[LISTEN] Why financial literacy is crucial

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Zanele Zama

181 days ago
[LISTEN] Why financial literacy is crucial © milkos/123rf.com

Certified financial planner Paul Roelofse says people need to make money and understand how to make money work for them.

A recent Sanlam survey showed that 45% of South Africans report spending more money on food since the pandemic’s start, with several reporting an increase in takeaways.

The survey also showed that debt, credit card concerns feature prominently, alongside paying off a bond, an inability to save and no emergency fund.

Speaking to Refiloe Mpakanyane, Roelofse talks about the importance of financial literacy.

I think that the starting blocks are already set in the sense of getting people to really appreciate and understand how money works.

Paul Roelofse, Certified Financial Planner

Last week we had the repo rate with the Reserve Bank. If you put that in the realm of ordinary South Africans, I wonder how many understand how interest rates affect their livelihoods.

Paul Roelofse, Certified Financial Planner

Paul Roelofse, Certified Financial Planner

Listen to the full interview below...

This article first appeared on 702 : [LISTEN] Why financial literacy is crucial

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