Debtfree Magazine Issue 3 of 2022

ARE WE POOR NOW?
LIVING
ON CREDIT
Credit is readily available these days, and many
retailers are totally dependent on offering credit and
operating as a credit provider, just to stay in business
and make a profit. People around the world make use
of credit to get things immediately, which will take
years to pay off. It provides instant gratification, and is
preferred by most, to saving up for things over time.
The result is that millions of South Africans have been living well
beyond their means for years. Most are totally dependent on their
credit just to make it from one month to the next.
Over time, most people’s debt grows and grows as they borrow
more, to make ends meet and keep up with the rising cost of living.
Eventually, consumers are making use of credit just to pay for their
next meal. At this point they are so deep in debt that most of what
they earn each month, has to be thrown into their debt repayments.
Many find that they simply cannot keep up.
Debt review is designed to break this cycle.