by Ronel Jooste CA(SA), Financial Consultant, Speaker and Author of ‘Financially Fit and Wealthy’
Covid-19 certainly calls for extreme measures. The financial impact on individuals and businesses is extreme. The impact on the economy is extreme. Individuals and businesses are desperately looking for solutions to carry them through the lockdown period as well as the recovery phase thereafter. Most banks and other credit providers have offered payment holidays. Payment holidays are a welcome relief and definitely one solution to consider. It is however important to fully understand what a payment holiday entails and what the impact is over the longer-term.
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