WATCH: Side hustles on the rise as SA struggles to save

Saving money, or the “saving habit”, is the foundation of all financial success. Having money saved is what provides the means for you to take advantage of situations, whether it’s going back to study and upskill yourself, starting a new business, or buying shares when the market crashes.

As a nation SA has always had a relatively low savings rate. The national savings rate is the GDP that is saved rather than spent in an economy. It is calculated as the difference between a nation’s income and consumption divided by income. And it’s a vital indicator of a nation’s health as it shows trends in savings, which lead to investments.

But how do people save when petrol has risen almost 50% in one year, and food prices have shot through the roof, not to mention your utilities bill? As we wrap up savings month, we’re going to dig into some of the findings from the annual Savings and Investment Monitor published by Old Mutual, which always provides a useful dipstick for the national savings mood.

Joining Michael Avery for this discussion is John Manyike, head of financial education at Old Mutual and Nerina Visser, independent ETF strategist and past president of CFA SA.

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