Draw up a budget and stick to it

TIMES are tough for most South Africans as they tackle a weak economy and lockdown-related salary pressures but many homeowners are particularly stressed as they struggle with their bond repayments.

Although tenants find it difficult to move when they cannot afford their rent, life is even tougher for those who can no longer afford their bond repayments.

Before approaching their banks for help, homeowners should look at their monthly income and expenditure to see if they free up some money to repay their bonds.

Bongiwe Gangeni, deputy chief executive of Absa Retail and