15 Simple Steps on How to Overcome your Financial Problems.

Published by The National Debt Review Center on May 25, 2021May 25, 2021

If you do not know exactly how you’re going to pay the bills at the end of this month keep reading this. The lack of money kills ambition and creativity and if you are struggling financially you need to read to these steps so that you can overcome your financial struggles.

Financial problems are one of the most common sources of stress today. You and millions of others are going through this right now, and we can overcome your obstacles together.

We know how you feel, and we’re here today to let you know this is your chance to only move upwards. With some changes in perspective and a few positive actions, you will take control of your finances for good!

Solving your financial problems means overcoming your current state of mind and creating a plan to move forward.

The root of your financial problems is your mindset, and that’s something we can change today! By changing how you think about money, we can create real-life habits you can use every day. Even small steps add up to big changes!

Are you ready to make a change for good? Let’s get started.

15 Simple Steps on How to Overcome your Financial Problems.

The first step is to realize your creator.

A lot of times we don’t want to admit that we need to change but as soon as we see our bank account hitting a number that we absolutely despise, what else are we going to do but think of God.

When we say realize your creator we are basically saying is that whenever you’re stuck in financial turmoil, you have to realize that there’s something greater out there asking you to make personal changes in your life. Now instead of destroying your health or taking a loved one or affecting you in any other way God is affecting your bank account so we can grasp your attention so it can force you to question yourself and actions which will lead to positive change.

What is basically asking is, do you have more faith in me than you do in money? you see a lot of people have more faith in money than they have in God, a lot of people think that their finances provide them with the security that they need in order to live their life successfully and lose sight of God in the process.

The universe will disrupt your pattern of life in order to change your way of thinking and a lot of times that happens through financial methods. Now, instead of seeing it as a punishment, you need to see it as a blessing. You need to receive Joy from this problem and start to look for a solution so that you can never be in this situation again.

Count your blessings.

Now that God got your attention you now have to realize your blessings. You have to count your blessings, you have to realize the things that you have instead of moping about the things that you don’t have. If you will account for every single blessing that you have it will multiply that’s the Law of the universe that’s the law of God.

The moment you start to count your blessings you will receive an unspeakable joy, you have this immeasurable feeling of success you, will have this level of gratitude that you never had before.

Begin giving to others.

Now that you realize what your blessings are. Give away, because there are people who are less fortunate than you. If you give yourself away, get lost in volunteering, get lost in giving and the blessings will return. Prove to the universe that you will always have more than enough and that you’re willing to pass it on, because the moment you start thinking like that, is the moment that the universe will start working in your favor and give you every blessing that you deserve.

Don’t panic.

Look my friends no one knows exactly what your financial circumstances may be except for you but the moment you begin panicking, the moment you become desperate, the moment you start worrying about the things you cannot change immediately, is a moment people will begin to realize. It is a moment where you will start to lose faith in yourself and you’ll start doing things that are not in your favor, you’ll start doing things that are not beneficial to you and those you interact with.

Review your finances.

This is an easy step to skip because the moment we look into our bank account, it’s repulsive it’s not something we want to face is something that might be hard to deal with and quite frankly we might even be embarrassed. What we are basically saying is, do whatever it takes to overcome your financial struggles.

If you have that deal with it, if you’ve been overspending deal with it, if you’ve been doing things that you know you shouldn’t be doing with money become more responsible and face your reality. Check your financial statements all the time make sure every single expenditure is helping you to live your Divine Purpose.

Deal with your debt.

You might be receiving bills in the mail or maybe you receive a periodical phone call from your creditors but if you keep on ignoring them eventually that’s going to affect your credit. And eventually, it’s going to affect the way you think and going to bother you so much that you can’t deal with it anymore.

Deal with your creditors assertively. You can make a simple phone call and lower the interest rate or maybe you can delay payment or maybe you could renegotiate terms. There’s always a way to deal with that, but you have to be strategic and you have to be brave before you take any action.

Forgive yourself.

When you forgive yourself, you have a chance to grow. Think of all the resentment and pain you carry with you about your past money habits. Maybe you’ve spent more money than you had at the time or you didn’t budget properly in the past.

You might even be repeating the same patterns with money that you saw during your childhood.

Recognize these feelings, and allow yourself to process them. If you’re feeling bold, write down all your painful memories about money.

How does money make you feel?

Why does it make you feel this way?

A lot of us carry heavy emotions about money. Whether we grew up with too little money or too much money, these feelings can burden us in adulthood.

