On the upside many have come to appreciate the value of saving after being tossed into a whirlwind of uncertainty by the pandemic. Moneyweb investments finance personalfinance
South Africans looking for greater financial returns are now buying into riskier investments – some even going as far as gambling – to deal with mounting financial pressures, according to the Old Mutual Savings and Investment Monitor released on Wednesday. The report, which has come out during National Savings Month, indicates that gambling is now seen by some South Africans as one way to make ends meet.
Read: Inflation: What it is and how it affects you Adding to the financial picture for South Africans is the finding that 52% of respondents have reportedly dipped into their savings, while 40% admitted to borrowing money from friends or family just to be able to make ends meet. Unfortunately, there seems to be no end in sight for cash-strapped consumers, with the South African Reserve Bank expected to announce further interest rate hike on Thursday.
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