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

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

Read More
How saving can make South Africa rich

How saving can make South Africa rich

Bruce Whitfield interviews Dr Adrian Saville, Professor in Economics at Gibs and Chief Strategist at Citadel.

How I manage to invest a third of my income (despite earning peanuts)

How I manage to invest a third of my income (despite earning peanuts)

I earn peanuts, yet I’m slowly (but surely!) on my way towards never having to work for money ever again in my life.

How investing a third of my salary every month is making me rich (and free!)

How investing a third of my salary every month is making me rich (and free!)

A supersaver explains how she managed to invest R2.6 million and turn it into a whopping R3.7 million.

What happens to your Retirement Annuity if your fund manager goes bust?

What happens to your Retirement Annuity if your fund manager goes bust?

Fund managers do from time to time go bankrupt. Here’s what’ll happen to your Retirement Annuity if yours does…

5 things you must do now if you plan on retiring in roughly 10 years

5 things you must do now if you plan on retiring in roughly 10 years

Warren Ingram, Financial Advisor at Galileo Capital, has these tips for anyone wishing to retire a decade or so from now.

10 reasons why this is BY FAR the best way to save for retirement

10 reasons why this is BY FAR the best way to save for retirement

Is there a single best way to build your wealth so you can retire with dignity? Yes, there is, despite costs and limitations.

Why you need a pension fund (or retirement annuity) even if you own a house

Why you need a pension fund (or retirement annuity) even if you own a house

Many people falsely believe they do not have to save for retirement because they own the home they live in.

4 beliefs about shares that keep you from growing wealthy

4 beliefs about shares that keep you from growing wealthy

4 popular, yet patently false, beliefs about stock market investing that's holding you back.

Popular articles
Driving lessons to be incorporated into SA school's curriculum

Driving lessons to be incorporated into SA school's curriculum

Spokesperson for Transport Minister, Dipou Peters, says learners will be given an opportunity to become good and safe drivers.

LISTEN: I paid for sound system from my own personal account - Phahlane

LISTEN: I paid for sound system from my own personal account - Phahlane

Acting National Police Commissioner Khomotso Phahlane says he paid for his R80 0000 sound system at his house in Pretoria.

Public servants to have their red carpet moment at SA politician awards

Public servants to have their red carpet moment at SA politician awards

The brains behind the South African Politician Awards denies that he is hosting the event to rub shoulders with political bigwigs.

Madonsela warns against appointing woman President as a proxy

Madonsela warns against appointing woman President as a proxy

Former Public Protector Advocate Thuli Madonsela addressed the Cape Town Press Club on a number of issues.

Lumka Oliphant sorry for insulting women while defending Minister

Lumka Oliphant sorry for insulting women while defending Minister

Minister Bathabile Dlamini's spokesperson says people should stop spreading lies that minister drinks alcohol.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Meet Chuma Somdaka, a homeless artist who blogs about art

Meet Chuma Somdaka, a homeless artist who blogs about art

Chuma spends her days making art and her nights on a bench in The Company's Garden in Cape Town where she displays her artwork.