I'm a great believer in buying on credit - which is why my credit card tends to groan occasionally - but I am also careful, and not once have I ever over-extended myself on anything. Perhaps that's because the wife (aka Boss) and I always discuss - or at least advise each other of any major purchases before actually making them. We're also very democratic: we discuss doing what she wants, then what I want, and then we do what she wants - which explains the lack of a Harley or similar in my garage. And that brings me to the National Credit Act. Quite frankly, my wife is far more effective than any Act and while I accept the intent of the NCA is fine, people need to take responsibility for their own actions: buy wisely, or suffer the consequences. Quite apart from anything, the impact on some businesses has been dire... I heard this morning that two black-owned property companies reported downturns in their business of 40 and 50% respectively, and the latter is planning to close an office, putting people out of work. The same downturn has happened to some extent in the retail motor industry, with some taking strain. The problem with politicians is that apart from making lots of promises and flying here and there on chartered aircraft, they seem to have this quaint idea that they have the ace up their sleeve when it comes to what's good for us. That I don't mind, apart from the fact they also seem to think that God himself put the ace there. Bottom line... less government is better government. In passing, I also chatted to a local furniture retailer, who also confirmed a bit of a late winter chill in their sector - and went on to mention that one of his staff, because he couldn't get 'normal' credit, went to a loan shark. He borrowed R600 last month. This month he owes R800. Surely the Act wasn't supposed to have that result. But it has.


Rod Baker, Content Manager: Send your news to: retailnews@bizcommunity.com; or visit https://www.bizcommunity.com.