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Consumers urged to curb unnecessary spending as economy reopens - DebtBusters

30 June 2020 9:00 AM
Tags:
Debt
Spending
Consumers
lockdown level3

The organisation's COO Benay Sager says people should avoid getting into debt as no one knows what the future holds.

DebtBusters is warning South African consumers not to fall into unnecessary spending habits as the economy slowly reopens.

RELATED: Consumers advised to use their credit life insurance for relief

The organisation's chief operating officer Benay Sager tells Bongani Bingwa that even though consumers can spend money now, no one knows what the future holds thus people need to limit their spending.

We see that people have had no increase in their salaries over the last several years therefore we believe that is going to be the case for the rest of this year. As a result we are warning consumers not to get themselves into further trouble as they are going to need the cash that they have now in a few months time.

Benay Sager, COO - DebtBusters

He says as there is a lot of uncertainty in job security, he is cautioning consumers not to get into further debt.

Listen below to the full conversation:


30 June 2020 9:00 AM
Tags:
Debt
Spending
Consumers
lockdown level3

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