Congratulations sis 🎉just paid off my personal Loan R60000 with capitec , I’m now completely debt free😭😭 I feel like a weight has been lifted off. It first started with a credit card but I quickly realised that if the money is still available I still end up using it. So I converted it to a loan the interest rate was 24.6% 🤭 these banks are robbing us. But I managed to pay off the loan in 5 months I downgraded my life intensely in order to do this and moved back home. Being debt free is the way to go.
Ohhj wow 🤩😍 that is a huuge achievement you should really be proud of yourself, on top of that you are now debt free. A job well done 👏🏾 so happy for you. Banks are indeed robbing us on a daily, wishing you only the best. Enjoy your financial freedom 😍👏🏾
Capitec personal loan interest rates are crazy. I closed mine last year November. My rate was 27.35% for 275k which was going to take me almost 53 months but I paid it in 24 months or less. I was sick and tired of being sick and tired.
I am also having a loan with capitec at that same rate of 24.6% its realy crazy that interest is way too high, but I am also coming up with plans to pay it off quicker Its good when we talk about these things guys
I also have a credit card that has been revoked, and it's on arrears closer to R60 000 now, I really can't wait to finish it and be debt free. Debts can really be stressful, when you get paid, the next day you already have nothing 😭😭😭
I am closing mine this week... R28k... I will be closing my eyes when I make the transfer struuu...I dont want to see that money going off my account...
You know what, that the fact for many of us, seeing so much money leave your account is literally painful 😖 but so worth it. Congratulations 🥳 this is a big deal.
The downside about a credit card is the interest rate because it is debt not attached to an asset. You can make the limit to be an amount that you know you will manage.
so glad i came across this in time (before blowing the geeld😂) , got approved for a R15K credit card yesterday and i will surely be on the lookout for how i spend it, and on what. been looking to buy a young Toyota Tazz though, is it possible??
☺️😂 that’s great, what you are saying is what many of us struggle with. We get into debt and then figure out how to use it. I also would not suggest that you use a credit card to buy a car as it has high interest rate. Always look at your affordability first.
I COULDNT WAIT TO FINISH THE VIDEO I JUST PICK UP THE PHONE AND ASK THEM TO DECRESE MY LIMIT. MINIUM PAYMENT ISNT BAD 3% IS NOTHING. YOH LAST 2 MONTHS I WAS DOING ONLINE SHOPPING USING MY CREDIT CARD. NO PROGRESS😩😩😩BETTER DECREASE MY LIMIT IMMEDIATLY AFTER PAYING MY CREDIT CARD.
I'm thinking of getting a credit card because I want to build my credit score 😬, I want to test the spending devil in me 😂😂😂... Hopefully this video will make me regret my decision😅
@@JennNxumalo definitely, my problem is that, the ones I have seen don't have a lot of rewards... Or the rewards aren't as good as I would want them to be
Hi Jennifer ☺️, thank you for this video. I've been trying to pay off my debt since last year and close of my credit card but it's extremely hard and I didn't know about this method.... But not much was said about the personal loan that you took out?
Hi! Felicia the reason I did not say much about the personal loan it’s because I did a separate video last year here is the link How I paid of my debt quickly | Paid R100000 in less than 3 years on low income | Personal Loan ruclips.net/video/04Fp74H8JC4/видео.html
Any extra money I was getting I put some of it towards saving to pay off my credit card. Also after I paid off my personal loan it freed up R4000 per month which now I could channel to my other debts. It was definitely not a quick process but with time and consistency it was possible.
Honestly it takes time, give yourself a goal and be specific on when you want to finish it. 3years is a good time to tackle a 3yr debt. When you set a time frame you become more motivated to pay it off and to put extra even when you get extra income you will be more inclined to put it towards your debt. You can do it.
You will, just develop a plan of how you will start and analyse what impact paying each one will make on your finances, that will help to keep you going.
