Debt crisis: South Africans earning R50k and above need 103% of their salary for repayments
Starting each month financially on the back foot
According to a report by DebtBusters, South Africans earning R50,000 or more per month are struggling to make ends meet due to their debt burden. The Debt Index, released on Tuesday, shows that these high earners need more than their full salary to cover debt repayments, putting them in a financially precarious position from the start of each month.
The total debt-to-annual net income ratio for this group is 307%, meaning they need 103% of their take-home pay to service their debt each month. The report also found that unsecured debt levels among top earners are 84% higher than inflation and salary growth, highlighting the widening gap between income and debt.
Written by urgent.news from The Citizen's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
