not registered into a trust
Hi Nicollete, How do I book a coaching session .
Hy sis...but how do u do it
Yoo 😂me and over indebtedness they would not find anything to debit😂
😂😂😂😂😂
@@NthabisengLetsatsi 🙈
Hey Nicollete,
Do you have an idea what interest% should be charged for different credit scores?
I.e. If the credit score is 550 = -+15%
690 = +-10%
Especially for home and car loans?
It unfortunately doesn’t work like that because it’s dependent on individuals credit rating and affordability. Usually secured debt is lower than unsecured debt. There are obviously limits as per the NCA act of how much they can charge you. They all start off the base which is the prime lending rate - 11.75%
@@FinancialBunny I hear you, thank you🙌🏽
I will make them pay that money same day.. Don't play with ppls money.
Nna kao rata