The number of South Africans who are planning to either save 'the same or more' over the next six months has decreased from 92% to 70% over the last six months according to a survey by MasterCard on consumer purchasing priorities.

These figures suggest that people feel that there will be less available to save over the next six months. While perhaps not always actualised, people generally aim to save more than they currently do and the only reason people would reduce the amount they plan to save is if they know there is no money to save. This was highlighted by the survey's findings that 83% of the same consumers confirmed that they were uncertain about the economy. If they were saving it was for 'precautionary measures'.

On a more positive note just under half (47%) of the survey respondents who are planning to save 'the same or more' said 'retirement' is their top reason for saving which is a 10% increase compared to the preceding six months, followed by 'investments' at 35%.

In recognition of July being Savings Month we have provided tips to our readers to find that little bit of extra cash to help them keep saving.

Kind regards
Steven Braudo
Chief Executive Officer. Liberty Retail SA

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Weekly Economic Updates
The Weekly Focus is a commentary on markets, the economy and investments prepared by Paul Hansen and Kevin Lings of STANLIB. You can read the latest developments every Tuesday by following the link on www.liberty.co.za.

Investment Portfolio Updates
Investment portfolios offered by Liberty: performance, risk profiles, asset allocation. Click here

Online Policyholder Servicing
Download tax certificates, view policy values and other information, update your details. Click here

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