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

  • 📰 City_Press
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The figures for the first quarter of this year show that the demand for debt counselling grew by 40% compared to last year. Nearly all consumers (96%) who apply for debt counselling have a personal loan. How are you coping with the cost of living crunch?

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 7. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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
Källa: City_Press - 🏆 7. / 72 Läs mer »

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.
Källa: SABCNews - 🏆 37. / 51 Läs mer »

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
Källa: FinancialMail - 🏆 20. / 63 Läs mer »