Work with what you’ve got.That’s what my mom always told me growing up, anyway. She’d unleash that saying whenever I would whine because I didn’t have a fancy enough bike, couldn’t afford the latest toy or outfit, or, later, when I didn’t have enough to go to my favorite college. It used to frustrate me to no end. But the woman had a point. …

The economic crisis has pushed consumers everywhere to cut back on expenditures and seek money-saving opportunities instead. For many, this has meant holding off on larger purchases, such a new car or property, or downsizing on larger yearly expenditures, such as holidays.

For countless others, however, economising has equated to watching day-to-day expenditures, such as food and clothes shopping, or home utility use. Yet something that both methods of saving have in common is that consumers have continued to use their credit cards to meet these expenses.

While

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The recession is big news worldwide and affecting every household on a global scale. In Europe and the USA, the resulting credit crunch and calling in of outstanding debt has crippled economies and driven many businesses to bankruptcy. Applying for credit is not an easy feat in these areas and a low credit score is far more detrimental to a person’s chances of credit approval than it was two years ago.

South Africa has managed to remain with its head somewhat above water thanks to a relatively stable banking structure and lower private debt, although the country is

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