A recent survey by Sanlam found that 70% of South Africans run out of money before the end of the month, and only 18% are able to stick to a spending plan. Debt is clearly a problem for many South Africans.
Blessing Utete, Managing Executive at Old Mutual Corporate, agrees: “Costs are eating into all our budgets – it’s like a hold-up every time we fill up at the petrol pump, food inflation is in double digits, repaying a home loan for a new R2 million bond has increased by more than R4000 per month since the