What keeps us up at night?
In a recent poll Justmoney asked its users what their greatest financial concern was. Do you share their anxiety?
Credit Card Debt and Mortgages are playing on the minds of South Africans.
When asked the question 'What is your greatest financial concern?', respondents in last month's FNB powered Justmoney poll were torn between listing credit card debt or the inability to attain a bond as their biggest financial worry.
Respondents participated in the poll throughout the month of July and were hard pressed to choose between the two as their greatest financial concern.
While some 35 percent said that being unable to get a bond for a home was their primary concern, the result was hotly contested, as 33 percent of the respondents said that paying off short term debt, in the form of credit cards, was their immediate worry. Interestingly, the next most popular vote went the way of 'Nothing, I'm cool', with fewer respondents listing concerns about school fees and the kids as foremost on their minds.
Justmoney's general manager, Andy Gilder, says that while the site constantly takes measures to better educate consumers, the results of the poll show that there are still a number of people whose financial concerns develop from living beyond their means. The fact that credit was no longer freely availability meant that a lot of people needed to alter their lifestyles or face serious financial pressure.
"While the over indebted should be looking for ways to cut out expenses and pay off their debts faster, we are still seeing a number of users actively looking for additional loans to get out of the debt that they are already in. Many people have taken to the internet to acquire more credit in the hope that the lending criteria will be more lenient online, but the reality is that credit is not freely available anywhere at present - the internet is not an 'easier way to borrow'."
The full results of July's poll — which asked the question 'What is your greatest financial concern?' — are as follows:
- 35 percent said 'I can't get a bond to buy a house'
- 33 percent said 'Not being able to pay off my credit card'
- Nine percent said 'Next year's school fees'
- Seven percent said 'Maintenance for my kids'
- 19 percent said 'Nothing, I'm cool.'
To learn more about Fast Track for Debt Consolidation click here
Latest News
Debt Consolidation Poll