By Kathryn Main
In 2022 we had eight petrol price increases, three interest rate hikes, a huge rise on food prices and our annual 10% price increase on most of our monthly expenses. This has left many working class families in a financial bind.
More than 70% of income earning adults in South Africa are living on credit cards and store cards to make it through the month. When we spend more than we earn we very quickly get into debt. So if you do not have enough money to make it through the month what can you do to stop yourself from getting into debt?
Well, it's easy, make more money.
Before you decide how you can make more money you need to understand why you need more money. What will more money give you and enable you to do?
Ask yourself this question: What is not taking action costing you? How much more debt are you willing to incur before you take action and change your financial situation?