COMPLIMENTS FOR THE NEW YEAR

Welcome to year 2009.

The price of fuel went down by 18%, this surely will bring much needed relief to your budget in one way or another.

This article list some of the things you must do with the extra cash resulting from fuel price cuts:

1. Pay short-term high interests debts with it, fuel price cut may be a temporary thing, so using it to eliminate short-term debt will lead to instant results.
2. Catch up on your missed payments, a series of interest rates increases has resulted in many consumers struggling and failing to meet their obligations, missed payments is the order of the day, so using that extra cash to catch up on your missed payments can be a good thing, you save money in interest and avoid disrespectful calls from debt collectors.
3. Pay extra to your bond account, if however your situation is still in good standing, it may be a better option to pay extra into your bond account and save money in the long-term, you pay less interest and the bond term is greatly reduced.
4. Save it for the rainy day, savings rate growth in South Africa plummeted to a negative figure due to stressful economic conditions, banks are also offering a good rate when you save to encourage people to save.

What would you like to do with the extra cash which resulted from fuel price cuts?