With South Africans having one of the lowest Household Savings ratios in the world, at just 0.6%, National Savings Month in this July provides a great opportunity for South Africans to consider their saving habits and how they can save more beyond this month.
Savings Month was launched in 2001 by non -profit organisation, the South African Savings Institute (SASI). It continues to receive industry-wide support, including from the Financial Sector Conduct Authority (FSCA).
In line with its legislative mandate to provide financial customers with financial education, the FSCA has launched a variety of programmes such as the Financial Literacy Speech Competition, Expanded Public Works Programme (EPWP), Youth Finance, Entrepreneurship and Job Opportunity Campaign.
In its latest national financial education initiative launched during Youth Month, the #FSCAMyMoney resource aims to provide South Africans from all walks of life with free online information that will improve their financial acumen, enabling them to make informed decisions when buying financial products and services.
Lyndwill Clarke, the FSCA’s Head of Consumer Education explains, ” It has become increasingly important for consumers to be properly equipped so that they can make sound decisions when it comes to managing their finances. They have had to navigate price increases in fuel, electricity and food, while overcoming the negative financial effects of the pandemic.
Consumers also need to keep in mind that as the economy gradually recovers, interest rates may rise over the short to medium term, making paying off debts even more difficult. Keeping to a budget and saving may have become more a challenge. “
“The good news is however that the #FSCAMyMoney provides an easily accessible and comprehensive guide to better manage your money. More and more consumers are visiting the site to help them budget and save for the important things like becoming debt free, opening up a business, paying for their child’s education or planning for their retirement,” added Clarke.
YOU are invited to visit the FSCA’s website (www.fscamymoney.co.za) to access a wealth of easily understandable and relevant free financial educational tips. They can also learn their rights and responsibilities when dealing with financial services providers.
- True grit and resilience happens at surrender | #LunchtimeCoaching | Kevin Britz | Cindy Alter | #Insight | #Podcast | #ebizradio - September 23, 2021
- How to reduce your digital impact | #BusinessInsight | Julien Fouriot | Crosscall | #ebizradio | #onlinebusinessradio - September 23, 2021
- Anti-corruption lawyer, author, singer – Rivoningo Maluleke | Entrepreneur | Word Of Mouth | Lindi Tshabangu | #onlinebusinessradio | #ebizradio - September 21, 2021
- Compound interest – The 8th wonder of the world | #Entrepreneur | #Finance | #Business | Björn Salsone | James Hemsley | #ebizradio |#onlinebusinessradio - September 21, 2021
- What is your cognitive bias? | #LunchtimeSeries | #Leadership | Kevin Britz | Naomi Basson | #onlinebusinessradio | #ebizradio - September 21, 2021
- Launch of Jelly Beanz and UNICEF-produced ‘Protect Children and Help them Heal’ resource booklet – Wednesday, 22 September 2021 at 13h00-14h00 | #ebizradio - September 20, 2021
- Clarion Events Africa evolves into the Vuka Group | #BusinessInsight | Business News | Vuka Group | #ebizradio - September 20, 2021
- Oryx Desert Salt bringing the heart of the Kalahari to WHOLE FOODS USA | Business News | #ebizradio - September 20, 2021
- South Africa still has great investment appeal | Business Insight | CMTrading | ebizradio | - September 17, 2021
- Closing the Gap of Gender Inequality in the South African Labour Market | Business Insight | Bryden Morton | Chris Blair | 21st Century | #onlinebusinessradio | #ebizradio - September 17, 2021