South Africa's National Credit Regulator (NCR) issued a consumer advisory for July’s Savings Month and Men’s Month, urging men to take tighter control of their finances by saving consistently and using credit responsibly as living costs rise. The NCR argues that even small, regular monthly savings can build resilience, help cover emergencies, and reduce reliance on high-interest credit, while better credit awareness can help consumers avoid debt traps and the stress associated with overindebtedness. The advisory highlights that expectations on men as “breadwinners” can contribute to overspending, living beyond means, and reluctance to seek help. Practical steps promoted by the NCR include knowing rights under the National Credit Act (NCA), asking questions before signing credit agreements, sticking to a budget and tracking expenses, requesting a free annual credit report, avoiding lifestyle inflation, using only NCR-registered credit providers and verifying provider credibility via the NCR website, avoiding scams promising quick income, seeking help for debt, gambling or addiction, and downgrading spending commitments where overindebted.
National Credit Regulator 2025-07-22
South Africa's National Credit Regulator urges men to build savings and be credit savvy amid rising living costs
South Africa's National Credit Regulator issued a consumer advisory for July's Savings Month and Men's Month, urging men to save consistently and use credit responsibly amid rising living costs. It emphasizes small, regular savings to build financial resilience and reduce reliance on high-interest credit. It also advises on understanding rights under the National Credit Act, sticking to a budget, and using only NCR-registered credit providers.