Savings Month 2012

July is National Savings Month

breakfast launch 2012After 10 years of advocating for a culture of saving, South Africans still battle with managing their finances. It’s time for change! This year SASI is urging consumers to proactively take charge of their lives. As the Minister of Finance pointed out during SASI’s 10-year anniversary, an entrenched savings culture means South Africans must develop an attitude of saving for major expenses and goals, instead of relying on easy credit and long repayments to purchase whatever luxury good seems desirable at the time. Consumers need to go beyond what we term “necessities” in terms of the role of savings. This means that we need to change our mindsets about savings and financial health in general!

In his 2012 budget speech, the Minister outlined government strategy to introduce tax-exempt short and medium term savings products, to encourage more consumers to manage their levels of debt and develop a strong culture of savings. SASI welcomes this strategy and is encouraged to pursue its mandate even more aggressively.

In lieu of the above, SASI will launch its traditional July National Savings Month Campaign on 04th July 2012 to remind consumers that the power is in their hands to either strive for financial freedom or remain continuously vulnerable. Economic challenges are part of the norm which households must learn to incorporate them in their per-period plans, so as to the negative impact associated with them. Thus the theme for this year’s National Savings Month campaign is “changing mindsets towards financial freedom: Save now”.

Launch speeches and press releases:

National Savings Month 2012 campaign overview