Can you handle a full 1% rate hike?

Question

There is talk that Tito wants to incease by a 100 bases points.

Tighten the belt people settle your credit cards.

Do not buy a new car or a new house.

Answer 1

Yes, for now, but I really don't want to have to.

2% would hurt, fortunately I work in a field where if I need more money, I can always work longer hours and take on a few extra private jobs, doesn't leave much room for a social life though so I prefer not to.

Answer 2

100? I heard 200 on the news this morning. I hope not - we also have a mortage and it is really painful trying to keep up with all these hikes. I don't see how this is helping the economy - people have even less and less money to spend, but their needs are still the same - so gives them even more reason to buy on credit.  I am sure there are alot of people out there who do their grocery shopping on credit card because the prices have increased so d**n much. Plus the fuel increase all the time.......it is not looking good;-(

Answer 3

My only debt is my house at the moment, the rate hikes are killing me though.

The people with money in the bank are the ones that are smiling as they get better interest on their savings.

Share Prices are generally low at the moment now too - so if you have money to spare - I reckon it's a good time to buy shares now.

Add: Ayiza, I think Alf is refering to "Black Diamonds" ie a person probably like you who is a Black Middle to upper class person.

But I must agree with you Ayiza - it's not just our country - the whole world is facing tough economic times at the moment and our problem can not be blamed on any particular group in this country.

Unfortunately because the USA is such a powerhouse - everything spins off from them - They say "If the USA sneezes, the world catches a cold".

Answer 4

I'm dead meat.......hope he doesn't, I can't handle it......

Answer 5

My only debt is my car (which is fixed thankfully) and my credit card

But i am doing good at work and getting older so i want to be able to buy a house etc and at this rate i will never be able to

I am struggling as it is I am already cutting living cost what is next should i start to only bath or shower every second day just to safe more.

Answer 6

I hope my increase will compensate for. there goes my end of year holiday to Hawaii

Answer 7

You are going down the tubes and all those "black diamonds" i.e. incompetent natives employed because of their skin colour and racist laws will have to sell off their BLING. So much for your "booming Economy."

Ayiza - You dont need me "to fool you." The ANC is doing a very good job of that considering your displays of ignorance and backwardness on this Forum.