Mpumalanga MEC for Economic Development, Environment and Tourism Norman Mokoena encourages the people to adopt a culture of saving
25 Jul 2012
Mpumalanga MEC for Economic Development, Environment and Tourism MEC, Mr Norman Mokoena says South Africans need to take charge of their lives in order assist the government in its commitment of creating a development state.
"This can only be achieved if you start saving now. I urge all consumers to take advantage of government’s initiatives and work closely with institutions like the South African Savings Institution and the South African National Retail Saving Bond, so that they can get proper and relevant assistance in relation to savings and credit related problems," said Mokoena.
"Our Government is considering number of reforms and initiatives to support and encourage household savings. Earlier this year the National Treasury released a policy document called ‘A Safer financial sector to serve South Africa better’. This document touches upon important issues, such as financial inclusion, consumer protection, private and public sector retirement reforms, and the cost and transparency of financial products. A safer financial sector can go a long way in encouraging high savings among consumers," added MEC Mokoena.
The following are saving tips to consumers:
- Live economically: Don’t buy things you don’t need
- Saving is a mindset: Save electricity, water, and money
- Teach Your Childern to save from an early age
- Don’t make excuse about why you don’t save
- Start to save early for retirement
- Use credit sparingly and carefully
- If you are in debt, pay the debt off as fast as you can
- Shop around before you buy
- Learn to resist those tempting media messages
"Children need to be taught to save from an early age because it is easy to condition the young mind than a mature one. Let’s plant the seed now if we want to reap the rewards in the future. I believe that the future belongs to those who invest in the present. The correct and opportune time is now," concluded MEC Mokoena.
The month of July is commemorated annually, nationwide, as the savings month, and the main objective through this campaign is to encourage and inculcate the culture of savings.
Cell: 072 167 6149
Tel: 013 766 4132
Issued by: Mpumalanga Economic Development, Environment and Tourism
25 Jul 2012
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