The psychology of spending

IN a perfect world, we would avoid too much debt and would never have to deal with the desperation of being unable to meet our debt obligations. But this isn’t a perfect world and, unfortunately, these distressing situations are the norm for many people.

According to the Credit Counselling and Debt Management Agency (AKPK), as at June 30, close to 126,292 people had sought AKPK’s free debt counselling services and, of that total, 45,336 had taken advantage of the agency’s Debt Management Programme (DMP).