Five practical ways to save Putting money into a savings account is not just for your own well-being – it can also have a massive impact on the economy as a whole.
I ‘m sure that many of us have looked forward to a salary increase or annual bonus so much that we just went ahead and shamelessly spent our money on all the desirables we’ve been looking forward to all year even before payday. Sobering is that moment when payday arrives without your expected salary increase or bonus during a time when the prices of necessities such as electricity and fuel are skyrocketing. Suddenly you find yourself staring at a negative bank or credit card balance, and the month has barely begun.
But don’t blame only yourself for your subjective judgment on spending habits – the entire South African economy has been heading down the same path for quite some time.
Local GDP declined by 0.7% for the first quarter of 2017, after declining by 0.3% in the last quarter of 2016, which means that we now officially find ourselves in a recession. After our downgrade to junk status earlier this year, the Reserve Bank, which normally would have lowered interest rates after such figures have been released, would have to think twice before taking action. So ultimately, things don’t look so good for the rest of South Africa.
Denne historien er fra 13 July 2017-utgaven av Finweek English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra 13 July 2017-utgaven av Finweek English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
THE HEALTH OF SA'S MEDICAL SCHEMES
As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.
The effect of Gilbertson's departure
With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.
Making money from music
Why investors are increasingly drawn to the music industry.
Conviction is key
Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.
The post-pandemic toolkit
How CFOs can use technology to support growth.
Big city living exodus
Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.
Big compact, big value
Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.
On barriers to entry
There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.
Fear and greed in one index
To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.
Africa's largest data centre facility coming soon
Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.