‘Rich’ South Africans are drowning in debt, reveals debt index - EWN
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Taking home more than R50,000 a month might sound like financial security, but for some South Africans, debt repayments now require more money than they earn.
Taking home more than R50,000 a month might sound like financial security, but for some South Africans, debt repayments now require more money than they earn.
DebtBusters' second-quarter Debt Index shows consumers in this income bracket who applied for debt counselling are using 103% of their take-home pay to service their debt.
Benay Sager, executive head of DebtBusters, said the trend reflected a long-term shift in lending towards higher-income earners.
Original Source
https://www.ewn.co.za/2026/08/19/rich-south-africans-are-drowning-in-debt-reveals-debt-index
