{"id":4677,"date":"2022-10-17T08:00:14","date_gmt":"2022-10-17T06:00:14","guid":{"rendered":"http:\/\/contattoblogs.timslatter.co.za\/?p=4677"},"modified":"2022-10-17T08:00:14","modified_gmt":"2022-10-17T06:00:14","slug":"the-hidden-costs-of-credit","status":"publish","type":"post","link":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/","title":{"rendered":"The hidden costs of credit"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As 22seven recently published on medium.com, \u201cAlways think twice before you buy something on credit or take out a loan.\u201d<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Here\u2019s the thing to remember with credit &#8211; it\u2019s just a nicer way of saying that you\u2019re spending money you don\u2019t have. In other words, you\u2019re using someone else\u2019s money to fund your current lifestyle. Credit is sold to us on the premise that it\u2019s money we will have in the future, and often we do have the money in time and can pay it all back, but sometimes we don\u2019t, and we just keep borrowing more. This is when we get stuck.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">This continual servicing of debt becomes a hidden cost to our future self, and then the interest and account fees all start adding up, so we look for additional credit providers to help us. From banks to store credit, a recent US study showed that the average American debt (per U.S. adult) is $58,604 and 77% of households have at least some type of debt.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Whilst this will vary from region to region, country to country, it\u2019s safe to assume that most people in today\u2019s global economy have accepted credit to support their current living standard.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">This is not necessarily wrong or right, but it\u2019s something we have to talk about and know that we\u2019re all in the same boat together. When we stifle conversations about money, we succumb to unhealthy thoughts and feelings about our financial situations that divide us rather than connect us.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">So, before you take on any more credit, make sure you\u2019ve given some thought to the following things:<\/span><\/p>\n<ol style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Is my income enough to cover the full cost of this credit (not the items bought &#8211; credit will always cost more)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">With inflation, will I still be able to pay for this credit comfortably?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If I had the cash available, would I still spend it on this (or these)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What are the extra costs, like card and account fees, interest, insurance etc<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Credit has hidden financial costs, but it also has costs to our emotional, physical and mental wellbeing from the stress of creating too much debt. It\u2019s hard to live without debt, but it\u2019s not impossible to keep it to a manageable amount or reduce it entirely.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As 22seven recently published on medium.com, \u201cAlways think twice before you buy something on credit or take out a loan.\u201d Here\u2019s the thing to remember with credit &#8211; it\u2019s just a nicer way of saying that you\u2019re spending money you don\u2019t have. In other words, you\u2019re using someone else\u2019s money to fund your current lifestyle. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4678,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,28],"tags":[],"class_list":{"0":"post-4677","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-blog","8":"category-market","10":"post-with-thumbnail","11":"post-with-thumbnail-large"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The hidden costs of credit - ZC PRETORIUS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The hidden costs of credit - ZC PRETORIUS\" \/>\n<meta property=\"og:description\" content=\"As 22seven recently published on medium.com, \u201cAlways think twice before you buy something on credit or take out a loan.\u201d Here\u2019s the thing to remember with credit &#8211; it\u2019s just a nicer way of saying that you\u2019re spending money you don\u2019t have. In other words, you\u2019re using someone else\u2019s money to fund your current lifestyle. [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/\" \/>\n<meta property=\"og:site_name\" content=\"ZC PRETORIUS\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-17T06:00:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/zcp.co.za\/main\/wp-content\/uploads\/2022\/09\/The-hidden-costs-of-credit.jpg?fit=770%2C385&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"385\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"anthonyb@timslatter.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"anthonyb@timslatter.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/\"},\"author\":{\"name\":\"anthonyb@timslatter.com\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#\\\/schema\\\/person\\\/09632d790834c4e32a2cd47620036d5c\"},\"headline\":\"The hidden costs of credit\",\"datePublished\":\"2022-10-17T06:00:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/\"},\"wordCount\":395,\"publisher\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/The-hidden-costs-of-credit.jpg\",\"articleSection\":[\"Blog\",\"MARKET\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/\",\"url\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/\",\"name\":\"The hidden costs of credit - ZC PRETORIUS\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/The-hidden-costs-of-credit.jpg\",\"datePublished\":\"2022-10-17T06:00:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/#primaryimage\",\"url\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/The-hidden-costs-of-credit.jpg\",\"contentUrl\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/The-hidden-costs-of-credit.jpg\",\"width\":770,\"height\":385},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/the-hidden-costs-of-credit\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The hidden costs of credit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#website\",\"url\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/\",\"name\":\"ZC PRETORIUS\",\"description\":\"Authorised Financial Services Provider  FSP no.: 24709\",\"publisher\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#organization\",\"name\":\"ZC PRETORIUS\",\"url\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/wp-content\\\/uploads\\\/2017\\\/07\\\/Logo-ZCP-2017-new.png\",\"contentUrl\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/wp-content\\\/uploads\\\/2017\\\/07\\\/Logo-ZCP-2017-new.png\",\"width\":854,\"height\":530,\"caption\":\"ZC PRETORIUS\"},\"image\":{\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/#\\\/schema\\\/person\\\/09632d790834c4e32a2cd47620036d5c\",\"name\":\"anthonyb@timslatter.