Newsletter • Quarter 1 • 2026
Take control of your debt
Debt can build up quickly, especially when unexpected expenses arise. Many members rely on credit cards, store accounts or short-term loans just to get through the month.
- The challenge is that interest is charged on the money that you borrow, which makes your debt grow over time.
- The longer it takes to repay your debt, the more expensive it becomes.
- Taking control and having a plan can prevent debt from becoming overwhelming.
- Speak to a qualified financial adviser. They can give you helpful guidance.
Avoid growing your debt
Borrowing money can quickly become difficult to manage if it is not controlled.
- Store cards and credit cards often charge high interest.
- Missing a repayment adds to the total amount that you owe.
- Paying only the minimum repayments keeps you in debt for longer.
- Do not create new debt! Avoid buying with money that you do not already have.
Create a plan to reduce your debt
- Start by paying off the debt with the highest interest rate.
- Pay off the most that you can afford, even if the amounts are small. They will all add up.
- Pay a little extra whenever possible. This helps reduce the debt and the amount of interest you pay.
- Create a simple repayment plan and stick to it. This can help you gradually regain control of your finances.
Reducing debt may feel difficult at first, but steady progress makes a difference.
Each payment brings you closer to financial freedom. It frees up money that can go towards growing your retirement savings.
BREAK THE DEBT CYCLE.
Steady progress leads to lasting financial freedom.