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02 Nov 2020

OPINION | South Africans are drowning in debt. It's time to break free

Hannes Viljoen

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It is also important to mention your retirement savings plan, and whether you are on target to meet it.

krisanapong detraphiphat

South African households are carrying a heavy debt burden. But, says Hannes Viljoen, it's stealing from their future.

The Collaborative Fund's Morgan Housel put it best: "For every dollar of debt, someone else owns part of your future. For every dollar of savings you have, you own a part of your future."

According to a recent TransUnion study:

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