CEO Neil Roets says 2016 has been a hard year for most consumers, but 2017 will more than likely see even more people going into debt.
JOHANNESBURG – Debt Rescue has warned South Africans are in for more troubled economic times in 2017.
It says issues like next week’s hefty increase in fuel prices and overspending during the festive season will mean that people could find themselves struggling financially in the new year.
Debt Rescue chief executive oOfficer Neil Roets says 2016 has been a hard year for most consumers, but 2017 will more than likely see even more people going into debt.
Roets says South Africans continue to overspend during the festive season and fail to budget in order to avoid falling short in the new year.
“We see that during the festive season people spend a lot of money and come January they would have to face that.”
He has urged South Africans drowning in debt to seek debt counselling.
“There are means to improve the situation and one of these, and the most important, is counselling.”
Debt rescue has also stressed the importance of parents ensuring they budget carefully so that they can continue to cover school fees and credit payments in the new year.