South Africa’s middle class is in big trouble

Cius

Cius

Executive Member
Joined
Jan 20, 2009
Messages
8,347
Only thing saving me was some good decisions/sacrifices I made some time back. First one was to aggresively get out of debt rather than up my lifestyle with better cars/bigger house. Got debt free 3/4 years ago and not having a bond/rent to pay is balancing my budget in a big way right now. Especially with interest rates being so high.

Scary thing I noticed the other day was that I installed solar 7 months back. Halved my electric bill saving me R600 pm roughly. When I compared my levy statement from my complex from a year ago to today though I was expecting to see the payments where roughly R600 minus a bit for inflation lower but with the massive increases to water, electricity, and municipal rates like sewerage etc as well as a reasonable increase to our levy I was only saving R200 from Jan last year. Its insane. Helped me make the decision to buy a second battery for my solar taking me from 50% off grid to about 80% off grid. When I get the extra panel installed and tweak my system a bit more I hope to be 90% self providing.
 
S

Slowestclock

Well-Known Member
Joined
Oct 14, 2022
Messages
325
I'm fortunate that everything I have, I own including my home, veichles etc.

Sacrificed alot of things in my 20s and 30s to get to this point, some of my friends driving around in their x3 and x5s are kaking but refuse to downsize due to ego
 
geezer

geezer

Expert Member
Joined
May 12, 2006
Messages
4,255
The heading most probably should have been "South Africa is in big trouble".
 
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