Debt crisis: South Africans earning R50k and above need 103% of their salary for repayments
Top earners in deep debt crisis The report revealed that while the total amount of money South Africans need to service their debt has improved, things have worsened for the country’s top earners.“The total debt to annual net income ratio is 307%, and they need 103% of their take-home pay every month to service their debt repayments,” reads the index.
Debt repayment to net income ratio The debt index also showed that the more people earn, the more money they need to service their debt.
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