Nearly Half of Salary Earners Struggle on Payday, SA Relates

• Statistics revealed that South Africans who earn salaries are left with less than R1000 by the next payday
• The statistics also revealed that 28% of those earning a salary also struggle with a negative bank balance
• South Africans bemoaned the cost of living and called for the government to be merciful

Tebogo Mokwena, a dedicated Briefly News current affairs journalist, contributed coverage of international and local social issues like health, corruption, education, unemployment, labour, service delivery protests and heritage in South Africa during his seven years at Daily Sun and Vutivi Business News.

JOHANNESBURG — A report released by Standard Bank revealed that South Africans who get paid salaries struggle to reach payday with money in their bank accounts.

Salary earners struggling to make ends meet

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According to eNCA, Standard Bank revealed that almost 50% of citizens who earn salaries have negative bank balances or less than R1000 by payday. 21% are left with R1000 or less by payday, while 28% are in overdraft. This is because of the increasing costs of living caused by high food prices and inflation rates.

South Africans make suggestions

Netizens on Facebook discussed what could be done to alleviate workers' financial burdens.

Tshilidzi Manavhela said:

"Reduce the marginal tax rates for incomes. The tax is too high. Interests are also very high."

Melanie Ivy O'Brien said:

"Well, if they stopped putting up the fuel prices, the cost of food and travel would remain constant."

Jez Mukhwevho said:

"Income tax is too high. That's one of the reasons why."

Nare Mokobane said:

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"In fact, the last week of the month is called injury week. Next week's extra two days are called extra time."

Khathutshelo Mulaudzi said:

"South Africa must reduce income tax brackets."

Lucas Makobe said:

"Life goes on. We earn peanuts and not salaries."

Miochelle Hean Bosch said:

"Cost of food, fuel and taxes are ridiculous."

Petrol prices going down, food remains costly

In a related article, Briefly News reported that South Africans complained that fuel prices were decreasing, but food prices were not decreasing.

Petrol dropped twice in October 2024, and netizens complained that food prices remained relatively high.

Source: Briefly News