More South Africans are ‘borrowing’ cash to maintain their living standards

[BusinessTech]

More South Africans are ‘borrowing’ cash to maintain their living standards

The latest Consumer Credit Index from TransUnion shows that while South African credit health has improved slightly, consumers are feeling the pressure and turning to urgent credit sources to keep afloat.

 

[Beachless]

I had to borrow R6 from a colleague to buy some biltong the other day.

 

[ToxicBunny]

I had to borrow R6 from a colleague to buy some biltong the other day.

The horror....

How did you ever repay him?

 

[Deadmanza]

The horror....

How did you ever repay him?

Probably did it over 12 months. Seems the only viable way.

 

[ToxicBunny]

Probably did it over 12 months. Seems the only viable way.

12 months?

Jees dude, thats a bit on the short side... I would have guess 10 years at least.

 

[Kosmik]

Probably did it over 12 months. Seems the only viable way.

Least he paid back....

 

[Garson007]

Least he paid back....

Was gonna say. Those sums generally just fall through the cracks.

 

[Beachless]

Least he paid back....

Actually I havent But I have offered

And I've paid R2 forward to someone else.

 

[NarrowBandFtw]

I had to borrow R6 from a colleague to buy some biltong the other day.

:wtf: at the typical price/kg of biltong how much is R6? One sliver?

 

[Albert Broco]

This is merely a debt bubble that will burst under its own weight in the very near future. Our economy no longer can afford to offer people a decent living. Lifestyles in South Africa will soon undergo a terrible change.

 

[OCP]

Most people i know have cut back on expenses to the point that going hungry or canceling medical aid/insurance is all that is left.
Things are tough enough already and our dear president is not making it any easier...

 

[Albert Broco]

Most people i know have cut back on expenses to the point that going hungry or canceling medical aid/insurance is all that is left.
Things are tough enough already and our dear president is not making it any easier...

Tighten your belts, because things are about to get much, much more worse.

 

[Nod]

:wtf: at the typical price/kg of biltong how much is R6? One sliver?

Probably takes the 6g in powder form through the nose ...

 

[Beachless]

:wtf: at the typical price/kg of biltong how much is R6? One sliver?

It was a balloon payment on my original purchase. So refinanced debt.

 

[Beachless]

Probably takes the 6g in powder form through the nose ...

It was chilli flavored as well...

 

[WaxLyrical]

Tighten your belts, because things are about to get much, much more worse.

Enlighten us Nostradamus.

 

[backstreetboy]

More South Africans are ‘borrowing’ cash to maintain their living standards

Sounds about right. iPhones etc.

 

[Slootvreter]

Sounds about right. iPhones etc.

Do most people with iPhones usually buy them cash?

 

[Zarkon]

They own an iphone 6,iphone 7 comes out a year later. Oh i need a new phone,my other one is too old now!

 

[backstreetboy]

Do most people with iPhones usually buy them cash?

What does that matter? A R150 p/m phone versus a R499 p/m phone leaves you with R300 you could've been spending on anything else.