Tag: income

As a testament to the resilience and dedication of South African stokvel savers, we reveal that its customers' stokvel net deposits have increased by 42%. Since November 2019, our stokvel customers have continually increased saving via a stokvel surpassing the R8.3 billion mark in total member contributions.

With the increased cost of living, managing your money in your retirement years can be a challenging exercise for many. Running out of money during one’s retirement years is a prime concern for many retirees.  Although people have reasons to be concerned with the rise of economic pressures and the cost of living, consumers can lessen the risk of running out of money in retirement with proper financial planning and sound money management tools. 

South Africa’s long march away from economic freedom continues in 2023, Economic Freedom of the World (EFW) index reveals. The 2023 Economic Freedom of the World annual report reveals that South Africa has dropped to 94th, down one place from its ranking of 93rd last year, out of the 165 countries analysed.

In a world where more young people are unemployed than employed, it has never been more important to ensure our children’s future. Ultimately, you want to empower them to rise above their competitors in the race for the limited jobs that are on offer.

Taking control of your financial health through effective budgeting can be beneficial and liberating. By creating a budget and smartly managing your expenses, you can ensure that your hard-earned money lasts longer and works towards securing a prosperous future.

We have announced the findings of our inaugural Retirement Insights Survey, the first retirement research of its kind conducted by an integrated financial services provider in South Africa. Against the backdrop of widespread belief that South Africa lacks a savings culture, the survey unveils some reasons for disparities in retirement savings beyond apathy or income.

Tom Marsicano | CEO | and Change | mail me | Side hustle culture is here to stay! In the face of rising inflation, it’s...

A blueprint is emerging for online retailers in South Africa. Ahead of Amazon entering the local market, setting up a titanic battle for customers with market leader Takealot, a new study shows that there is not only room for new entrants, but also opportunity for growth for incumbents.

The proposed "two pot" retirement system would allow people to have the best of both worlds – early access to a portion of their retirement funds, should it be necessary, while still preserving a significant portion for when they retire. The changes are set to take effect on 1 March 2024, but without further draft legislation being published in February, there are concerns that industry players will not have time to implement changes to meet this deadline.

Stokvels are on the move: moving from villages to cities, from beneath mattresses into savings accounts and investment instruments. As they move and evolve, their potential for growth and their ability to create wealth increases.