Majority of South Africans under financial strain - survey
A survey has found that three out of four South Africans experience financial stress.
Debtbusters released the findings of its annual Money Stress Tracker survey this week.
The company's Benay Sager says out of the 35 000 respondents, 78%, most of them lower-income earners, said they felt money stress.
It's up from 70% in 2022.
Those who earn more are drowning in debt.
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Sager says the survey found that women tend to be 10 to 15% more stressed about finances, home and work life, as well as their health.
"All those who say they are financially stressed 94% of them say it has also affected their homes, so it is quite a major finding. One reason was running out of money at the end of the month, and the second reason was struggling to pay towards their monthly debt repayments, and that is 44% of the respondents, that is up from 36% last year.
"One of the other major findings was that 23% of the participants were worried about interest rate increases, and I think we need to think of these together."
