Set and achieve your financial goals

  • Immediately

    • Pay your debts and bills on time
    • Create a monthly budget
    • Identify areas where you can reduce spending and save
    • Apply for additional loans if you know you can afford to pay the monthly repayment amount
    • Determine your net worth using the below calculation (your goal is to have a positive net worth):
      • Total assets – Total liabilities = Net worth
      • Total assets: Combine all your money from your savings or cheque accounts, trust funds, property value, car value, stock value, etc.
      • Total liabilities: Combine all your debts such as home mortgage, credit card balance, etc

  • Short term

    • Check your credit status and financial reputation regularly
    • Review your bank statement and confirm that all debit orders are correct
    • If you have a car, make sure it’s insured for the correct book value
    • Shop around for insurance
    • Reduce your cellphone bills
    • Get the best deal on your bank accounts (Call your bank to make sure you have the best fee option on your accounts)
    • Consolidate your credit card debt and commit to pay off your account as soon as possible.
    • Reducing your credit card and overdraft limits
    • Review the value-add services on all your accounts so that you know what that R3 or R4 is for on every one of your statements
    • If you have a home loan, consider fixing your home loan interest rate

  • Medium term

    • Pay the amount agreed to on each account on time and each month
    • Pay off the smallest credit account first
    • Pay in a bit more on the credit card that charges the highest interest rate
    • Pay extra into your home loan every month
    • Always save at least three months' living expenses, should any unforeseen accident, loss of employment or emergency arise

  • Long term

    • Save and invest for your future, your children’s education, or for retirement
    • Invest in a home you can afford
    • Lower your monthly repayments by applying to consolidate your debt with your home loan
    • Invest in yourself and increase your earning power
Need more help?

Let one of our call centre agents help you get the best credit card for your needs.

Call us on:
0861 462 273

Email us at:
contactcard@absa.co.za