July 2022 Debtfree Issue
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NATIONAL (NOT) SAVING MONTH<br />
IT IS NOT<br />
SUSTAINABLE<br />
When DebtBusters did the math, and asked about<br />
these 14 000 consumers situation, they found that<br />
the financial situation of 60% is getting worse, and is<br />
not sustainable. They are headed for a crash and need<br />
serious help in making a sustainable plan immediately.<br />
In other recent research from DebtBusters, it revealed that inflation is<br />
growing faster than salary increases. This means that consumers are<br />
losing buying-power each year.<br />
They found that consumers lose about 5% of their buying power each<br />
year. So over the last 5 years, consumers effectively have to get by on<br />
75% of what they had back then, but with all the same obligations.<br />
This can be especially hard for those in debt review who are working<br />
according to a very tight budget and cannot use credit to plug any gaps.<br />
The research shows that employees are dissatisfied with increases<br />
and according to DebtBusters, 25% are looking for better paying jobs,<br />
and plan to leave their employer if they can find something suitable.<br />
Both practices say their research shows, that consumers are too<br />
stressed by their growing debt and the increasing cost of living to<br />
prioritise saving, most simply cannot save at all.
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