Debt consolidation: Benefit or disadvantages?

As Botswana’s personal debt crisis grows around us, more and more of us are looking for education on how to manage our debts, and how to get some relief from the financial pressure and stress caused by our debts.

It would be wonderful if there was a quick fix, a simple and cheap method we could buy that would, in the blink of an eye, resolve the problem. Is debt consolidation that solution? Most of us also know that getting into severe debt didn’t happen overnight. We got ourselves deeper and deeper into trouble over an extended period. Knowing this, we cannot expect “The Solution” to be a quick one. If someone tells you about (or tries to sell you) a “quick and easy” solution, be suspicious. You must ask questions and look at the T&C’s carefully. Beware of schemes that are very costly – if you can’t afford it in the long term, it’s not a solution at all.


Editor's Comment
Happy Independence Day!

Independence Day holds immense significance for Batswana as a whole. It offers a moment for reflection and celebration of the country's achievements, while also prompting introspection.We must honestly assess whether the number of years of independence aligns with the progress we have made. While there is certainly much to celebrate, there are also pressing issues that require the attention of relevant stakeholders. Many Batswana are facing...

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