INSIDE YOUR POCKET – Women are borrowing money for daily living expenses, not to acquire assets, says expert
Loading player...
GUEST – Grant Heyman, Marketing Coordinator of National Debt Advisors
South African women are more at risk of becoming indebted over rapidly depreciating assets than their male counterparts. To commemorate International Women’s Day, National Debt Advisors, one of the leading debt counselling companies in South Africa, shared findings from a recent assessment of their female client base to highlight the financial challenges faced by women in the country.
“At 36% of our entire client base, women are significantly less indebted than males, however the type of debt that they have is mostly unsecured debt,” says Grant Heyman, Marketing Coordinator of National Debt Advisors. Heyman explains that more than 99% of their female clients have unsecured debt, 80% have personal loans and almost 50% have credit card debt. “This is interesting to note as it speaks to how women primarily borrow for day to day living expenses as opposed to acquiring assets like their male counterparts,” says Heyman.
South African women are more at risk of becoming indebted over rapidly depreciating assets than their male counterparts. To commemorate International Women’s Day, National Debt Advisors, one of the leading debt counselling companies in South Africa, shared findings from a recent assessment of their female client base to highlight the financial challenges faced by women in the country.
“At 36% of our entire client base, women are significantly less indebted than males, however the type of debt that they have is mostly unsecured debt,” says Grant Heyman, Marketing Coordinator of National Debt Advisors. Heyman explains that more than 99% of their female clients have unsecured debt, 80% have personal loans and almost 50% have credit card debt. “This is interesting to note as it speaks to how women primarily borrow for day to day living expenses as opposed to acquiring assets like their male counterparts,” says Heyman.
