By Fundile Majola
South Africans are increasingly feeling the international credit crunch at the tills and at the petrol stations.
Proof to this has been the innumerable plans and announcementsby businesses to either downsize on staff, not being in a position to increase salaries according to legislated national standards, the thousands of home and car repossessions by banks and, lately, the annual festive season cash heists taking their toll.
IOL asked its readers what the global credit crunch has pressured them into doing, while having no choice.
Of the 260 readers who responded, a majority 48 percent [124 votes] said the crisis forced them to reduce eating out, while 27 percent [69 votes] are going on as usual, feeling nothing no pinch at all, 22 percent [56 votes] are asking their creditors for credit extension and, lastly, the remaining 4 percent [11 votes] said the pressure saw them pooling in cars.
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Below are a few of the comments given by the readers to substantiate their views:
Polar Bear wrote:
Bad luck Cheryl - you'll never get your opinions across to this lot. The poll is dominated by one person who likes to masquerade as many and who jumps down the throats of anyone who mistakenly has opinions that run contrary to hers. It's just funny to read the comments here and try to stay aloof - although it's very hard sometimes.
grysie wrote:
Eish. And now the taxman wants his pound of flesh. Eina Trevor! Now you really are pressurising my skinny wallet!
knersius wrote:
grysie, You've said it ! Draadkar at 2008-11-11 10:23:44 Join the moaners club:-) DSTV and ADSL is the only "luxuries" we can hardly afford, where in other countries these commodoties are seen as a right and not a privelage. Telkum is ffffffff. ==g us with our eyes wide open.
MML wrote:
My dear Cheryl, I am not rude, I am realistic! being born at the same age like Grysie WE ALREADY WENT THROUGH THE MOTION and we survived, no wealth whatsoever, but no debts or endless bonds either.
r. kiyosaki wrote:
luck has nothing to do with it. while the rest of the population is out having a good time, some are working. keep your eyes open, a recession is the biggest sale in the world! perspective! when times are good, do what others and even you do not want to do and reap the rewards. ps. if you owe the bank r1000 its your problem, if you owe them 1 mill. its their problem. the answer is financial education. teach the children and adults that credit is a tool to assist your salary and not a cool thing. think outside the box and come up with ways to aquire rather than cut down. work hard and smart. look at everyday situations where you can save- from the bedroom to the office and back. work smarter with hp(car , house) by making 2 payments per month still equal to the total, but see how the bank now calculates interest. learn to talk to your bank manager and help will be given. (they need us!) car pooling and less eating out should be natural, not an extreme measure. donate to a charity - it will come back to you, trust me
Matt B wrote:
To Cheryl, Please see my comments on how i am living, i have my teenage children in private school and my wife now doesnt need to work, why because i had to prioritize. I have just turned 40 so still have to work, but dont have the financial worries at the same time, BTW i also did a trip to UK for a month in July so as my dad used to say where theres a will theres a way. I do however know that there are people who maybe have one income and an average job and it is very difficult but a good budget helps.......... Grysie 10h15 ,,,,,,, we were all born at an early age, maybe you meant in the old days??
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