Joburgers talk finances: "Even with a job I'm struggling to survive the month."
74 days ago
One in four People do not have enough money saved to cover more than two months of expenses, according to a recent poll. And another one in four don’t actually have a dedicated saving account at all.
Here's what the #FreshOn947 team asked Joburgers...
If you lost your job right now, would you be able to sort yourself out come month end? And how long would you be able to stay afloat for before you’re searching the couch for change?
With a heavy heart, DJ Fresh mentioned that there's a stat that says the average South African is one paycheque away from bankruptcy.
Most people don't have enough money to save for emergency situations because every cent is accounted for.
The team asked each other and the rest of Joburg how long they would survive if they lost their job and had to live off their savings.
I could survive about 6 months.Mantsoe, #FreshOn947
All I have is policies. I would have to cause an accident. I would have to lose a limb. Being a young kid with my salary I would need to go back to Benoni.Shannon, #FreshOn947
Here's what Joburgers had to say...
It has happened to me twice in the span of one year. A month in to one of the jobs they told me that the company is closing down. It was a shock, I survived about a month, got a new job and then it happened again. The company started retrenching and the company had to close down. Credit Card roulette is something I play. Without my Credit Card I would only be able to survive about a week.Steve, #FreshOn947 caller
I would survive about two years. I saved a lot and spent a little... I started saving in 2010 when I started working and my grandmother told me to save a part of my paycheque.Anonymous, #FreshOn947 caller
What is savings?! It's ridiculous how tight things are at the moment! Working 7 jobs at the moment to make ends meet.Voicenote sent to #FreshOn947
I would probably last an hour,Voicenote sent to #FreshOn947
Even with a job I'm struggling to survive until month end.Voicenote sent to #FreshOn947
This is a reality check on how expensive life is!Mantsoe, #FreshOn947
Here's what users on social media had to say...
Listen to the full audio below and download the podcast...
Here are some tips on saving...
- Making the most of pocket money - why it's important
- Pocket money: From what age? How often? How much?
- Pay less tax – sneaky yet legal tips and tricks
- 5 retirement saving tips for those who left it late
- Need some help with your 2020 personal finance goals?
Catch the #FreshOn947 team every weekday from 15:00 - 19:00 on 947.The sound of incredible music to keep you company, his signature laugh and a team of absolute gems. Fresh, alongside his team Mantsoe Pout, and Shannon.