Poly-jobbing is the new normal as young South Africans hustle to make ends meet
Old Mutual reports that 75% of 18-to-29-year-olds earn from two or more jobs, with social-media selling and small businesses playing a growing role in income strategies.
#costofliving
Signs that consumers are becoming desensitized to high debt levels
Nearly half of South Africans dedicate more than 40% of their take-home pay to repayments – and there are indications of ‘savings fatigue’.
South Africans swipe more, save less as financial strain deepens
The SpendTrend25 report reveals how high interest rates and stagnant incomes are pushing consumers towards credit, loyalty rewards, and early retirement withdrawals.
Budget: higher taxes, rising costs, and no relief for households
A phased VAT increase and frozen tax brackets mean South Africans will pay more, while concerns grow over government spending and economic stagnation.
Proposed VAT increase: fiscal necessity or economic catastrophe?
Instead of hiking VAT, the government could fix its tax collection problems, improve state resource management, and stimulate the economy to boost revenue.
Debt crisis deepens: South Africans using up to 75% of income to repay debt
DebtBusters’ Q4 2024 Debt Index reveals a worsening cash flow crunch, with rising reliance on short-term loans and record-high debt service ratios.
South Africa’s workforce forecast to see average 6% pay rise
Average inflation is expected to be 5.1% in 2024 and 4.8% in 2025 and 2026, according to the Bureau for Economic Research’s latest inflation expectation survey.
Budget 2024: Advice is critical to helping consumers navigate financial pressures
Financial advisers can guide their clients on how to manage the knock-on effect of rising costs without compromising their long-term financial wellness.
