As the festive season kicks off, the National Credit Regulator (NCR) has urged South Africans to manage their finances carefully to avoid falling into debt. With millions already over-indebted, the regulator warns that overspending could leave many struggling at the start of 2026.
Around 10 million consumers in the country are considered over-indebted, highlighting the importance of financial discipline during this period.
Jimmy Golele of the NCR said; “People should focus on paying off existing debts while still setting aside money to enjoy the festive season. Consumers should avoid reversing debit orders to free up cash, as this practice can create more financial problems.”
The NCR points out that balancing celebration with responsible spending is crucial for starting the new year on solid financial footing.
–ChannelAfrica–
