A new survey from Debt Rescue shows that the vast majority of South Africans are under severe financial pressure. The survey aims to determine the current state of consumer finances at this time of year, which is traditionally associated with gift-giving.
It found that ninety-four percent of respondents reported experiencing severe financial pressure during the busy holiday season. This extreme strain has forced many families to cut back on or cancel their holiday celebrations entirely.
Debt Rescue’s Annaline van der Poel says that thirty-nine percent of people in the country claim they cannot afford to celebrate the festive season.