Creating a Debt Free Generation
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Financial literacy plays a critical role in making informed financial decisions. In our second episode of the Old Mutual Thought Leadership Podcast Series, Arabile Gumede speaks to the Director General of National Treasury, Dondo Mogajane about creating a debt free generation.
Chapters
- 00:24 Intro: Indebtedness in South Africa
- 01:43 How do we start to move away from a perpetual cycle of debt?
- 03:29 What role can National Treasury play in financial education?
- 04:44 Is there a reason for National Treasury advertising retail savings bonds less?
- 06:39 How do we entice people to retail savings bonds?
- 09:40 Is the high debt to GDP due to the low savings environment we have as consumers, or because of our finances as a country?
- 11:38 Do we need more regulations in place, or to create better behaviours?
- 16:13 Are service providers doing enough against indebtedness?
- 18:20 Examples from National Treasury about alleviating indebtedness
- 21:16 Talking about generational wealth and black tax
- 23:45 What can we put in place to change mindsets?
- 27:26 The importance of thinking about the financial wellbeing of tomorrow
- 29:50 A challenge to National Treasury to focus on financial education
- 33:30 Closing Summary
