Where am I? Home >Economy Manuel: Too many caught in debt trap

UnUnOctium said:
Or people have it in their heads that renting a car for life while getting a new one every 2 years and just buying all the things is normal...
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I won't deny that is a major factor..

But I've gone from living very comfortably on my salary every month with a fair chunk to spare at the end of the month to now start to actually cut it VERY fine in terms of having any money left at the end of the month.. and its not because I "rent" a car or anything like that.. its the cost of everything constantly going up, and the MASSIVE increases in bills.
 
B.O.F.H. said:
I won't deny that is a major factor..

But I've gone from living very comfortably on my salary every month with a fair chunk to spare at the end of the month to now start to actually cut it VERY fine in terms of having any money left at the end of the month.. and its not because I "rent" a car or anything like that.. its the cost of everything constantly going up, and the MASSIVE increases in bills.
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One hardly makes provision for entertainment let alone savings. Inflation stands at less than 6% yet things like electricity increase by 30%.
 
I've been doing my taxes and I added up what I spent last year and I was shocked. No big ticket extravagances like home improvement, travel, cars or boats, no kids at school, no debt repayments but I still went thru a ton of tin. How the average Joe manages is beyond me. I have a lot of friends who make not much more in a year that I go thru in a friggin' month. And I'm not a big spender. But I need R95k a year just to pay insurances, levies, rates and medical aid (no aid really, a good hospital plan).
 
I'm also pretty irritated by this irresponsible consumer myth that keeps getting passed around by the lending facilities and dictators of wealth.
 
B.O.F.H. said:
I won't deny that is a major factor..

But I've gone from living very comfortably on my salary every month with a fair chunk to spare at the end of the month to now start to actually cut it VERY fine in terms of having any money left at the end of the month.. and its not because I "rent" a car or anything like that.. its the cost of everything constantly going up, and the MASSIVE increases in bills.
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+1 ... do we have anyone that does un-biased inflation figures ..... the gov ones seem very wrong
 
Well with Telkom, Vodacom, Eskom, BEE, government, petrol, tolls, NHI next year etc. sucking us dry what do you expect?
 
cerebus said:
I'm also pretty irritated by this irresponsible consumer myth that keeps getting passed around by the lending facilities and dictators of wealth.
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+1. Particularly from those in government. They keep piling on the indirect taxes. And then there is govt's Eskom. How much have the electricity increases added directly and indirectly to everyone's monthly tab? A HUGE amount.
 
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Londo said:
I've been doing my taxes and I added up what I spent last year and I was shocked. No big ticket extravagances like home improvement, travel, cars or boats, no kids at school, no debt repayments but I still went thru a ton of tin. How the average Joe manages is beyond me. I have a lot of friends who make not much more in a year that I go thru in a friggin' month. And I'm not a big spender. But I need R95k a year just to pay insurances, levies, rates and medical aid (no aid really, a good hospital plan).
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Eish looked at what myself and the SO pay and it's also close to that going to insurance, discovery and city of jhb...
 
Dear Manuel (and all the other no-good fatcats)

Ever heard of the saying "the last straw that broke the camel's back"?

You, sirs, are getting close to that point. Better back off right now, or the brown stuff will hit the fan - and it won't be pretty.


kthanxbai.
 
B.O.F.H. said:
I won't deny that is a major factor..

But I've gone from living very comfortably on my salary every month with a fair chunk to spare at the end of the month to now start to actually cut it VERY fine in terms of having any money left at the end of the month.. and its not because I "rent" a car or anything like that.. its the cost of everything constantly going up, and the MASSIVE increases in bills.
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+2

I don't own fancy cars or anything. Cheap cars FTW. But yet.. expenses are insane!
 
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