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.


Recommended

by NEWSROOM AI
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
Medical aid premiums are set to increase in 2019

Medical aid premiums are set to increase in 2019

The submissions are currently with the Council for Medical Schemes for consideration.

Assisted suicide activist facing murder charge released on bail

Assisted suicide activist facing murder charge released on bail

Eyewitness News reporter Shamiela Fisher gives a summary of the court proceedings for Sean Davison.

The weed debate continues

The weed debate continues

Callers on the Eusebius McKaiser Show discuss the ConCourt's ruling to decriminalize dagga.

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

International law enforcement expert and former Drug Unit Commander Lobo das Neves says ruling opens a different can of worms.

Comair reports record earnings, 72nd profitable year in a row – a world record!

Comair reports record earnings, 72nd profitable year in a row – a world record!

Recession, soaring fuel costs and surplus capacity - yet profits keep coming! Bruce Whitfield interviews Comair CEO Erik Venter.

'Let’s tax this thing and make money out of it!'

'Let’s tax this thing and make money out of it!'

The Money Show's Bruce Whitfield interviews Jeremy Berke (Business Insider) and Unathi Henama (Tshwane University of Technology).

Basic Education to introduce Kiswahili and coding to SA's curriculum

Basic Education to introduce Kiswahili and coding to SA's curriculum

Basic Education spokesperson Elijah Mhlanga spoke to Joanne Joseph on the Afternoon Drive to elaborate.

ConCourt rules dagga legal for private use, but what is private?

ConCourt rules dagga legal for private use, but what is private?

Associate Professor of Law at Wits University James Grant says the ConCourt did not define what private use was.