Debt levels reach beyond 80% in consumer group

In a bid to find out how indebted South Africans are, JustMoney conducted a survey that attracted 190 respondents. The survey was conducted in November 2020, and every participant had 13 questions to answer.

According to the survey findings, close to 83% of those who completed our survey have some form of debt, while the remainder said they didn’t have any.

Close to 59% of the participants have personal loans, 48% have credit cards, more than 21% have home loans, 17% have vehicle finance, and almost 5% have student loans. The remaining 24% didn’t specify the kind of debt they had.

Of the respondents, 63% have one personal loan each, nearly 19% have two, and a little more than 18% have three or more. Just over 85% of the respondents own at least one credit card, while just over 10% own two, and 4% have three or more.

To view the full survey results, click on the icon below ‘JustMoney Survey’.