Households financially healthier than in 2015, but ...
The deteriorating economic climate does not bode well for South Africans’ financial well-being this year and next. reports
SOUTH African households in were in a healthier financial position last year than in 2015, but we have a long way to go in educating and empowering ourselves, and our economy needs to pick up considerably, before we can begin considering ourselves financially well as a nation.
This is an underlying message in the report that accompanied the release last week of the Momentum/Unisa South African Household Financial Wellness Index for 2016, which rose to 67.3 from 66.3 in 2015.
Professor Carel van Aardt, who heads the Household Wealth Research Division of Unisa’s Bureau of Market Research, is largely responsible for producing the index. He says that although the index, which refers to 2016, is up, South Africa’s economic situation this year has deteriorated, and this does not bode well for South Africans’ financial health this year and next (see “Gloomy forecast despite index rise”, right).