Living DEBT Free Ncrdc384 - Kevin Russell

01/09/2026

25/08/2026

🎈 BALLOON PAYMENT VS NO BALLOON | EPISODE 6

Which one looks better?
WITHOUT A BALLOON

➡️ Higher monthly payment
➡️ No large balloon amount waiting at the end

WITH A BALLOON
➡️ Lower monthly payment
➡️ A larger amount may still be owing at the end

And this is where many people make the mistake of looking at only the monthly payment.

A lower instalment can make a finance agreement look more affordable today.

But ask the bigger questions:
💰 How much will I owe at the end?
🎈 What is the balloon payment?
📊 How much will the agreement cost me altogether?
🧠 Can I afford the balloon when it becomes due?

A balloon payment isn't automatically a bad thing.

The important thing is to understand what you're signing up for.

🎈 A smaller instalment doesn't make the balloon disappear.

Know the payment. Know the balloon. Know your debt.

Watch Episode 6 and learn why looking beyond the monthly payment matters.

KNOW YOUR DEBT. KNOW YOUR POWER.

Living Debt Free with Kevin Russell
NCRDC384
📞 082 900 4129 Kevin | 📧[email protected]
📧 [email protected]
🌐 www.livingdebtfree.co.za

24/08/2026

🎈 THE BALLOON IS DUE… NOW WHAT?

You’ve made your monthly payments.
Then the finance agreement reaches the end.
But there’s still a balloon payment waiting.

So, what can you do?

Depending on your circumstances, you may need to consider options such as:
💰 Paying it from available funds
🏦 Refinancing — if approved
🚗 Selling or trading the vehicle, depending on the circumstances and settlement value
📞 Discussing your position with your finance provider
⚠️ There is no one-size-fits-all answer, and these outcomes are not guaranteed.

The important thing is not to wait until the last minute.
Know how much the balloon is.
Know when it is due.
Know what your options may be.
Because a smaller monthly instalment doesn't make the balloon disappear.

🎈 Know the payment. Know the balloon. Know your debt.
KNOW YOUR DEBT. KNOW YOUR POWER.

Living Debt Free with Kevin Russell
NCRDC384

📞 082 900 4129 Kevin | 📧 [email protected]
📧 [email protected]
🌐 www.livingdebtfree.co.za

24/08/2026

With South Africa's unemployment rate rising, the National Gambling Board warns citizens against viewing gambling as a financial solution. A young man's story of addiction highlights the dangers of gambling during economic hardship.

24/08/2026

Can you afford the balloon?

Thabo pays R5,000 a month — that's affordable.

But the agreement ends with R120,000 due at once — on the 15th.

Monthly affordable does NOT automatically mean balloon affordable.

In Episode 4, Thabo does a simple test:

Monthly: R5,000 ✅

Balloon: R120,000 ⚠️

Saving plan: R1,500 x 72 months = R108,000

What are your options when the balloon is due?

Pay from available funds

Refinance if approved by lender

Sell or trade the vehicle

Discuss with your finance provider early

The payments stop but the balloon remains.

Check before the end. Know your numbers.

🔗 www.livingdebtfree.co.za

📞 082 900 4129 | Kevin Russell NCRDC384 | [email protected]





Disclaimer: Illustrative example with Thabo. Actual affordability depends on individual income, expenses and credit provider terms. Educational content only, not individual financial advice.

24/08/2026

Paying by card? You may be charged an illegal ‘swipe fee’ without knowing it: https://buff.ly/s7KSD8b

(Consumer journalist Wendy Knowler says shops cannot simply charge customers extra for paying by card. Here's what consumers can do when faced with a ‘swipe fee’ or minimum card payment.)

21/08/2026

21/08/2026

Quote of the day:

Debt gives you the ability to look like you’re winning when you’re not.

- Dave Ramsey