“Apply for Debt Review”: Mzansi Surprised After Man Shows Less Than R500 Net Pay After Deductions

• A local man shared a glimpse of a payslip showing that he received less than R500 after deductions
• The deductions included a home loan from a bank, garnishees, medical aid and other companies he had to pay
• While some social media users felt sorry for the man, others advised what his next step should be
• Briefly News contacted a financial advisor who explained how the man could see more money in his account after deductions

For many working South Africans, it can be a downer to watch a portion of their salary disappear due to deductions. In one unfortunate case, a man showed he was left with less than R500 after paying other necessary costs.

Going, going, almost gone

Sbongiseni Mdima shared a screenshot of his salary after deductions on his TikTok account (@sbongiseni_mdima). However, he did not show his gross pay.

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Besides the usual deductions, the man showed that it included his FNB home loan, medical aid, garnishees, and a fee for a financial services company called Letsatsi.

Take a look at the deductions in the picture below:

Financial advisor speaks on man's salary

Walter De Wet, a financial advisor with Mzingisi Brokers, shared with Briefly News how Sbongiseni can see more money in his account after deductions:

"Very little can be done to increase his net pay. However, an option is to look at what deductions can be stopped and do so. For example, deductions from the FSP. This can be implemented again once his financial situation stabilises."

Mzansi reacts to low net pay

Many social media users went to the comment section to share their thoughts on what the man should do about the deductions. Others expressed how unfortunate it was for him to take home less money than expected.

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@right_funani shared in the comments:

"Being employed can be like being in jail, especially when you can't manage the little you earn."

@oarabilethati3 said to Sbongiseni:

"Apply for debt review. You will be alright."

@amakaawande had a different opinion, saying:

"No, don't apply for debt review. It will leave you without power over your own bank account. Go to a basic medical aid. Try to deal with Letsatsi and Ekadosini. Maybe a consolidation loan that will reduce the amount you're paying, but the term and interest will be more."

A confused @goodie141 added:

"That payslip isn't make sure."

@christo.vos wrote in the comment section:

"It's better to start a small business on the side. What are you going to buy with R460? You can't even get to work every day with R460."

@sabzangubane53 told the online community:

"I’ve seen payslips like this when I was a financial advisor. It’s real and very sad."

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Woman shows confusing pay after deductions

In another article, Briefly News reported about a young woman who took to TikTok to show her payslip after tax deductions.

People on the internet could not believe her net pay and asked the woman to check her tax code.

Source: Briefly News