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Most South Africans are broke by mid-month

JOHANNESBURG – Most South Africans are broke by mid-month.

This is according to a survey commissioned by Tyme Bank.

The survey was conducted by World Wide Worx.

READ: Where do South Africa’s wealthy spend their money?

It says while many do have a budget 76% of those surveyed still run out of money before the end of the month.

According to the study, women are the hardest hit and this is because they take care of their children and families.

“Expected to take care of their children as well as other family members, the survey reveals that 59% of women run out of money before the end of the month, compared to 56% of men. Black women are the most likely to do so (64%),” said the report.

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