You can’t save your way out of a debt problem
National Savings Month encourages South Africans to develop healthier saving habits and build greater financial resilience. The initiative is important, but much of the advice assumes consumers have money to save – something that doesn’t reflect the financial reality facing many households.
Research[1] , [2] …
The festive season can be testing for even financially disciplined consumers, and by the time South Africans return to work, many will have spent more than they can afford.
According to René Moonsamy, chairperson of the National Debt Counselling Association, it’s a cycle that repeats itself year after year, with debt counselling enquiries spiking every…