Can lower fuel prices and repo rate improve nation's poor pockets?

Lower fuel prices and a lower repo rate can help to improve the poor state of the nation's pockets, but they will have to approach their finances differently to make these reductions work for them.

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South Africa is infamous for the worst savings rates in the world, with a multitude of surveys telling us it is difficult to save when you cannot make ends meet while struggling to pay off debt, says Cheslyn Jacobs, chief commercial officer of TymeBank.

"After years of unrelenting financial pressure, our customers had to become financially disciplined and resourceful," he says.

"This will make it easier for them to get back on their feet when things start to improve, helped by the drop in fuel prices and what we hope is the first of several interest rate decreases."