STEPHEN CRANSTON: Savings, what savings?
Most people aren’t saving enough and will be in trouble. But this year Covid-19 adds a different dimension
23 July 2020 - 05:00
As if the cold weather isn’t enough, July is also Savings Month. A bleak picture is painted of the saving habits of South Africans, and the most influential of these surveys is the "Old Mutual Savings & Investment Monitor". This is normally very predictable: most people aren’t saving enough and will be in trouble. But this year Covid-19 adds a different dimension.
The data is particularly fresh as it is based on 1,500 interviews which took place in the four weeks to June 23...
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