Happy New Year 2025!

Another new year is here with us. It is a privilege to be alive and we are grateful for life and many other blessings in our lives.

 Let us take this opportunity to gather some tips to help and guide us in our borrowing transactions this year and beyond:-

1. Borrow when it is absolutely necessary. 

2. Borrow to finance assets not liabilities. 

3. Undertake the necessary due diligence

4. Consult a credit professional before borrowing.

5. Borrow from legally approved credit institutions. 

6. Do not divert borrowed funds to undesignated use. 

7. Borrow what your income can service without a strain. 

8. Weigh the benefits against the risks of the borrowing.

9. Do not borrow with the intention to default nor defraud somebody. 

10. Negotiate for the best terms and compare service providers to take the best offer. 

11. Once in debt, work hard to get off the debt as originally planned, if not sooner. 

12. Watch your credit behaviour being wary of credit referencing and credit rating.

Have a blessed and prosperous year 2025.