Lizl Bowker

How salaries in South Africa are shrinking South African salaries have effectively shrunk over the last five years new data from debt counsellor DebtBusters shows.

https://businesstech.co.za/news/finance/496617/debt-data-shows-middle-class-people-in-south-africa-are-battling-to-make-ends-meet/

Middle-class South Africans are battling to make ends meet Enquiries about debt counselling have grown significantly in 2021 according to the National Debt Counsellors’ Association (NDCA), with some members recording increases of over 30%.

https://www.dailymaverick.co.za/opinionista/2021-05-24-the-financial-wellness-coach-pay-off-debt-or-invest-that-is-the-question/

OPINIONISTA: The Financial Wellness Coach: Pay off debt, or invest? That is the question Question: I recently received an unexpected bonus from my company and don’t know whether to put it into my home loan or to invest it. What do you suggest?

https://www.news24.com/fin24/money/money-consumers-are-flocking-to-debt-counsellors-what-should-you-know-about-this-process-20210209

MONEY | Consumers are flocking to debt counsellors - what should you know about this process? | Fin24 DebtBusters is reporting a 40% increase in debt-counselling enquiries in January. But consumers still struggle to understand the complexities of this process.

https://www.news24.com/fin24/Finweek/Content/debt-review-there-is-no-turning-back-20210610

Debt review: there is no turning back | Fin24 Consumers need to think carefully about their outstanding debt before they enter debt review.

“Although nominal income is 7 percent higher compared to 2016 levels, when cumulative inflation of 24 percent is factored in, real incomes have shrunk by 17 percent in five years. Many consumers are compelled to borrow to make up the shortfall,” said Sager.

SA consumers seeking help with debt has gone up by 31% South African consumers who sought help to manage their debt increased by 31 percent compared to the same time last year, the DebtBusters debt index for the first quarter has found.