Middle-income South Africans spend their monthly pay in 5 days or less

[BusinessTech]

Middle-income South Africans spend their monthly pay in 5 days or less

More than half (56%) of middle-income consumers in South Africa spend their entire monthly salary in five days or less after receiving it.

 

[RazedInBlack]

But . . . but . . . FNB, you rely on debt to maximize profits.

 

[ArtyLoop]

Middle-income South Africans spend their monthly pay in 5 days or less

More than half (56%) of middle-income consumers in South Africa spend their entire monthly salary in five days or less after receiving it.

Its the norm.
I pay my dues, and what's left has to last the rest of the month. Unfortunately there's always the ANC around the corner looking for a cut..

 

[aapkop]

Einde van die maand tot die einde van die aand

 

[3WA]

If part of that spend is paying extra into debt or transferring to savings, then there's no problem. My cheque account will be left with about R100 by about the 2nd of each month.

 

[Lupus]

Unfortunately sounds about right, get your monthly groceries, all your debt comes off. If only I didn't have to pay for medical aid, private school fees and security I'd probably be okay but the double or sometimes triple tax is what gets me.

 

[Sumen]

I really feel that government needs to give people at least a months income tax break - maybe December.

 

[d0b33]

Going to Woolworths and seeing people with trolleys full of groceries... no surprise really.

 

[Pineapple Smurf]

5 days? i wish

 

[OCP]

5 days? i wish

Yup - all gone once the debit orders clear.
If it wasn't for my spot on main road a few time a week in the evening we would be starving ;-)

 

[Pineapple Smurf]

I really feel that government needs to give people at least a months income tax break - maybe December.

i was just saying last week that banks should offer this for those with home loans. It will help people with Dec holidays and back to school.
And I don't mean scrap the Dec payment, just let it roll over so that you still pay your 240 payments but instead of 20yrs it is 21.8 years (i think thats what i worked it out to). We all win as the bank has you in debt for 1.8years longer and we can enjoy our December holidays like the rich can

 

[Pineapple Smurf]

Yup - all gone once the debit orders clear.
If it wasn't for my spot on main road a few time a week in the evening we would be starving ;-)

Yup, once my debit orders all go off i have enough for food and petrol to last the month.

 

[LOTR]

There's always too much month left at the end of the money

 

[maumau]

Middle income: R7 000 to R60 000? Pretty broad isn't it?

 

[KleinBoontjie]

5 days??? that long? pftt, noobs.....

 

[Mike Hoxbig]

FNB customers can activate a ‘Bank Your Change’ capability on their cheque account. The Bank will round-up the amounts charged for successful point of sale card transactions to the nearest rand and the funds will be transferred weekly to a savings account.

The problem with that is you're discouraged from swiping your cheque card due to the eBucks earn rules. Now if this could be activated on your credit card...