Do not overspend on panic-buying Debt Rescue CEO Neil Roets has warned consumers not to overspend on panic-buying items amid the outbreak of coronavirus in South Africa. President Cyril Ramaphosa announced a state of national disaster amid the growth in Covid-19 cases over the past two weeks. South Africa had 61 confirmed cases of coronavirus… Continued
People are buying loads of bulk household items South African consumers are panic buying loads of household items following Cyril Ramaphosa announcing that we are in the state of national disaster. Toilet paper, non-perishable food and, of course, hand sanitiser are especially in high demand. Retailers have indicated that some items are now in limited… Continued
South Africa’s middle class is drowning in debt and getting poorer and poorer “Things aren’t looking good for our country. The forecast for economic growth is still below 1% and consumers are literally borrowing more just to survive,” says Clement Manyathela South Africa’s middle class is increasingly funding their lifestyles by way of unsecured debt… Continued
Moody’s rating next month is widely expected to be a downgrade to junk. Consumers must avoid falling into a debt trap “like the plague” as the possible downgrade of South Africa’s credit rating by Moody’s next month could undermine the December petrol decrease and the recent Reserve Bank repo rate reduction, experts said. Efficient Group’s… Continued
Economist Neil Roets says that despite the decrease in fuel prices, consumers should keep saving for a potential price hike in the New Year. The slight relief in the price of fuel should not be seen as an opportunity for people to go more spend money. Find out more on this radio clip.
Cash-strapped consumers will have to fork out even more money as the price of petrol is set to rise by 18 cents a litre this week. The Department of Mineral Resources and Energy announced the price changes on Sunday, stating that the price of 95 (ULP and LRP) will rise by 18 cents a litre… Continued
Neil Roets uitvoerende hoof van Debt Rescue praat oor die nuwe Skuld wysigings wet. Die wet maak voorsiening vir skuldverligting deur byvoorbeeld skuld op te skort vir sekere tydperke of in sekere gevalle daarna skuld uit te wis. Uitwissing van skuld soos per die wet is net van toepassing waar iemand slegs ongesekureerde krediet van… Continued
Rise in Municipality Rates Millions of JHB residence will have to cough up more for the municipality rates. Unfortunately, salaries are not rising with the price increases. The municipality price increases are as follows: Water up by 9.9%, Property rates up by 5.5%, Electricity up by 13.07%, Refuse removal up by 7% Rea Vaya bus… Continued
Don’t get too excited about the Petrol Price Decrease in July Debt Rescue says while the reduction of the petrol price on Wednesday has been welcomed, the relief is going to be short lived. Although the price of both petrol and diesel dropped for the first time in six months, new electricity tariffs kicked in… Continued
The cost of living is rising but our wages aren’t. Municipal rates across the country are increasing. These new rates will affect millions of city-dwellers. Water, electricity, trash removal, property tax, and municipal bus services will be affected. Neil Roets says that consumers who are already in debt will simply not have any money left… Continued
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