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/64feec57d4b1533314068fd1c7eca50dd142ab95c794eb790881bdc085bd4ae8?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/64feec57d4b1533314068fd1c7eca50dd142ab95c794eb790881bdc085bd4ae8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/64feec57d4b1533314068fd1c7eca50dd142ab95c794eb790881bdc085bd4ae8?s=96&d=mm&r=g\",\"caption\":\"anthonyb@timslatter.com\"},\"url\":\"https:\\\/\\\/zcp.co.za\\\/main\\\/author\\\/anthonybtimslatter-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The hidden costs of credit - ZC PRETORIUS","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/","og_locale":"en_US","og_type":"article","og_title":"The hidden costs of credit - ZC PRETORIUS","og_description":"As 22seven recently published on medium.com, \u201cAlways think twice before you buy something on credit or take out a loan.\u201d Here\u2019s the thing to remember with credit &#8211; it\u2019s just a nicer way of saying that you\u2019re spending money you don\u2019t have. In other words, you\u2019re using someone else\u2019s money to fund your current lifestyle. [&hellip;]","og_url":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/","og_site_name":"ZC PRETORIUS","article_published_time":"2022-10-17T06:00:14+00:00","og_image":[{"width":770,"height":385,"url":"https:\/\/i0.wp.com\/zcp.co.za\/main\/wp-content\/uploads\/2022\/09\/The-hidden-costs-of-credit.jpg?fit=770%2C385&ssl=1","type":"image\/jpeg"}],"author":"anthonyb@timslatter.com","twitter_card":"summary_large_image","twitter_misc":{"Written by":"anthonyb@timslatter.com","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/#article","isPartOf":{"@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/"},"author":{"name":"anthonyb@timslatter.com","@id":"https:\/\/zcp.co.za\/main\/#\/schema\/person\/09632d790834c4e32a2cd47620036d5c"},"headline":"The hidden costs of credit","datePublished":"2022-10-17T06:00:14+00:00","mainEntityOfPage":{"@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/"},"wordCount":395,"publisher":{"@id":"https:\/\/zcp.co.za\/main\/#organization"},"image":{"@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/#primaryimage"},"thumbnailUrl":"https:\/\/zcp.co.za\/main\/wp-content\/uploads\/2022\/09\/The-hidden-costs-of-credit.jpg","articleSection":["Blog","MARKET"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/","url":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/","name":"The hidden costs of credit - ZC PRETORIUS","isPartOf":{"@id":"https:\/\/zcp.co.za\/main\/#website"},"primaryImageOfPage":{"@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/#primaryimage"},"image":{"@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/#primaryimage"},"thumbnailUrl":"https:\/\/zcp.co.za\/main\/wp-content\/uploads\/2022\/09\/The-hidden-costs-of-credit.jpg","datePublished":"2022-10-17T06:00:14+00:00","breadcrumb":{"@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/#primaryimage","url":"https:\/\/zcp.co.za\/main\/wp-content\/uploads\/2022\/09\/The-hidden-costs-of-credit.jpg","contentUrl":"https:\/\/zcp.co.za\/main\/wp-content\/uploads\/2022\/09\/The-hidden-costs-of-credit.jpg","width":770,"height":385},{"@type":"BreadcrumbList","@id":"https:\/\/zcp.co.za\/main\/the-hidden-costs-of-credit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/zcp.co.za\/main\/"},{"@type":"ListItem","position":2,"name":"The hidden costs of credit"}]},{"@type":"WebSite","@id":"https:\/\/zcp.co.za\/main\/#website","url":"https:\/\/zcp.co.za\/main\/","name":"ZC PRETORIUS","description":"Authorised Financial Services Provider  FSP no.: 24709","publisher":{"@id":"https:\/\/zcp.co.za\/main\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/zcp.co.za\/main\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/zcp.co.za\/main\/#organization","name":"ZC PRETORIUS","url":"https:\/\/zcp.co.za\/main\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/zcp.co.za\/main\/#\/schema\/logo\/image\/","url":"https:\/\/zcp.co.za\/main\/wp-content\/uploads\/2017\/07\/Logo-ZCP-2017-new.png","contentUrl":"https:\/\/zcp.co.za\/main\/wp-content\/uploads\/2017\/07\/Logo-ZCP-2017-new.png","width":854,"height":530,"caption":"ZC PRETORIUS"},"image":{"@id":"https:\/\/zcp.co.za\/main\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/zcp.co.za\/main\/#\/schema\/person\/09632d790834c4e32a2cd47620036d5c","name":"anthonyb@timslatter.com","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/64feec57d4b1533314068fd1c7eca50dd142ab95c794eb790881bdc085bd4ae8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/64feec57d4b1533314068fd1c7eca50dd142ab95c794eb790881bdc085bd4ae8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/64feec57d4b1533314068fd1c7eca50dd142ab95c794eb790881bdc085bd4ae8?s=96&d=mm&r=g","caption":"anthonyb@timslatter.com"},"url":"https:\/\/zcp.co.za\/main\/author\/anthonybtimslatter-com\/"}]}},"_links":{"self":[{"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/posts\/4677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/comments?post=4677"}],"version-history":[{"count":0,"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/posts\/4677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/media\/4678"}],"wp:attachment":[{"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/media?parent=4677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/categories?post=4677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zcp.co.za\/main\/wp-json\/wp\/v2\/tags?post=4677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}