This year SASI embarked on an aggressive and collaborative campaign with all Financial Practitioners and Development Financial Institutions to take the message of saving including basic financial planning skills to learners and all consumers alike. A number of initiatives were conducted across the country to relay this message including Teach Children to Save, Media Broadcasts, Workshops & Seminars.
- Breakfast Launch on 06 July 2009 at the IDC Auditorium
- TCTS Week:
- SASI/ERSA Savings Workshop 04 – 05 August 2009
- Financial Literacy Seminars
- Public Relations report (PDF doc – 309 KB)
- Savings Month 2009 report – low res for web viewing (PDF doc – 2 MB) or high res for printing (PDF doc – 5.2 MB)
Summary of Activities:
|1.||Pre-Cursor Media Campaign
||30 June 2009|
|2.||Launch of Savings Month & unveiling of the month’s activities
||06 July 2009|
|3.||Teach Children to Save SA (TCTS SA™ 2009)
||20–24 July 2009|
||01-10 August 2009|
|5.||Savings Workshop (SASI/ERSA)
||04-05 August 2009|
Saving under a Financial Crisis
“Savings are most certainly crucial to our future. So don’t let the Credit crunch cramp your future. You can still make an effort to save and avoid compromising personal wealth accumulation and capital investment. Whereas the credit crunch is a reality, it is temporary while saving is long-term. Thus, we may have to adjust our spending patterns and remain focused on the long term goal to increase our savings rate. This focus will also help the country recover faster from the current financial downturn. With households contributing a dismal -0.3% (2009) towards a gross savings of 15%(2009) while debt levels stand at whooping 75.3%(2009) of disposable income, it is obvious that this combination of lower savings and growing household debt has the tendency of increasing household vulnerability. Understanding the reasons for the continued deterioration in personal savings and promoting a savings culture amongst all South Africans remains a key objective of SASI”. These were the opening words of Dr Sheshi Kaniki, Deputy Chairman of the Institute for the 2009 Savings Campaign.
Previously, the Institute called on South Africans to put on their savings shoes and ride the rainbow to reach the proverbial Pot of Gold. Realizing that more and more people’s expenditure baskets continued to be dominated by consumption, SASI was inspired to tell South Africans, “Tighten your Savings Belt“. Given the prevailing economic circumstances, we feel South Africans need to tighten their savings belt by spending wisely in order to come out of the credit crunch that could wipe out their incomes in the absence of a savings plan. This is in light of the savings trend, that’s still dismal, added Dr Sheshi.