As the festive season approaches, a recent Debt Rescue survey has revealed a disheartening picture of a nation grappling with severe financial distress. With household budgets offering little in the way of seasonal joy, it appears that many will be trading in festive cheer for financial caution this year. The survey revealed that a massive 68% of people said they have no plans to travel and 62% attributed their decision to the high fuel costs, it's evident that this will be a stay-cation festive season for most South Africans.
"It's clear from our festive season survey results that millions of hard-working citizens who were looking forward to their annual trip to visit friends and family during the end-of-year holidays will no longer be able to afford this once-a-year luxury," said CEO of Debt Rescue Neil Roets. "This points to the deep financial waters the average South African finds himself or herself in as we head into 2025," he said. The survey provided an in-depth analysis of the current consumer spending patterns, focusing on the festive season's expenditures in the face of the nation's economic hardships.
"It came through strongly that people are planning to spend far less on Christmas gifts this December, with 71% saying they may have to give up on any gifting...
Ashley Lechman.