Poor financial decisions can have a long-lasting impact on individuals, their families and society. The causes of the recent financial crisis were complex, but the lack of financial literacy was certainly one of the aggravating factors leading to ill-informed decisions on home loans. Low levels of financial literacy have also been associated with a lower standard of living, decreased psychological and physical well-being and greater reliance on government support.
Financial education can make a difference. It can empower and equip people with the knowledge, skills and confidence to take charge of their lives and build a more secure future for themselves and their families. Supporting financial education can be viewed by the main public, private and civil stakeholders as a critical long-term investment in human capital.
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I have had to manage my own budget fairly tightly since the first hard lock down started a year ago. With a few months of zero income and being forced to spend my savings, I knew what i needed to do first to make sure I was not spending more than I earned. I relooked […]Read More
South Africa is a buy-now, pay-later society. The effects on young people’s financial literacy are thus characterized by the same behaviour patterns as parents and society as a whole. These are high credit and high consumer behaviour with very little savings, and in turn high social risk behaviour. MSK is working to change this disastrous […]Read More
“Growing your wealth” seems to be the new buzz word around town. Most financial institutions are trying to educate “the man on the street” about investing and trying to get them to use their platforms. That’s how easy investing has become. There are online platforms you can start to use to trade shares, bonds, ETF’s […]Read More