Among consumers with annual incomes of R300k - R500k, debt to disposable income was just over 100%. For those earning R500k - R750k, the level was 130%, and for those earning more than R750k, the level fell to just under 120%.
Source: Study conducted by the
University of SA’s Bureau of
Market Research in 2008.
Studies in the USA
show that changing employee’s financial behaviour is actually easier than changing their diet and exercise habits.
The result? Decrease in stress and related health-care costs.
Most employees agree that January is ‘the longest month of the year’ due to receiving their pay too early in December. This invariably means staff begin the year with low morale instead of arriving back rested and full of energy.
The Money School has extensive experience creating & implementing successful Employee Financial Education programs for a wide range of clients, including some major financial services companies in South Africa.
All our programs include aspects of how wealthy people think, behave and, critically – manage their money differently to the masses. We deliver easy to apply steps based on research and case studies, which demonstrates how middle of the road income earners have taken charge of their money to create financial independence.
The Money School takes pride in our ability to unpack complicated financial mathematics in a way that non-financial people can relate to. This detail is one of the biggest barriers for new money managers and needs to be addressed in a very particular way in order to be understood and applied effectively.
By collaborating with savvy money managers our Money Coaches are able to equip consumers with the nuts and bolts of how money is made when transacting with retailers, banks and collection agencies. This knowledge empowers your staff, enabling them to better understand, and negotiate optimal transactional terms in any credit situation.
Learners are then shown ways to apply their newly acquired financial acumen into the family environment. Money can create complex issues in the home and implementation can often be met with resistance to change. The benefits, to your corporate bottom line, soon follow.