Debt levels reach beyond 80% in consumer group

By Staff Writer

In a bid to find out how indebted South Africans are, JustMoney conducted a survey that attracted 190 respondents. The survey was conducted in November 2020, and every participant had 13 questions to answer.

According to the survey findings, close to 83% of those who completed our survey have some form of debt, while the remainder said they didn’t have any.

Close to 59% of the participants have personal loans, 48% have credit cards, more than 21% have home loans, 17% have vehicle finance, and almost 5% have student loans. The remaining 24% didn’t specify the kind of debt they had.

Of the respondents, 63% have one personal loan each, nearly 19% have two, and a little more than 18% have three or more. Just over 85% of the respondents own at least one credit card, while just over 10% own two, and 4% have three or more.

To view the full survey results, click on the icon below ‘JustMoney Survey’.

JustMoney Survey

Recent Articles

Featured Debt levels reach beyond 80% in consumer group

In a bid to find out how indebted South Africans are, JustMoney conducted a survey that attracted 190 respondents. The survey was conducted in November 2020, and every participant had 13 questions to answer.

Read more

79% of women are in charge of their money

August marked a month when women were celebrated nationwide. In paying tribute to the mothers, daughters, and sisters of the nation, JustMoney conducted a 13-question survey to establish how women in the modern world manage their moneyClose to 400 women responded. 

Read more

COVID: Selling a house in the time of Covid-19

Selling your house can be one of the biggest challenges you’ll ever encounter in your life. This is not only because of the time and money spent investing in it and your accompanying emotions, but also because of economic factors. But is it wise to sell your house during the Covid-19 pandemic?

 

Read more

COVID: Getting real about employee benefits

In this part of our Covid-19 Content series we chat to an industry expert to understand how you can make the most of your employee benefits especially during this time, and why you shouldn’t be tempted into payment holidays or potential benefit downgrades.

Read more

Deals

Rouge Day Spa Tuesday Special

Price: Available on request
When: Tuesdays
Where: Cape Town

Monte Vista Two Nights Special

Price: Available on request
When: Until 31 December 2021
Where: Montagu

Century City Hotel 4 Nights Special

Price: From R1100
When: Until 31 January 2021
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions