The Science Of ... , Evergreen Content

Why we save (or don’t save) and what we're cutting back on (it's NOT Dstv!)

People are cutting back on holidays, entertainment, clothes and shoes as well as beauty and hair. They’re also cutting back on armed response.

Lynette Nicholson

People aren’t cutting back on DSTV and M-Net.

Lynette Nicholson

It’s not only black youth that take care of their parents. It’s becoming universal in South Africa.

Lynette Nicholson

The Money Show’s Bruce Whitfield interviewed Old Mutual Research Manager Lynette Nicholson for his weekly “The Science Of” feature.

Nicholson discussed the science of our savings behaviour.

Scroll down for quotes from the audio below.

We estimate R50 billion are in stokvels.

Lynette Nicholson

We see a large decline in people helping family.

Lynette Nicholson

Contractual savings have a better result.

Lynette Nicholson

About 40% of working urbanites don’t have a pension fund or retirement annuity.

Lynette Nicholson

South Africans under 30 – about 75% of them – expect they’ll have to take care of someone in future.

Lynette Nicholson

South Africans want instant gratification.

Lynette Nicholson

How early you start saving is key.

Lynette Nicholson

Generations Z is saving for the latest electronic device. The mind-set is ‘I want the best now’.

Lynette Nicholson

6% of South Africans can retire comfortably.

Lynette Nicholson

You don’t have control over the markets. But you do have control over how much you save and for how long you save.

Lynette Nicholson

Fewer households are saving.

Lynette Nicholson

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Article brought to us by Old Mutual.

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