Now that I've moved to this more serious account, I'm actually enjoying the job again. And if things continue in this vein, I may even make some commission this year!
On a different note, it seems that the recent spate of interest rate increases have hurt a lot of people. everyday you hear about hose repossessions, and the banking guys are reporting a big increase, Y.O.Y, in motor vehicle repossessions! It's sad to think that people will be losing their homes and or cars. it's a worrying situation, because the reality is we are all facing the same scenario, just for some it will take longer, and for others the access to credit makes it possible to try and ride out the crunch.
The good news, I suppose, is that last month there was no increase in the interest rate, so we have some breathing space. I know that my mortgage repayments went up by almost 30% over the past 18 months! That's a big whack in anybody's pocket!
With the rise in petrol prices, electricity (water to follow soon I'm sure), possible hike in rates and taxes on property, and the daily increase in cost of living, it's not such a nice place to be right now.
To those of you who read this, and who are affected, it's time to hang on. Cut back on the unnecessary stuff. And where possible help out your loved one's. It's going to be a bit rough for a while.
Salagatle!
3 comments:
Do you know why they opted not to increase it. They reckon the economy is so fucked up with the latest power cuts, low investor confidence that the hile would have been catostrophic. So not all is well!
Without any disrespect when you say "the good news is that they did not raise the interest rate..." I cant see any good news in SA these days: electricity issues will get worse before (if) they get better, issues with water pollution will also get worse, SA is headed for a deep recession, Zuma will create even more chaos, education in general is in the toilet so is health care and lets not forget about crime. Sorry I cant see any good news.
Glad to see things going well
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