WHAT’ S M I S S I N G F R O M ED­U­CA­TION IN SOUTH AFRICA

Finweek English Edition - - MONEY -

In last week’s ( The most im­por­tant fi­nan­cial ar­ti­cle you will ever read, 28 Fe­bru­ary), it was ar­gued that the most im­por­tant thing miss­ing from our kids’ ed­u­ca­tion is an un­der­stand­ing of com­pound in­ter­est, dis­counted cash f lows and inf la­tion. It’s hard to ar­gue with that. How­ever, I would add one more item to the list – how to set up a bud­get.

I saw it f irst-hand. An in­abil­ity to bud­get prop­erly can wreak havoc i n your f inan­cial life. In fact, it forms the foun­da­tion of your f inan­cial life. If you get it wrong, you will for­ever be at the mercy of loan sharks, banks and credit bu­reaus.

This rolls up at the macro-level. We see it in the ap­pallingly low sav­ings rate

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