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

Weekend Argus (Saturday Edition) - - FRONT PAGE -

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).

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