
Consumers fear they are running out of financial breathing room
A Debt Rescue survey suggests many households have little capacity left to absorb higher borrowing costs, adding to concerns about rising food, fuel, and electricity expenses.

A Debt Rescue survey suggests many households have little capacity left to absorb higher borrowing costs, adding to concerns about rising food, fuel, and electricity expenses.

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.

Old Mutual’s Johann Els says rising personal inflation could quietly erode household finances and retirement savings – making it vital to save early and more.

A phased VAT increase and frozen tax brackets mean South Africans will pay more, while concerns grow over government spending and economic stagnation.

Despite relatively low overall withdrawal rates, 24% of claimants are using their retirement savings for home or car repairs and 21% for settling short-term debt.