Finance Minister Enoch Godongwana’s national Budget, revealed last week, made it clear that while South Africa has a primary surplus , the truth is our country is buckling under massive debt costs.
Farzana Botha, segment solutions manager at Sanlam Savings, notes that the past three years have seen increasing pressure on consumers’ wallets, particularly since incomes have not increased in line with inflation. Last year alone, the rising cost of living, higher interest rates and the worst year of rolling blackouts served toSalary decline
through your bank statements in detail. Most online banking applications allow you to look separately at the money that comes in and the money that is paid out. “Pay close attention to the money that is paid out, especially all the small and often unnecessary purchases – these can add up quickly!” she warns.