I believe if you can pay of the amount you borrowed within the 55 days they don't charge interest but if day 56 comes and you still have amount owing the interested starts kicking in monthly
Congratulations sis 🎉just paid off my personal Loan R60000 with capitec , I’m now completely debt free😭😭 I feel like a weight has been lifted off. It first started with a credit card but I quickly realised that if the money is still available I still end up using it. So I converted it to a loan the interest rate was 24.6% 🤭 these banks are robbing us. But I managed to pay off the loan in 5 months I downgraded my life intensely in order to do this and moved back home. Being debt free is the way to go.
Ohhj wow 🤩😍 that is a huuge achievement you should really be proud of yourself, on top of that you are now debt free. A job well done 👏🏾 so happy for you. Banks are indeed robbing us on a daily, wishing you only the best. Enjoy your financial freedom 😍👏🏾
Capitec personal loan interest rates are crazy. I closed mine last year November. My rate was 27.35% for 275k which was going to take me almost 53 months but I paid it in 24 months or less. I was sick and tired of being sick and tired.
I am also having a loan with capitec at that same rate of 24.6% its realy crazy that interest is way too high, but I am also coming up with plans to pay it off quicker
Its good when we talk about these things guys
"Decrease from R35 000 to R2000". Did I not die🤣🤣🤣
A focused queen!
😂🤣😂 wehhh Capitec will trap you, cabanga oe seeing R35000 on my bank app for 8 -14 days temptation is real.
M watching this video for the second time , I like how your vlogs are so practicals . Congratulations Jen ❤
Ohhh wow 🤩 I love that 🥰❤️. Thank you so much.
I also have a credit card that has been revoked, and it's on arrears closer to R60 000 now, I really can't wait to finish it and be debt free. Debts can really be stressful, when you get paid, the next day you already have nothing 😭😭😭
You will, one month at a time and you will achieve your goal. Be patient with yourself 🤗.
I love love this …lord give strength to have even an ounce of discipline when it comes to money.
Thank you, you will have it. What helped me is watching a lot of financial content, it motivated me.
I love you said about revolving loans and credit cards. You are right, you have to know yourself. Very good advise.
Thank you, we do many of the financial mistakes because we ignore our personalities.
Well done honey, can’t wait to finish my debts🥺
Thank you so much, wishing you the best in your journey 😊
Very informative 👏
I love how honest you've been
Thank you, I appreciate it so much 😍
Im in the process of paying All my debt amounting to 140k its been a nightmare ,i had to downgrade in every expect , draining , i settled two so far
You go girl
You are doing well, keep pushing eventually you will get past it. I like that you have downgraded in order to push.
I was right up there as well. I'm now 150k without interest but I will be done paying next year. Staying focused
Jip it's hard to be dept free it take years or decades to be dept free depending on your circumstances well done
True it depends on one’s circumstances but it possible to do it, I am still on my journey no matter how long it takes me I will get there or close.
The interest are insane I am glad you managed to close it
Yohhh, mine was not moving because of the interest rate.
Thanks Jennifer for a great video and the sound advice, you are very inspiring!
Thank you so much, I appreciate it 🙏🏾😍
i though i was the only one paying high interest rate of 20.8% , now see there's people paying over24%
Eyi its tough i have a loan with an interest of29.25% 😣
Yohhhh that is so high 😮💨
The interest in these things is high.
Congrats on your property :)
Massive Step!! Love this for you 🥳🥳🥳
Thank you 🙏🏾💐❤️
I am closing mine this week... R28k... I will be closing my eyes when I make the transfer struuu...I dont want to see that money going off my account...
You know what, that the fact for many of us, seeing so much money leave your account is literally painful 😖 but so worth it. Congratulations 🥳 this is a big deal.
@@JennNxumalo thank you ausi
inspirational indeed , its a good feeling to be debt free
🤣🤣🤣😅 That interest 😲😲.... Also, you look like you're more disciplined than I am 😅...
The downside about a credit card is the interest rate because it is debt not attached to an asset. You can make the limit to be an amount that you know you will manage.
I'll give this a try maybe a young 5k to shake the nerves off 😅
I know that's feeling of settling your credit 🙂
The sense of accomplishment you feel 🤩😊
This is me I want to pay off this credit card😩😩😩its soooo hard...but this year I wanna pay it and close it.
