CHARGE! NowCharge down your debt as fast as you can.

Why the Secret of the Rhino

Debt itself is not a bad thing if you can borrow carefully as part of a bigger plan. But many people tend to get into debt without thinking about its dangers and pitfalls. Very quickly we are overwhelmed by our debt and end up in a cycle of buying on credit and using most of our salaries just to repay interest and debt. But how do we solve this? It's in the Secret of the Rhino.
What's in it for you?

The Secret of the Rhino teaches you to face your debt head-on. It tells you to charge down your biggest threat to financial stability – debt. Learn from the rhino – charge down your debt as fast as you can! If you feel overwhelmed because you have a lot of debt, charge down the biggest threat first – usually the one with the highest interest.

The Secret of the Rhino
Get out of debt - step by step

STEP 1: Face the problem: Know how much you owe.

STEP 2: Share your problem: Who can support you while you charge down your debt?

STEP 3: Adjust your budget: Revise your budget, so you reduce your spending on just a few items each month.

STEP 4: Create strategies to deal with your debt: You have to work out which debt poses the biggest threat.

STEP 5: No new debt: While you are charging down your debt, learn how to stop yourself from incurring any new debts.

The Secret of the Rhino
What can we learn from the Rhino?Here's what we learn from the Rhino about debt.
Want to know more?

We answer some frequently asked questions.

    If debt repayments are taking up more than 40% of your income and you cannot obtain debt consolidation, you might need to consider starting a debt review process under the National Credit Act of 2005.

    Taking up a new loan and using this money to repay all your creditors if your ratio is over 35%. When deciding, you need to consider the interest charged. Is it, on average, lower than the interest you are paying on your current loans?

    If you rent a house, you have to pay rent for using the house. Interest is the same. If you borrow money, you need to pay for the use of the money. This amount is called interest. Interest is always given as a percentage. Similarly, if you have savings at a bank, the bank pays you interest for the use of your money.

    For example: 20% interest per annum (per year) means that if you borrowed E100 for one year, you would have to pay interest of E20 at the end of the year, as well as the E100 that you borrowed. If you repaid the loan after 6 months, your interest would be E10 as you only had the loan for half the year. The longer you take to pay, the more interest you will pay

    • 0 - 30% This indicates you are mostly responsible about money. Debt is under control and you plan for the future.
    • 30 - 36% Heading towards danger 36% is the ‘magic number’ in this ratio – go further than this and there could be in trouble
    • 37 - 50% Danger Potential to be out of control. Reduce debt fast and do not take on new debt.
    • + 50% Requires Immediate Action Debt is out of control and causing serious financial difficulty.