By: Nokukhanya Mntambo
Debt Rescue CEO Neil Roets said this is caused by a combination of factors including aggressive marketing campaigns, frivolous spending, as well as making up for lost time following restrictions during the COVID-19 pandemic.
JOHANNESBURG – Debt rescue CEO Neil Roets said the number of consumers applying for credit is on the rise this festive season.
Roets said this is caused by a combination of factors including aggressive marketing campaigns, frivolous spending, as well as making up for lost time following restrictions during the COVID-19 pandemic.
Money supply and credit data shows credit growth accelerated in the latter half of the year – with the festive season expected to see an even higher demand for loans, advances, as well as other unsecured credit.
Roets said there are at least three tips to stretch the last buck until January.
“January is usually a very long month because people tend to get their salaries early in December, so you want to bear that in mind when you draw up your budget. Secondly, make sure you budget for this festive season, and thirdly, remember that you do not always need to spend money on your loved ones for them to appreciate time with you.”
Click here to read the full article: https://ewn.co.za/2022/12/30/consumers-applying-for-credit-on-the-rise-this-festive-season
