• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Hide the credit card

Nov 11 2011 07:40 Sapa

Related Articles

Steady rates give consumers relief

SA consumers cautious, bargain hunting

Walmart uses apps to target shoppers

Retail sales surge bodes well for sector

Retail sales growth picks up

CPI, retail sales data dim rate cut hopes

 

Johannesburg - Consumers should spend their money wisely over the festive season, the SA Savings Institute (Sasi) said on Thursday.

"We are asking South Africans to take a sober assessment of their expenditure during this festive season," Sasi chairperson Prem Govender said in a statement at the launch of Sasi's festive season savings campaign.

She said there was increasing concern about consumers' short-sightedness about saving, which was compromising South Africa's long-term savings and investment.

"With our country's gross savings rate averaging 15% over the past decade, it's not surprising that investment as a proportion of GDP (gross domestic product) stood at 19% in 2010, when at least 25% is required to achieve and sustain high growth rates," she said.

Consumers' debt servicing, income and savings vulnerabilities had increased since Sasi's 2010 festive savings campaign.

"Of the 18.8 million (53.3%) credit active consumers, about 8.8 million (46.7%) have impaired records while more than 278 000 have applied for debt counselling," she said.

Govender encouraged consumers to budget for the festive season, to avoid buying on impulse and to resist "sale" signs, and to budget for next year's school requirements.

 
saving  |  money  |  consumers

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

10 most expensive cars In the world

This is car porn at its best!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...