A South African Reserve Bank report states that about 75% of the average working professional's monthly salary goes toward repaying debt. According to the National Credit Regulator, almost 40% of credit-active consumers have damaged credit records. These shocking figures paint a bleak picture of the financial sustainability and the realities many South Africans face.
With…
South Africans between 18 and 65 will spend an average of R 5 606 during the festive season. Additionally, based on Statistics SA's mid-year population estimates, working-age South Africans are expected to pump R204 billion into the economy in 2022. In September 2022, the average nominal salary reached R15 063, up from a revised R14…