There is a reason why January is called Januworry that broke feeling after December when you have no money for the month and try to recover from the festive buying hangover. The survey insights paint a dismal picture of a nation in deep financial trouble.
Debt Rescue conducted a survey earlier in January to determine the financial and emotional state of citizens as they navigate the first month of the new year. Some of the key results that paint a dismal picture include:
58.5 of respondents are financially worse off after the festive season
34.9 feel extremely stressed and anxious, while 29.3 feel worried, and 23.1 are completely overwhelmed by their financial situation in January
52 indicated that they saved up during the preceding months to be able to afford to celebrate
23 say they did not indulge in celebratory spending at all
Over half 51.6 say their biggest regret this year does not come from spending on luxury items, but rather the cost of celebrating
39.4 of those polled say the high cost of living is the main reason January is worse than other months, while 37 cite school fees and other back-to-school costs as their biggest expense and source of financial concern.
Survey shows consumers are worse off in January than in DecemberThe results of our post-festive season survey are deeply concerning to say the least and indicate that South Africans are substantially worse off in January than they were in December, Neil Roets, CEO of Debt Rescue, says.
