ZA

Middle class drowning in debt as cost of living continues to rise

21/06/2024

middle class drowning in debt as cost of living continues to rise

Debt

JOHANNESBURG - More and more South Africans are struggling to get by each month. This as the cost of living continues to rise.

Many families are having to borrow money to survive as a result.

READ: Debt review | Many consumers trapped with no escape

A study conducted by Finmark shows that 94 percent of income spending among South Africans goes towards consumption expenses such as food, electricity, and transport.

FinMark Trust's Head of Financial Inclusion for South Africa, Lesego Mashigo had a discussion with eNCA's Dan Moyane.

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