Monday, 6 June 2011

SA’s Debt Trap Widens


Half of South Africa's credit-active population is drowning in debt – evenmoneyaccountsIcon though  interest rates are at their lowest in 29 years.

47% of the 19 million credit-active consumers have impaired records. The debt to income ratio stands at 78.5%. This means that for every R100 each household earns, R78.50 goes towards servicing debt.

It is horrible that the only way to get a home is through debt. We as humans need shelter, food and other basic needs to survive and people are profiting from this exploitation.

In an Equal Money System we wont have to repay for the rest of out lives just to survive. We can stop the fear and start to live.

Let us consider an alternative system that provides for and includes everybody. Then we start with the REAL living of LIFE.