PODCAST: How to get out of the debt trap

By Ina Opperman

Even consumers who earn a high income are watching how they spend their money.

The latest survey by Debt Rescue reveals that not being able to put money away at the end of each month is the biggest concern weighing on the minds of South Africans, with a massive 67% of people citing this as their biggest challenge when it comes to saving although that is unsurprising due to the escalating cost of living.

The survey shows 46% of respondents single out insufficient income to cover basic necessities as their biggest challenge.

Although 61% deemed saving extremely important, only 16% can save with every pay check and 50% of the respondents saved less than 5% of their income.

Listen to Annaline van der Poel, COO of Debt Rescue, explain how bad the situation is for the majority of consumers and what you can do to get out of the financial hole where most South African consumers find themselves.

Follow the link to listen to the podcast: https://www.citizen.co.za/multimedia/podcasts/how-to-get-out-of-the-debt-trap/

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