Debt Rescue: 46% of South Africans can’t afford basic needs
South African consumers are sacrificing essentials like electricity and food amid a severe cost-of-living crisis.
According to Debt Rescue's latest survey, many have switched to gas and solar, while 40% pursue side hustles.
ALSO READ: SA’s middle class sinking deeper into debt
Rising unemployment and escalating debt pressures underscore a precarious financial landscape worsened by recent economic challenges.
Around 46% are said to be unable to afford basic necessities each month.
There's a projected household debt-to-income ratio of 65% for 2024.
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