South Africans borrowing money to get to end of month
Overall consumer finances expected to remain vulnerable especially given slowing growth prospects and high rates
02 February 2023 - 18:27
Take-home pay has remained flat in the past six years and compounded with elevated inflation and increasing borrowing costs, consumers are forced to supplement their salaries with unsecured borrowing, a survey has shown.
Salaries still remain the largest proportion of income for households across the board, typically followed by social grants, and then other sources which can include borrowings...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.