Saving is very challenging for most South Africans. Spending money is what we all prefer to do. Too often, we spend beyond our means by using credit that we often cannot afford to repay.
Statistics released by the South African Reserve Bank (SARB) last year confirm that South Africa has one of the worst savings rates in the world. South Africans don’t save for unforeseen expenses and neglect to plan adequately (if at all) for their retirement.