#MoneyMonday| Middle-class South Africans are struggling to make ends made, finances are becoming increasingly stretched as people struggle to make it until the end of the month.
Data published by FNB at the start of May shows that middle-class South Africans spend as much as 80% of their salary within five days of payday. The data shows that those earning between R180,000 and R500,000 annually survive on 20% of their salary for more than 20 days in a month.
- Data from debt management firm DebtBusters shows that South Africans have 31% less disposable income than six years ago, as a result of the average net income remaining flat while inflation soars.
Guest: Gerald Mwandiambira , Award winning CFP® Professional , Speaker and Author For professional financial planning and wealth creation and management
visit www.askgerald.co.za
Twitter: @AskGeraldCFP