Ask an expert
Question

01 Aug 2008

Seeking help
Need Advice

I have just bought a house and it cost R266 000.00. I am moving in December 2008, surely the deduction will start month end of December. My bond will be R3200.00 per month for 20 years. I lend R10 000.00 from the savings club, which accumulate interest so I cant afford to pay that before December.

I saw this advert on the newspaper to consolidate your debts, I was thinking of borrowing R350 000.00 with this I am intending to spend it like this: I want to pay my house R266 000.00 cash, pay the social club money R10.000.00 with interest cash, The remaining money I will use it to buy curtains, sofas etc. For this loan that I want to take I will be paying R2600 per month for 20 years but interest rate will affect it. I need your advice will I be making the big mistake of my life. Or will this help to survive becaouse I am earning R7000.00 after didaction.

Thank you for your advices
Answer 346 views
Expert
CyberShrink
cybershrink

01 Jan 0001

I haven't the faintest idea ! What made you think a psychiatrist was the right guy to ask about this financial issue ?
The information provided does not constitute a diagnosis of your condition. You should consult a medical practitioner or other appropriate health care professional for a physical examination, diagnosis and formal advice. Health24 and the expert accept no responsibility or liability for any damage or personal harm you may suffer resulting from making use of this content.
Voting Booth
Have you entered our Health of the Nation survey?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes
32% - 9476 votes
No
68% - 20321 votes
Vote