Durban – South Africans, buckling under the strain of rising fuel costs and increases linked to the one per cent VAT hike are turning to store cards which could lead to even more household debt. This is according to Neil Roets, CEO of debt counselling firm, Debt Rescue who said the number of store cards… Continued
Debt laden consumers owe R1.73 trillion ALTHOUGH the drop in fuel prices from today will bring some relief to deeply indebted consumers, it will be short-lived, as the value-added tax (VAT) rate is set to see a price hike next month. The Department of Energy announced last week that as from today the price of… Continued
Increase in cryptocurrency investors applying for counselling THE LATEST investment craze is driving thousands to consult debt counselors as they have found themselves in debt in attempts to find riches. Cryptocurrencies like Bitcoin have seen a rapidly growing number of deeply indebted consumers getting themselves into financial trouble. Financial expert and Debt Rescue chief executive,… Continued
Durban – The destiny of a South African or perhaps a few people could change tonight when the Lotto draw for the biggest jackpot since 2015 takes place. January is traditionally a bleak financial period for many people after December’s Christmas spending spree and the purchase of school clothes and fees for the new academic… Continued
MORE than 10 million people in Mzansi struggle with debt, more so our women. Debt Rescue’s internal statistics show that more than 51% of indebted people are women and most of the debt was caused by personal loans (94%), credit cards (84%) and store cards (76%). In the spirit of Women’s Month, SunMoney wants to share advice… Continued
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 (8 800). However, these are also the provinces with the biggest populations.… Continued
FROM midnight, consumers will pay more for fuel and should brace themselves for further increases including meat prices by the end of the year, say experts. The price of petrol will increase by 44 cents a litre and diesel by 22 cents. Gwarega Mangozhe, chief executive at the Consumer Goods Council of SA, said the… Continued
THE fuel price is expected to increase by 83 cents a litre for petrol and 95 cents for diesel in April. The Automobile Association (AA) made the prediction yesterday, citing the rising oil price and an increase in the fuel levy of 30 cents. “Although the rand/US dollar exchange rate has firmed in the rand’s… Continued
Council sticks to Eskom increase The eThekwini Municipality has assured consumers it will limit the electricity tariff hike to the 9.4% increase granted to Eskom. City Treasurer, Krish Kumar has confirmed that, unlike other municipalities, eThekwini would not add further increases to the hike approved by the National Energy Regulator of South Africa (Nersa). “We… Continued
“Biggest borrowers in world” ECONOMISTS have urged South Africans to tighten their belts land brace themselves for a rocky year ahead with higher food and fuel prices set to hit pockets hard as the rand continues to wobble. And, rubbing salt in the wound, South Africans have also been warned to ready themselves for an… Continued
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