Long answer:
When you are under debt review, your priority is very clear which is to pay off your debts and regain financial freedom. But here is a question that many clients always; “Is saving still possible while I am under debt review and paying reduced instalments?” The answer to the question is YES and in fact, saving is one of the smartest things you can do during debt review.
How Debt Review Creates Room to Save
One of the biggest benefits of being under debt review is that your debt counsellor negotiates reduced interest rates with your creditors. Instead of paying very high interest rates (as high as 20%+ per annum for unsecured loans such as revolving / personal loans, credit cards, your new structured repayment plan ensures the following:
Lower interest charges each month.
A single, reduced monthly instalment that is easier to manage.
More breathing room in your monthly budget.
The savings from interest cuts and lower monthly instalments are not just numbers on paper they can become the seed money for your emergency fund.
Practical Ways to Save During Debt Review
Start with a Micro-Savings Habit
Even R50 or R100 a month matters. If your instalment dropped thanks to lower interest rates, take a portion of that difference and put it in a savings account. Unexpected expenses (like a broken kettle or medical bill) can throw your budget off track. Having a small savings cushion prevents you from missing payments or turning to loans from unofficial channels such as family, friends or loan sharks.Automate Your Savings
Set up a debit order into a savings account similar to what you would do for your debt repayments. Even a small automated transfer makes saving consistent and effortless.Think Long-Term Rewards
Short term pain for long term gain. By the time you complete debt review (in 3 to 5 years) you will not only be debt-free, but you will also have developed the discipline of saving regularly which sets you up for financial independence. Without a clear plan to manage money differently such as paying with cash, reducing expenses, and setting healthy financial boundaries old habits tend to creep back in. Without building new money habits, the cycle of debt continues. True change comes from changing how you think about and handle money.
You can find more ways here on how to build small savings pot. You can also build the saving pot by referring friends and family to apply for debt review and receive R500 commission from Debt Sage per referral. You can start the program here refer and earn.
Conclusion
Many people believe debt review is about survival only, with reduced interest rates and structured lower monthly repayments. It is also about creating a new financial mindset. You are not just paying off debt but you are building better money habits that you will carry long after you receive your debt review clearance certificate. The bottom line is yes you can save while under debt review. Use the savings created by lower interest rates wisely. Even small amounts, consistently saved, will give you security now and confidence in your financial future.