Neil Roets, CEO at Debt Rescue, says Brexit means bad news for SA because SA has many trade agreements with the European Union (EU).
Britain's decision to leave the European Union, a victory for the populist cause, may be a defining moment for Britain and the European project.
On Friday, it sent shares and the sterling currency sharply lower amid warnings of damage to the economy.
Roets says things have to be re-negotiated with the United Kingdom (UK).
At the end of the day, everything will cost money, petrol will go up and basic goods and services.— Neil Roets, CEO at Debt Rescue.
Asked how people can manage their debt, Roets says people should draw a budget and stick with it.
Make provisions for things that may come unexpectedly. Make a difference between things you really need and those that you don’t need.— Neil Roets, CEO at Debt Rescue.
This article first appeared on 702 : How the Brexit outcome will affect SA