Personal Finance | Cost of living is forcing people into debt review | City Press

The report shows that there has been a growing demand for debt counselling as consumers struggle under increasing debt repayments and higher living costs.

Customers applying for debt review are spending an average of 65% of their net income on paying debt. Those taking home R20 000 or more per month put 70% of their income towards debt repayments. People earning less than R5 000 a month are spending 74% of their income on debt repayments before entering debt review.

He says an analysis of those under debt review shows that the share of vehicle debt as a percentage of total debt has increased in the past few years.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Personal Finance | Smart moves for a new mum | City PressPersonal Finance | Smart moves for a new mum: If you are planning on being a stay-at-home mum for a while, continue to contribute something towards your retirement, advises Maya Fisher-French
Source: City_Press - 🏆 7. / 72 Read more »

China's rising clout spotlighted at finance chief meetings before G7 summit - SABC NewsThe weekend gathering of finance chiefs from the Group of Seven (G7) advanced economies did not single out China as a threat in their communique, but left signs the world’s second-largest economy will loom large at this week’s summit in Hiroshima.
Source: SABCNews - 🏆 37. / 51 Read more »

THE FINANCE GHOST: Of Apples and OraclesWarren Buffett has swept the board with concentrated bets on shares like Apple and Chevron. Should we lesser mortals follow suit? Asks FinanceGhost
Source: FinancialMail - 🏆 20. / 63 Read more »