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Financial Planning Institute leads industry in marketing the importance of financial planning
by Madeleine Coetzee - Thursday, 28 November 2013, 03:41 PM

Article written by: Financial Planning institute of Southern Africa

25 November 2013, Johannesburg – The levels of consumer indebtness in South Africa appear to be at alarmingly high levels, consumer debt is currently standing at R1.2-trillion, up from just R300-billion in 2002.

Statistics recently released by the Reserve Bank show that household debt as a percentage of disposable income is at a worrying 76 percent. This has eased somewhat from a high of 80- percent, reached in late 2008. On the face of it, South African consumers have heaps of debt to manage, with most of their disposable income going into servicing it – so just how do they get out of it?

In aid, - FPI along with the broader financial services industry will use the upcoming Financial Planning Week, from 25 November to 29 November 2013, to introduce financial planning to consumers as a way of improving their finances.

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