More South Africans than ever are using loans to make ends meet.
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GUEST – Benay Sager - Executive Head of DebtBusters
Although consumer confidence has improved and the rollout of the ‘two-pot’ retirement system has provided some financial relief, more South Africans than ever are using personal loans to make up the shortfall between income and the rising cost of living. DebtBusters’ Q1 2025 Debt Index found that 91% of consumers who applied for debt counselling in the first quarter had a personal loan, a new record. A further 37% had a one-month loan - also known as a payday loan.
Although consumer confidence has improved and the rollout of the ‘two-pot’ retirement system has provided some financial relief, more South Africans than ever are using personal loans to make up the shortfall between income and the rising cost of living. DebtBusters’ Q1 2025 Debt Index found that 91% of consumers who applied for debt counselling in the first quarter had a personal loan, a new record. A further 37% had a one-month loan - also known as a payday loan.
