Consumers urged to avoid festive season debt

This follows a report released by Trans Union this week which shows that millions of South Africans are increasingly struggling with debt.
Debt Rescue’s Aneline van der Poel says over half of the current credit active population are considered to be in arrears with their accounts or over-indebted.
de Poel says this is higher in metropolitan areas such as Durban as the cost of living is higher than in non-metros.
de Poel advises that even in December, a budget will especially assist.
“First things first you need to budget. You have to start by looking at what you earn, what you need to live a month reasonably and then what you have left till pay day.
In other words if you are already sitting in a scenario where you can barely afford what you have, don’t incur further. And if you have already reached the point where you can no longer service the debt that you have, know that there is help,” she said.

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