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

[Slootvreter]

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!

So most people with iPhones do buy them cash?

 

[Slootvreter]

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.

It was a question

 

[Sm00thSm0k3]

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.

That may be true and all signs point to that but in the area's where I work and live the amount of shiny new X5's, Range Rover's, C-classes and Jeep Grand Cherokee's I see on the roads is mind boggling. I keep asking myself "where is the money coming from?"

 

[backstreetboy]

It was a question

I know and I have a suggestion.

 

[Kosmik]

One chap I know got a new iphone 6s plus with 128Gb, apparently is something stupid like R30k. For a phone

 

[Adenoid Hynkel]

One chap I know got a new iphone 6s plus with 128Gb, apparently is something stupid like R30k. For a phone

He got ripped a new one I'm afraid

 

[Albert Broco]

That may be true and all signs point to that but in the area's where I work and live the amount of shiny new X5's, Range Rover's, C-classes and Jeep Grand Cherokee's I see on the roads is mind boggling. I keep asking myself "where is the money coming from?"

You are absolutely correct, I see this too in the area I live, the people driving Ferrari's, Ford Mustangs, Porsche's and we too keep asking where these people get their money from. But, then again, I think these people are all Zuma and Gupta related in some way or the other. There is absolutely no way on earth you can drive a R2 million car by having a normal job somewhere.

 

[Kosmik]

He got ripped a new one I'm afraid

Well, it was direct from MTN

 

[Albert Broco]

Enlighten us Nostradamus.

Just look up North and you will see the future of South Africa. And, please, do not come back and tell me "South Africa will never go there....'.

 

[backstreetboy]

Just look up North and you will see the future of South Africa. And, please, do not come back and tell me "South Africa will never go there....'.

Clone freddie account?

 

[The_Librarian]

We also cut out most of our expenses, and is buying food directly from the market, bypassing the shops with their crazy markups.

Already most of our "luxuries" have been sacrificed, and we have moved to a smallholding where it is cheaper.

Should I need another car, I'll look around for a good secondhand car instead of a new car.

And not making new debt. Cold-callers phoning us regarding credit cards and the such will only hear a >click< Not interested in credit anymore.

 

[ChocolateBadger]

It's all about priorities. Rent, Fuel budget, food budget, medical aid, insurance. I will rather have a roof over my head and food in my house with a way to get to work and back than dstv on my TV and a fancy phone.

 

[Garson007]

I have to admit though, a lot of the data I have seen doesn't show that people are struggling more with debt. I'm actually seeing much better credit ratings YoY. So. *shrug*

 

[saturnz]

I have to admit though, a lot of the data I have seen doesn't show that people are struggling more with debt. I'm actually seeing much better credit ratings YoY. So. *shrug*

But debt to income has only dropped 5% in the last ten years to around 75%