A recent study conducted by Nedbank reveals that 42% of South Africans struggle to manage their debt, causing significant concerns about their mental health. As interest rates rise, it is crucial to reflect on financial portfolios to avoid sinking deeper into debt.
It’s a financially challenging time for most households. With interest rates rising, many are spending even more money on debt repayments or taking out loans to help make ends meet. released recently in South Africa , compiled by one of the country’s biggest banks ( Nedbank ), found that 42% of South Africa ns across various income levels cannot manage their debt.
This indebtedness has caused 67% of the respondents to worry about their debt to the point that it negatively affects their mental health. As the festive season draws near, it may be tempting to let your financial guard down and enjoy the upcoming holidays. But it is also a good time to reflect on your financial portfolio so that you don’t find yourself sinking deeper into the debt hole. My research as a finance and financial planning academic seeks to understand the pathways that lead to economic empowerment and improve financial security, including the role of debt and other financial product
Financial Challenges Debt Management South Africa Nedbank Interest Rates Mental Health Financial Portfolio
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