Finally, you need to forgive yourself. Give yourself permission to feel these feelings, and then let them go.

15 Simple Steps On How To Overcome Your Financial Problems Ndrc

These feelings and memories might still strike you from time to time. Commit to no longer allowing yourself to pass judgment on them. Face your feelings, and move on. You can’t change the past, but you can change tomorrow.

You will overcome your past feelings about money to make a future for yourself.

Change the way you talk about money.

How often do you catch yourself saying things like “I’m so broke” or “Making money is too hard?” These feelings are valid, but you’re writing yourself a negative narrative. Realize you’re the author of your own story. Do you want to be the victim of some corrupt system or the hero who saves the day?

The next time you catch yourself saying you’re so broke, replace it with something positive. Take a moment to reflect on what you are thankful for and the things you do have.

Change your story in the moment. Instead, say something like “I’m thankful for my family and friends” or “I am making positive choices about money.”

Once you start replacing these negative thoughts, you’ll no longer feel trapped by your finances.

What’s holding you back?

You need to keep negative mindsets away from your daily thoughts.

One of the most common mindsets that get in the way of saving is the “treat yourself” mindset. How often do you reward yourself with a “treat” during the week? Do you get fancy coffee on the way to work or a new pair of shoes after a long week?

While it’s great to practice self-care, buying material things are only a temporary fix.

If you’re suffering from the “treat yourself” mindset, find new ways to reward yourself. Thinking of impulse purchases as “treats” is a slippery slope, but one you can recover from.

Another mindset that’s especially common today is “faking it.” How often do you feel pressure to buy things because they’ll make you appear wealthy and successful?

Again, this comes down to value. Happiness is drawn from experiences and relationships. How can you weigh success on terms that matter to you?

These 4 mindsets above are the foundation for a successful financial future. If you want to overcome your financial problems, you need to be proactive with your mindset.

It’s okay to slip up every once in a while, but make it a priority to clear your mental space. It might take some time to develop a healthy relationship with money.

You might still feel pressure to look “successful” on social media. As long as you recognize that your mindset is key to a successful financial future, you’re on the right track!

Break up with your credit cards.

In this digital age, it’s common to swipe credit and debit cards with reckless abandon. Heck, things like Apple Pay and Android Pay make it even easier to spend money without even pulling out your wallet!

This kind of passive spending is certainly easy, but it also paves the way for bad money habits. Start breaking up with your credit cards by putting them away for at least 2 weeks.

Paying with cash makes it easy to see if you’re spending too much at the moment. You might find it’s harder to part with those few rands for coffee every day when you have to hand over the cash!

Purge your expenses.

Let’s face it: we all like to have nice things. We like to watch our fancy cable channels and we like to go out for nice dinners.

These expenses might be fine every once in a while, but they can quickly become a problem if they’re a regular expense.

Build an emergency fund.

Bad things happen. While we can’t predict tomorrow’s emergencies, we can prepare for them today.

Maybe you’ll face a medical emergency or you’ll lose your job. The best thing you can do is prepare for the unpredictable with an emergency fund. An emergency fund is money that you keep separate specifically for unexpected expenses.

Without an emergency fund, you’ll likely use credit or loans to pay for unexpected problems!

This is a dead-end street to more financial trouble! Before you start paying down your debt, you need a secure emergency fund. This will act as a much-needed safety net in case you’re ever stuck with an unexpected bill or expense!

Create a budget.

Creating a budget is key to overcoming your financial problems. It might sound easy and straightforward, but a lot of people struggle to create a budget they can stick to.

The key to creating a budget is to be realistic.

Is it really possible to spend less than R500 a month on food? Maybe, depending on your situation, but hold yourself only to a budget you think is possible. Be honest with yourself about how much you need to spend every month.

You’ll probably have to give up a few luxuries like lunches out or new clothes, but it will be worth the extra effort. You’ll likely realize more important things were worth it all along!

Increase your income.

Is there anything you can do to add to your current level of revenue? If there is, then it will help you cope with your financial problems. You can consider many ways to make some cash. Cutting down your expenses can only work to a reasonable extent without an increase in what you rake in.

Apply for debt counselling.

Complete the form below and one of our expects will get in touch with you.

