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Youth urged to stay debt free
JOBURG - Youngsters have been urged to enjoy their youth, use their natural talent productively and remain free of the fear of blacklisting by credit bureaus which could ruin their dreams in life.
This advice was given by the National Credit Regulator (NCR) as part of marking June as Youth Month by urging the youth to manage their debt, especially the use of retail credit, store cards and student loans.
NCR’s Mpho Ramapala said prospective employers checked credit reports of prospective employees prior to employing them to positions that required trust, honesty, and handling of cash and finances. “It is critical that the youth manage their finances well when they are still studying because the consequences of failing to do so are dire for their future and careers. They should stay free and pursue their dreams without fear of being blacklisted,” Ramapala said.
The NCR gave the following tips:
- Don’t take credit that you cannot afford to pay back
- Pay your monthly stipulated instalments on time
- Don’t start your career or working life paying back unnecessary debt acquired while still studying.
Details: Lebogang Selibi 011 554 2722.
