Momentum/Unisa South African Household Financial Wellness Index 2014 Prof B de Clercq 28 September 2015 Prof B de Clercq Debt Safari 20 October 2015.

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Presentation transcript:

Momentum/Unisa South African Household Financial Wellness Index 2014 Prof B de Clercq 28 September 2015 Prof B de Clercq Debt Safari 20 October 2015

Score update What determines financial wellness? A peek at the affordability guidelines Rules of the game

Score update

South African Household Financial Index: 2014 nationally representative sample of households

Why did our game improve? “keep calm and bat on”

Why did our game improve? “keep calm and bat on”

What determines financial wellness?

Types of capitals

Game changers

Strike rate categories

Introducing the players 4.3% of households

29.4% of households

38,4% of households

27,9% of households

Players’ update

A peek at the affordability guidelines

Distribution per affordable income groups

Guideline norms vs reality

1. Borrow from friends and family 2. Borrow from micro lender 3. Borrow from bank 4. Selling possessions 5. Working overtime Coping strategies 6. Pawning possessions 7. Selling house 8. Drawing from savings 9.Drawing from pension fund

Guideline norms vs reality: Financially Unstable

1. Borrow from friends and family 4. Borrow from micro lender 3. Borrow from bank 5. Selling possessions 2. Working overtime Coping strategies 7. Pawning possessions 8. Selling house 6. Drawing from savings 9.Drawing from pension fund

Guideline norms vs reality: Financially Exposed

1. Borrow from friends and family 2. Borrow from bank 5. Selling possessions 4. Working overtime Coping strategies 7. Pawning possessions 8. Selling house 6. Borrow from micro lender 9.Drawing from pension fund 3. Drawing from savings

Guideline norms vs reality: Financially Well

1. Borrow from friends and family 2. Borrow from bank 5. Selling possessions 4. Working overtime Coping strategies 9. Pawning possessions 8. Selling house 6. Borrow from micro lender 7.Drawing from pension fund 3. Drawing from savings

Summary of top 5 coping strategies

Thank you