
Debt pressure shifts up the income ladder despite rate relief
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.

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.