SA’s R52bn unsecured debt mountain and a question of basic human rights – Malcolm Rees
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South Africans take home less and less money. Like the frog slowly boiling in water the average South African seems oblivious to the fact that month to month, year to year they have less money.
This is a combination of incomes not increasing, exposure to debt increasing and debt repayments increasing but most of all, its living costs that have exploded.
Food, fuel and utilities are taking an ever larger bite out of take home incomes.
Banks have jumped at the chance to lend to debt stressed consumers in the form of personal loans and credit cards. Desperate consumers have jumped at the chance for some quick relief.
All signs are that in 2020 this will only become more difficult.
Are you feeling stressed at all about your debt? Why not ask for help!
