June 2022

South Africans have always had an entrepreneurial spirit.

But now, even more than before, they need to make alternative sources of income.

Yesterday Stats SA announced South Africa’s inflation rate to be 7.4%. The highest recorded in 13 years.

Top increases from June 2021 vs June 2022:

• Fuel: +45.3%

• Oils and fats: +32.5%

• Electricity: +14.5%

• Public transport: +14.3%

• Bread and cereals: +11.2%

What it means:

Lower-income South Africans are a lot poorer now than 1 year ago - the above are a much higher proportion of their salary compared to wealthy South Africans.

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We did a survey last year and found that 175 (29%) of the 600 respondents had a side hustle. A lot!

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More South Africans are going to have to "Side-Hustle" to stay out of poverty.Here are some of the things South Africans are doing to make additional income.