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<\/a><\/p>\nPaying bills<\/strong><\/p>\n In South Africa, 66% of Millennials in the survey have dependent children living at home, compared to 48% for other generations.<\/p>\n Millennials who have seen their household incomes negatively impacted also are having more pronounced problems with certain debt obligations.<\/p>\n Of consumers who are concerned about paying their bills, 45% (down marginally from 46%) report\u00a0 that they will not be able to pay their utilities (electricity, water, etc.), 45% (up from 42%) will not be able to make\u00a0 their rent repayment and 38% (down marginally from 39% last week) report that they will not be able to pay\u00a0 their mobile phone bill.<\/p>\n \u201cMillennials are the first generation to be fully immersed in mass-market digitalisation and are savvy at securing credit,\u201d said Carmen Williams, director of research and consulting at TransUnion South Africa.<\/p>\n \u201cWhile Gen Z can say the same, the big difference is that many Millennials are more settled in their careers and are beginning to approach the peak earning period of their lives.\u201d<\/p>\n Game plan<\/strong><\/p>\n A greater percentage of consumers financially impacted by the pandemic have reached out to companies\u00a0 they have accounts with to discuss payment options (45% of consumers compared to 40% in\u00a0 week one).<\/p>\n More than a third (35%) of respondents said they planned to use their savings to pay current bills\u00a0 -up significantly from 29%.<\/p>\n A smaller number (22%) said they would borrow money from a friend or family member.<\/p>\n A quarter of respondents said they do not know how they are going to pay their bills or loans (down from 27% in week one) and 32% will only pay a partial amount that they can afford.<\/p>\n<\/a><\/p>\n