There is no doubt that South Africa is facing a savings crisis. Our savings statistics show that on average households are actually “dis-savers” – drawing money out of the economy rather than investing in it.
On an individual level this is worrying, but on a national level it can lead to a crisis. Without savings to invest in developing our economy, our country is forced to borrow abroad and rely on foreign savers – which becomes even more precarious considering we remain on watch for a downgrade in December.
Starting a household savings culture doesn’t require a great deal of money – it requires saving, rather than spending, a couple of hundred rand a month.
World markets and currencies have reacted to the UK’s decision to leave the European Union and Prime Minister David Cameron’s intended resignation, resulting in a lot of speculation and uncertainty. What does this mean for investors?
If you are a member of the Own your life Rewards programme you should by now have received notification that we are winding down the programme which will be discontinued next year on 31 March 2017.
The information contained in this communication, including attachments, is not to be construed as advice in terms of the Financial Advisory and Intermediary Services Act of 2002 ("FAIS") as the writer is neither an appointed representative of Liberty, nor a licensed financial services provider as contemplated in FAIS. Please consult your financial adviser should you require advice of a financial nature and/or intermediary services.
