Between April and June last year, 1.6 million South Africans applied for mortgage payment holidays from their banks. While this provided some form of temporary relief, it is now costing them, on average, an additional R12 900 a month due to having to pay up on interest accrued, pushing many South Africans further into financial… Continued
As if there were not enough headaches to contend with already – think the revised adjusted lockdown level 4, extraordinary icy conditions, intermittent load-shedding, rising CPI and renewed job losses in the hospitality, alcohol and restaurant industries – South Africans will need to brace themselves for more bad news. This as utility and fuel prices… Continued
A YEAR on from the first hard lockdown, the TransUnion Consumer Pulse survey for the first quarter of 2021 offers some promising insights for South Africans: 76% of the respondents said they were optimistic about the future, and more than half felt confident their household finances would recover within the next 12 months. However, the… Continued
After months of steep fuel price increases, consumers can finally let out a small sigh of relief: the cost of petrol, diesel and paraffin has decreased at the pumps. As of Wednesday 5th May, motorists will pay 9 cents less for a litre of 95 and 93; 31 cents less for diesel 0.05% and 30… Continued
While the decrease in fuel prices will bring some welcome relief for motorists, cash strapped South Africans should budget carefully to cover the costs of owning a vehicle. Debt Rescue’s chief executive Neil Roets said after a bond or rent, a car is likely to be a consumer’s biggest cost. Roets was commenting after an… 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
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
The second wave of Covid-19 is likely to undermine the inroads South African consumers have made into reducing their debt. This positive trend was bolstered by the broad uptake of DebiCheck, the secure debit-order payment system introduced by the Payments Association of South Africa in November 2019, which ensures consumers can’t wriggle out of their… Continued
Cape Town – South Africa’s already cash-strapped consumers will have to dig deeper into their pockets as petrol, diesel and illuminating paraffin are set to increase in price and experts have warned that the hikes foreshadow further shocks to the economy in the months to come. On Monday, Mineral Resources and Energy Minister Gwede Mantashe… Continued
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