Consumers in South Africa are facing ever-increasing financial
pressure which, according to experts, is set to last through to
late 2010.
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Food prices have increased by 80% since 2002, having risen
over 15% in 2008 alone |
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Home loan, vehicle and credit card instalments have
increased by 31% in 18 months |
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Over 2 million Garnishee orders have been issued to
employers, meaning that two out of every six staff members are
struggling to pay their accounts |
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The Income-to-Debt Ratio has risen to 82%, which means that
for every R100 earned, R82 is spent on debt repayments, equating
to three weeks of every working month just to service debt. |
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7000 motor vehicles and 2000 homes are currently being
repossessed monthly |
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51% year-on-year increase in personal insolvencies |
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50 000 South Africans have applied for debt relief, 6 000 in
the last month alone |
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R16bn worth of home loan mortgages are currently at serious
risk |
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There has been an increase in resignations to access pension
fund contributions to settle debt |
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Research shows sharp increases in requests for salary
advancements and loans from employees |
Following the financial wellness assessment, Interface is in a
unique position to assist companies in developing a programme that
will address the specific financial concerns within their
organisation.
Education and training is a core part of the Interface
Financial Wellness Programme, followed up with on site meetings.
By offering a selection of carefully designed workshops, Interface
can assist in educating and training employees on a variety of
financial solutions.
The onsite workshops are supported by electronic course material
for staff members who are unable to attend a workshop for any
reason.
Our unique 8 Week Financial Wellness Programme has transformed
many lives as employees change their financial lifestyles on their
journey with us, with the ongoing support of face-to-face
consultations, email and sms technology.
