South Africans: stop trying to ‘Keep up with Joneses’
Experts have raised concern about consumer credit spending in South Africa. JOHANNESBURG – A debt recovery agency has raised concerns about consumer spending habits, following research by Absa’s card analytics team that suggests South Africans are borrowing more money instead of cutting back on luxury items. While the country’s tough economic climate has become overwhelmingly […]
SA households saddled with crushing debt
JOHANNESBURG (Reuters) – Rate increases by South Africa’s central bank have left at least 10 million people crippled by debt in a country where many people buy on credit. The result may be a further slowdown in South Africa’s slumping economy, which is now expected to grow just 0.9 percent in 2016. That would only […]
Higher interest rates causing crushing debt
Rate increases by South Africa’s central bank have left at least 10 million people crippled by debt in a country where many people buy on credit. The result may be a further slowdown in South Africa’s slumping economy, which is now expected to grow just 0.9% in 2016. That would only aggravate the problem for […]
Money Matters: How to manage a good credit record
According to a Debt Rescue study, only about 23% of South Africans have money left at the end of the month before their next payday. The study finds that 86% of South Africans borrowed money in the year 2014. It also finds that South Africans between the ages of 31 and 45 collectively owe 53% […]
Verbruikers Kan Nie Die Brandstofheffing Bekostig Nie
Die uitvoerende hoof van Debt Rescue, Neil Roets, sê verbruikers kan nie die brandstofheffing te midde van groeiende skuldvlakke en skerp stygende lewenskoste bekostig nie, en die regering behoort meer te doen om mense te help. Hy sê hoewel die petrolheffing ‘n betekenisvolle vorm van inkomste vir die staat is, is dit saam met die […]
Here’s why the petrol price is about to spike
Motorists lined up at petrol stations in South Africa on Tuesday evening to fill up their tanks before increased fuel prices kicked in at midnight. On Friday the Department of Energy announced petrol hikes of 52 cents per litre for petrol of all grades and 78 cents per litre for diesel. The Automobile Association (AA) […]
Consumers can’t afford fuel levy
Cape Town – Consumers can’t afford the petrol levy amid growing levels of debt and soaring costs of living, according to Debt Rescue CEO Neil Roets. In a studio interview with News24 Live, Roets said that although the petrol levy is a meaningful form for revenue collection for the state, consumers can’t afford it with […]
Higher rates leave households saddled with crushing debt
Nearly 10 million people in debt arrears. JOHANNESBURG – Rate increases by South Africa’s central bank have left at least 10 million people crippled by debt in a country where many people buy on credit. The result may be a further slowdown in South Africa’s slumping economy, which is now expected to grow just 0.9% […]
Tough times about to get even tougher
The ongoing drought is negatively affecting food production and most consumers are feeling the effect of food price increases in their pockets. In July, the annual rise in electricity and municipal rates and taxes will also take effect. The higher fuel price, that increased by 86c/l (for 93 octane petrol) in April and another 12c/l […]