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JOHANNESBURG – The festive season is fast approaching and many South Africans are already feeling the financial strain.
This is shown by a rise in credit card and loan reliance for holiday expenses.
READ | UN talks on saving nature stumble on finance hurdle
Only 37 percent of South Africans had savings set aside for the festive season last year, down from 40 percent in 2022.
Instead, many people relied on bonuses or credit cards and loans.
Milaw Legal says a “financial detox” can help people prepare for the holidays and recover afterwards.
To discuss this fruther, Somila Gogoba from Milaw Legal spoke to eNCA.
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