How to improve your future

National Savings Month came just in time when consumers need advice to improve their financial future and build resilience as the economy struggles due to domestic and international geopolitics.

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More than 80% of middle-income South Africans have little or no emergency savings, with 27% having no accessible savings at all and over half holding less than a week's take-home pay in reserve.

At the same time, rising living costs, high inflation and stubborn unemployment are squeezing household budgets, says Zihaad Israfil, CEO of DFI Financial South Africa.

"However, small changes, from tracking spending to using free learning tools, can help every South African improve their financial future," he says.

"In an economic climate where rising costs affect millions, financial empowerment is no longer a nice-to-have, but essential."