I totally understand, its was hard for me as well. A credit gives off so much temptation which is why its hard to pay it off.
congrats my sister i can imagine the feeling
I had so much relief 😮💨
Enormous debt is the true slavey. Cheers!
It is indeed 💯
U r stating the reality my sister.. Tnx
Thank you 🙏🏾
so glad i came across this in time (before blowing the geeld😂) , got approved for a R15K credit card yesterday and i will surely be on the lookout for how i spend it, and on what. been looking to buy a young Toyota Tazz though, is it possible??
☺️😂 that’s great, what you are saying is what many of us struggle with. We get into debt and then figure out how to use it. I also would not suggest that you use a credit card to buy a car as it has high interest rate. Always look at your affordability first.
Hey Jenn. After paying off your credit card, did you close it the credit? Does closing off the credit decrease the credit record?
Thank u, your content is very informative 👌🏽
I COULDNT WAIT TO FINISH THE VIDEO I JUST PICK UP THE PHONE AND ASK THEM TO DECRESE MY LIMIT. MINIUM PAYMENT ISNT BAD 3% IS NOTHING. YOH LAST 2 MONTHS I WAS DOING ONLINE SHOPPING USING MY CREDIT CARD. NO PROGRESS😩😩😩BETTER DECREASE MY LIMIT IMMEDIATLY AFTER PAYING MY CREDIT CARD.
The credit card limit is way better cs the temptation is honestly too real.
I'm thinking of getting a credit card because I want to build my credit score 😬, I want to test the spending devil in me 😂😂😂... Hopefully this video will make me regret my decision😅
😂😂😂😂 I am dead ☠️, there is nothing wrong with a credit card however you have to be on top of your money game to win with them.
@@JennNxumalo definitely, my problem is that, the ones I have seen don't have a lot of rewards... Or the rewards aren't as good as I would want them to be
Hi Jennifer ☺️, thank you for this video. I've been trying to pay off my debt since last year and close of my credit card but it's extremely hard and I didn't know about this method.... But not much was said about the personal loan that you took out?
Hi! Felicia the reason I did not say much about the personal loan it’s because I did a separate video last year here is the link
How I paid of my debt quickly | Paid R100000 in less than 3 years on low income | Personal Loan
ruclips.net/video/04Fp74H8JC4/видео.html
@@JennNxumalo will watch soon thank you 🌟
Where did you get the money to pay it off with a low income, sisi? Plz advice
Any extra money I was getting I put some of it towards saving to pay off my credit card. Also after I paid off my personal loan it freed up R4000 per month which now I could channel to my other debts. It was definitely not a quick process but with time and consistency it was possible.
I DECREASED MY CREDIT CARD LIMITS RIGHT AWAY🤣🤣
I love it 🤣
I have like minus 80k with std bank.... Closed one for capitec... But am struggling to work on closing this 80k one yho😏
Honestly it takes time, give yourself a goal and be specific on when you want to finish it. 3years is a good time to tackle a 3yr debt. When you set a time frame you become more motivated to pay it off and to put extra even when you get extra income you will be more inclined to put it towards your debt. You can do it.
I want to get out of my 24k debt I want to aggressively pay it of and close my credit card
You will, just develop a plan of how you will start and analyse what impact paying each one will make on your finances, that will help to keep you going.
I will downgrade my life for 6 months cause this debt is weighing on me I can't even save
Well done
Thank you 🙏🏾❤️
Iam standing at 99000 interest rate 21%
Keep going and don’t give up 🥰💐
❤❤
🥰💐❤️
Well done yeah credit isn't worth it.
Thank you 🙏🏾 definitely not worth it.
Can someone please explain how the "55 days credit free" work
I believe if you can pay of the amount you borrowed within the 55 days they don't charge interest but if day 56 comes and you still have amount owing the interested starts kicking in monthly
Did you get rid of all credit cards? 🤔
Yes I did, I don’t own a credit card anymore.
@@JennNxumalo so great, congrats!!! 👏
Thank you for this 🫶🏽
Thank you for the love ❤️