Old Mutual Savings and Investment Monitor – Low income earners spending more
Every year the Old Mutual Savings & Investment Monitor tracks the shifts in the financial attitudes and behaviour of South Africa’s working metropolitan population.
This year John Manyike, Head of Financial Education at Old Mutual, pointed out that low earners (households earning less than R6000 per month) are now spending about 79% of their income on consumption, the highest since the survey started.
But he added that several other factors also contribute to financial stress levels. “Factors such as lack of financial education and the way you relate to money. There’s no doubt these can also influence the level of financial stress you experience.”
Click here to download the 2018 results.