Application by Consumer for Debt Review (FORM 16)

In terms of section 86(1) of the National Credit Act No. 34 of 2005

Step 1 of 5

Applicant details: If you are married in community of property, both spouses must apply jointly.
Main (1st) Applicant
Title*
Initials*
Identity Number*
Full Names & Surname*
Gender*
Ethnic Group*
Marital Status*
Mobile Number*
Email Address*
Address*
Province*
Postal Code*
Owner/Tenant:*
Period at Address:*
Number of dependents
Age of dependants
Separate by commas
Next of Kin Full Names*
Next of Kin Contact Number*
Next of Kin Email Address*
2nd Applicant (SPOUSE)
Title*
Initials*
Identity Number*
Full Names & Surname*
Gender*
Ethnic Group*
Marital Status*
Mobile Number*
Email Address*
Address*
Province*
Postal Code*

Declaration*
I declare as follows
1. I undertake to comply with all requests from the debt counsellor to assist him/her to evaluate my state of indebtedness and to investigate the prospects for responsible debt restructuring. I consent to The National Debt Review Center obtaining my credit record from any/all registered credit bureaus and any other registers which may contain any of my credit information.
2. I undertake not to enter into any further credit agreements other than a consolidation agreement, with any credit provider until one of the following events have occurred: The Debt Counsellor rejects my application; or The Court determines that I am not over-indebted; or All my obligations under credit agreements as re-arranged are fulfilled.
3. I understand that I MUST NOT SIGN ANY DOCUMENTS whatsoever that I receive from any credit provider and shall make no promises, either verbally or in writing, to any of my credit providers.
4. I undertake not to hand over any of my assets to debt collectors unless I have first discussed the matter with The National Debt Review Center.
5. I confirm that the information contained in this document is to the best of my knowledge true and correct.
6. I declare that the debt review process has been explained to me and I understand that:
  - The debt remains my responsibility and that I must continue making payments to all my credit providers every month notwithstanding the fact that I have applied for debt review. Accounts from service providers and accounts in which legal action has commenced cannot form part of the debt review process and that I am personally responsible for paying them.
  - I must open a new banking account (savings) and I must arrange for my salary to be paid into the new account. I understand that if I fail to do so, the banks may deduct monies from my account and The National Debt Review Center will not be able to assist in obtaining a refund of monies taken.
  - I must provide proof of insurance on motor vehicle(s).
  - The initial repayment amount calculated by The National Debt Review Center. may not be sufficient for my credit providers and they may request a higher amount. The National Debt Review Center. may, therefore, contact me with a request for an increase in the repayment amount.
  - I understand and accept the Debt Counselling Fee Structure and understand that my first installment of the debt re-arrangement plan (or part thereof) will be payable to The National Debt Review Center. for services rendered.
  - I understand my debt review application must be finalized with a court order and I authorize The National Debt Review Center.to instruct an attorney to appear in court on my behalf and I accept full responsibility for the settlement of the legal fees as set out below.
  - I understand that if I default on any obligation in terms of the debt re-arrangement plan agreed upon with credit providers, such credit providers may terminate the debt review process and then enforce, by litigation or other judicial processes, any right or security they may have under my credit agreements. I also understand that The National Debt Review Center. may withdraw from my debt review in the event that I default on payments or fail to comply with any reasonable requests. I understand that I will then be required to pay the original installments and interest rates; reduced installments and interest rates will be canceled and credit providers can then proceed with legal action against me that may result in judgment being taken and repossession of my assets.
7. I understand that a clearance certificate will only be issued after The National Debt Review Center. is satisfied that I have fulfilled all debt obligations under debt review.
8. I understand that there is a duty on me to inform The National Debt Review Center. of any changes in my residential address, telephone numbers, employer and income.
9. I indemnify all employees and nominees of The National Debt Review Center. against any claim that may be instituted against it or them arising from any act or omission by such person appointed by The National Debt Review Center. or its nominee in the lawful execution of the terms and conditions of this agreement entered into by myself, and confirm that The National Debt Review Center. shall not be liable for any damages suffered by me resulting from any act or omission of whatsoever nature, however arising. I hereby acknowledge that all lawful actions taken by The National Debt Review Center.under its powers under this agreement are tacitly ratified by me, and I will be bound by such agreements as principal debtor.
10. I/We the Consumer(s) authorise my/our debt counsellor and it’s staff and/or agents to
  process, store and keep my/our personal information that has bearing to my/our debt review
  and whilst I/we do explicitly give my/our consent to our debt counsellor to do so, I/we
  understand and accept that my/our debt counsellor is obliged to act within the parameters
  of the Protection of Personal information Act (“POPI”).
Debt Counselling Fee Structure

