East Coast Radio Online | SA consumers’ debts reach alarming levels

It says debt-to-income ratio’s at an all time high because consumers are spending 60% of their take-home pay to service debt.

According to a DebtBusters report, real incomes have dropped by 21% as inflation continues to bite workers, with a growth of 24% since 2016.

The group’s Benay Sager says levels of unsecured debt have also risen by 32% in the last five years.

Read the full article on East Coast Radio Online.

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