Men are ‘Keeping up with the Joneses’ more than women – Debt analysis
CAPE TOWN- Men are still outstripping women by almost four percentage points in creating debt that they are unable to repay.
According to a survey compiled by one of the largest debt counselling companies in South Africa, it was found that of all …Read More
SA is drowning in debt
South Africans are drowning in debt despite a slight drop in the number of people being summoned to court for owing money.
According to Statistics South Africa, in June this year, Gauteng had the highest number of cases (17 603) followed by KwaZulu-Natal …Read More
For every R100 you earn – R72 is going to debt: survey
A new survey conducted by insurer 1Life shows that South Africans are struggling financially, with high levels of debt putting pressure on households and leaving little room for monthly expenses.
The group conducted the survey in July, testing consumers’ understanding of saving and financial responsibility.
Addressing …Read More
How much money South Africans save each month based on their earnings
A report from Old Mutual shows how much money South African households are managing to put away each month under a very stretched economy.
Overall consumer debt is growing, and the fact that ratings agency S&P flagged it as a major risk to …Read More
Employers should encourage financial literacy
South Africa has one of the worst savings rates in the world, according to statistics released by the South African Reserve Bank, which found that the country’s savings rate is only 15,4% of GDP – far below the desired rate of 25%.
As …Read More
Consumer debt poses major risk factor for banks
Overall consumer debt is growing and the fact that ratings agency S&P flagged it as a major risk to the country’s banking sector should act as a wakeup call for consumers and banks.
Neil Roets, CEO of Debt Rescue, said there had been …Read More
Economists predict big fuel price drop in July
Durban – Economists have predicted a large drop in fuel prices by July as the international oil price remains depressed.
Independent economist Dawie Roodt said on Monday he expected the petrol price to decline by between 60 and 64 cents a litre, while …Read More
Top business news: Recession, electricity hikes and credit cleansing
Fears of a full-scale recession, electricity hikes and debt forgiveness plans are some of the hot business news stories on Fin24.
Gross domestic product contracted 0.7% for the first quarter of 2017, indicating that the country has entered into a technical recession, according …Read More
Rocky road ahead as economy slips into recession
Stats SA has revealed that the country’s economy contracted by 0,7% in the first quarter of the year
It represents the second conservative contraction quarter-on-quarter and places the South African economy in a technical recession.
It follows a GDP decline of 0,3% in the …Read More
Consumers in for bumpy ride as SA slides into recession
South Africa’s economy contracted by 0,7% during the first quarter of the year, Stats SA revealed on Tuesday
It represents the second conservative contraction quarter-on-quarter and places the South African economy in a technical recession.
It follows a GDP decline of 0,3% in the …Read More
