insert_link Business / Economics Bank Windhoek Warns Against Poor Financial Planning Bank Windhoek's Credit Executive Officer, Eddie King, identifies poor financial planning, unexpected expenses, economic downturns, and over-reliance on credit as major causes of financial default. He stresses the importance of budgeting, emergency funds, and strong financial planning to navigate economic challenges and avoid high-interest debt traps. King urges individuals and businesses to stay informed about economic trends to make better financial decisions. today5 February, 2025
insert_link Opinion Pieces Understanding Financial Default By Bank Windhoek’s Credit Executive Officer, Eddie King. Financial default occurs when an individual or small business fails to meet the agreed-upon payments on a debt, meaning they fail to service their instalments on the approved loan or facility, such as a home loan, personal loan, overdraft facility, or credit card. Defaulting on payments can have significant consequences, affecting one's credit rating (credibility with a financial institution) and access to future credit. Firstly, default typically starts when payments […] today21 November, 2024
