Financial confidence grows despite economic challenges according to Old Mutual
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GUEST – John Manyike, Head of Financial Education at Old Mutual
Despite ongoing economic challenges, South Africans are showcasing remarkable financial resilience and adaptability, driven by increased confidence in their ability to save and invest.
According to the latest Old Mutual Savings & Investment Monitor (OMSIM) 2024 survey, financial stress among working South Africans has significantly decreased. The percentage dropped from 58% in 2020 to a reassuring 37% in 2024. Moreover, 68% of employed South Africans are optimistic that their financial situation will improve in the next six months, up from 53% in 2020.
Despite ongoing economic challenges, South Africans are showcasing remarkable financial resilience and adaptability, driven by increased confidence in their ability to save and invest.
According to the latest Old Mutual Savings & Investment Monitor (OMSIM) 2024 survey, financial stress among working South Africans has significantly decreased. The percentage dropped from 58% in 2020 to a reassuring 37% in 2024. Moreover, 68% of employed South Africans are optimistic that their financial situation will improve in the next six months, up from 53% in 2020.