Online gambling surged 390% in four years, with losses potentially extending beyond household finances to consumers’ long-term credit standing as debt mounts and repayments fall behind.
Debt does not die with you – it becomes part of your estate, potentially affecting what your family inherits and how quickly they can access it.
DebtBusters’ Q2 Debt Index shows that consumers earning over R50 000 a month need more than their monthly income to service debt.
DebtBusters data shows repayments still swallow most take-home pay, with pressure shifting upwards to higher earners and credit thinning out for lower-income households.
Despite easing inflation and lower borrowing costs, South Africans entering debt counselling use 71% of take-home pay to service debt, according to DebtBusters.
From no-fee schools to R200 000-plus private options, rising education costs are forcing families to budget smarter, plan earlier and rethink how they fund schooling without sinking deeper into debt.
The bank’s Financial Stability Review also flags the growing financial distress among households and SMMEs and the vulnerabilities in the commercial real estate sector.
