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Big trouble for South Africans earning over R20,000 per month


Published on 2025-03-25 05:20:51 - BusinessTech
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  • Confidence amongst South Africans earnings over R20,000 per month has nosedived, with many expecting the economy and their finances to worsen over the next 12 months. The latest FNB/BER Consumer Confidence Index (CCI) dropped from -6 to -20 index points during the first quarter of 2025.

The article from BusinessTech discusses the financial challenges faced by South Africans earning over R20,000 per month due to the rising cost of living and increasing interest rates. Despite their relatively high income, these individuals are finding it increasingly difficult to manage their finances as expenses like fuel, food, and electricity continue to escalate. The article highlights that even with salaries above this threshold, many are struggling with debt, particularly as interest rates rise, making loans and credit more expensive. It also points out that the middle class is shrinking, with many being pushed into lower income brackets due to economic pressures. The piece suggests that financial planning, budgeting, and possibly seeking additional income sources are becoming essential for this demographic to maintain their standard of living.

Read the Full BusinessTech Article at:
[ https://businesstech.co.za/news/finance/818030/big-trouble-for-south-africans-earning-over-r20000-per-month/ ]