The latest fuel price hike comes into effect after the four-day Easter long weekend, a time when consumers tend to spend more money on things like travel, entertainment, and general consumerism. And while consumers were expected to be locked up to tougher restrictions during that time, the president took an unexpected turn at the last… Continued
Consumers will be digging deep into their pockets for petrol and electricity as prices soar to their highest in spite of household income being impacted by the Covid-19 pandemic. The petrol price breaches the R17 mark today for the first time since late 2018, following hikes of 95 cents and R1 per litre for 93… Continued
‘WHILE Experian South Africa found that the rate of first-time consumercredit defaults improved in quarter four (Q4) of last year, consumer debthas increased to R1.81 trillion. Experians Consumer Default Index (CDI) for the last quarter showed animprovement, down from 4.68 in September 2020 to 4.07 in December2020. The index tracks the marginal default rate as… Continued
Tomorrow marks exactly a year since President Cyril Ramaphosa the Covid-Igenforced national lockdown: and since then a trail of economic devastation and jobs bloodbath continue to haunt many South Africans. When Ramaphosa announced the initial 21—day Lockdown, SA’s Covid-19 infections had spiked from 61 to 402 in a space of eight days and a drastic… Continued
Financial experts have seen an uptick in debt-related queries over the past few months as the effects of the country’s lockdown are still being felt, with the middle-class particularly hard hit. The number of people in debt who are relying on their credit to stay alive has sky-rocketed, leaving the South African economy teetering on… Continued
A recently dismissed Fin24 reader has received a payment for R70 000. Seeking expert advice on how to manage his debt, he wrote: I was 28 years old and was fired. My takeaway package is R70000. I have an unpaid student loan for R19000. I have two credit cards. One has the balance of R4000… Continued
South African households are likely to start to feeling the pinch from surging petrol and paraffin prices, marked increases in excise duties on alcoholic beverages and tobacco products, and below-inflation increases in the monetary values of social grants. Commenting on the latest FNB/BER consumer confidence index (CCI), chief economist at FNB Mamello Matikinca-Ngwenya said that… Continued
The merry-go-round of money is something every South African understands. Whether you’re a high-end earner living in Joburg’s Northern Suburbs or a middle-class South African making do on an average salary for a respectable job, money always matters. And if you’re a woman, this is especially true. Expected to take care of the children, as… Continued
South African motorists and businesses are going to be hit with petrol price increases in March – while fuel tax hikes in April, the rising cost of electricity courtesy of Eskom, and low business confidence will going to keep the pressure on the country’s already battered economy. Small and medium-sized businesses (SMEs) face a particularly… Continued
Over-indebted consumers are set to face a tough 2021. With over 2 million jobs lost in 2020, the highest number of Covid-19 cases on the continent and the after-effect of strict lockdown restrictions still affecting businesses, the future looks uncertain for many South Africans, particularly financially. According to Trading Economics, household debt in relation to… Continued
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