South Africans are cash-strapped before payday
Neil Roets, CEO of Debt Rescue, responded to Standard Bank’s recent survey revealing that many South Africans are cash-strapped before payday. He described the findings as alarming, highlighting a broader issue of financial insecurity across all income brackets. Roets pointed out that rising inflation and historically high interest rates have left many households struggling to afford basic needs, with food often being bought on credit.
Create a Budget
To manage these challenges, Roets advised consumers to create a budget, prioritise essential expenses over discretionary spending, and carefully plan festive season shopping to avoid unnecessary debt.
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