n Personal Finance Newsletter - Tactics to survive the current debt cycle : your money
|Article Title||Tactics to survive the current debt cycle : your money|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Personal Finance Newsletter|
|Publication Date||Aug 2008|
In June this year the repo rate was increased by 50 basis points to 12%, bringing the prime overdraft rate to 15.5%. Higher fuel prices have also pinched household income, and consumer sentiment has fallen to its lowest level in four years. As a result, the average household pays more than 10% of its monthly income servicing its debt.
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