All fees are regulated by the National Credit Regulator (NCR). We subscribe to the fee guidelines as prescribed by the NCR. Fees payable are as follows (all amounts and percentages quoted exclude VAT):
1. An Application Fee of R50.00 & Administration Fee of R300 per debt counselling consultation.
2. A Restructuring Fee of an amount equivalent to the first installment of the debt re-arrangement plan to a maximum amount of R8,000 (excl VAT) per single application. Should you wish to withdraw from the debt review process, there will be a cancellation fee as set out in the NCR guidelines payable by you.
3. A Restructuring Fee of an amount equivalent to the first installment of the debt re-arrangement plan to a maximum amount of R9,000 (excl VAT) per joint application. Should you wish to withdraw from the debt review process, there will be a cancellation fee as set out in the NCR fee guidelines payable by you.
4. A monthly Aftercare Fee of 5% (excl VAT) of the monthly installment of the debt re-arrangement plan up to a maximum of R450 (excl VAT) payable in every month after month 2 in which aftercare services are rendered.
5. To the Payment Distribution Agency (PDA): A monthly Payment Distribution Fee for each amount distributed in respect of each credit agreement included in the consumer’s debt re-arrangement plan.
6. To Attorneys firm: A legal fee of an amount equivalent to the first installment to a maximum of R8,000 (excl VAT) per single application and R9 000 (excl VAT) per joint application to start the process to obtain a court order forcing your credit providers to abide by the terms of the debt re-arrangement plan. The deposit is payable in the 2nd month of the application.
Signed at(Place):*
Date*
MM slash DD slash YYYY
Name of Main Applicant:*
Signature of Main Applicant:*
Name of 2nd Applicant:
Signature of 2nd Applicant:
TERMS AND CONDITIONS The Consumer agrees that the terms and conditions hereunder shall apply.
1. The terms and conditions as set out hereunder are governed by the National Credit Act and Regulations (the “NCA) and National Credit Regulator (NCR). The NCR has the authority to issue NCR Guidelines which can be amended from time to time. The Consumer indemnifies the Debt Counsellor (its directors, shareholders, employees and consultants) against any damages of whatsoever nature and howsoever arising from changes in the said NCA or NCR Guidelines from time to time.
1. This debt review application is in terms of the NCA and the Debt Counsellor is fulfilling the statuary duty as an unbiased party between the consumer and the credit providers;
1. The Debt Counsellor is entitled to suspend the debt counselling services, as per the prescribed form set out in the NCR Withdrawal Guidelines, if the Consumer fails to:3.1. Comply with the reasonable requests of the Debt Counsellor;3.2. Pay the prescribed fees in terms of the NCR Debt Counselling Fee Guidelines.
2. Upon the suspension of debt counselling services by the Debt Counsellor pursuant to the provisions of clause 3 the Consumer hereby acknowledges that he/she understands that4.1. There is a risk of credit providers terminating the debt counselling process;4.2. He/she may not incur further debt; 4.3. He/she cannot withdraw from the debt counselling process after a Form 17.2 (declaration of over-indebtedness) has been issued; 4.4. Transferring to an alternative debt counsellor is subject to the payment of all outstanding fees of the current Debt Counsellor.
3. In the event of the debt counselling services being suspended by the Debt Counsellor in terms of paragraph 3, the consumer hereby indemnifies and holds the Debt Counsellor (its directors, shareholders, employees and consultants) harmless against:5.1. Termination by credit providers; 5.2. All claims, losses, costs and expenses incurred or suffered by the Consumer arising from any claim/s instituted by any third party in relation to or in connection with the debt counselling process.
4. A consumer cannot withdraw from the Debt Counselling process after the Form 16 (application form) has been signed. The debt counsellor can only reject the application should it be found that the consumer is NOT over-indebted. Proof thereof will have to be submitted to the NCR in order to clear the debt counselling listing from the consumer’s credit profile as set out in NCR Withdrawal Guideline.
5. The debt counsellor is obligated to refer the debt re-arrangement proposal to a Magistrate’s Court or to the Tribunal for a court order subject to payment of legal fees.
6. A court order can be rescinded if the consumer is no longer over-indebted or if all debts have been settled in full and the Debt Counsellor has issued a clearance certificate. An estimate of costs will be provided to the consumer by the Debt Counsellor upon request of a rescission application.
By signing this declaration the consumer confirms that he/she understands the implications and consequences of debt review.
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15 Simple Steps on How to Overcome your Financial Problems.

15 Simple Steps on How to Overcome your Financial Problems.