Saving for tomorrow : does the level of financial literacy in the South African working class matter?

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dc.contributor.author Matemane, Matwale Reon
dc.date.accessioned 2019-08-02T12:35:56Z
dc.date.available 2019-08-02T12:35:56Z
dc.date.issued 2018
dc.description.abstract Financial literacy has been identified in previous studies as an area that has not been researched extensively in South Africa. This is particularly true for the working class of black South Africans, who have been previously disadvantaged and were excluded from the mainstream economy and financial services under the apartheid regime. Lower savings and over-indebtedness in this group can be attributed to lower levels of financial literacy. The aim of this study is to examine financial literacy of black South Africans with a commerce tertiary qualification working in Pretoria and Johannesburg, based on descriptive research and structured questionnaires. In total, 171 participants who work in different sectors of the economy and who live in Gauteng were surveyed. The study found that although people with a commerce tertiary qualification are more financially literate than those with non-commerce tertiary qualification, black South Africans nevertheless are less financially literate than their coloured, Indian and white counterparts. Additionally, financial literacy is a significant predictor of individuals’ saving habits. en_ZA
dc.description.department Financial Management en_ZA
dc.description.librarian am2019 en_ZA
dc.description.uri https://upjournals.co.za/index.php/SABR en_ZA
dc.identifier.citation Matemane, R. 2018, 'Saving for tomorrow : does the level of financial literacy in the South African working class matter?', Southern African Business Review, vol. 22, pp. 1-21. en_ZA
dc.identifier.issn 1561-896X (print)
dc.identifier.issn 1998-8125 (online)
dc.identifier.other 10.25159/1998-8125/4443
dc.identifier.uri http://hdl.handle.net/2263/70871
dc.language.iso en en_ZA
dc.publisher Unisa Press en_ZA
dc.rights © The Author(s). This is an Open Access article distributed under the terms of the Creative Commons Attribution-ShareAlike 4.0 International License. en_ZA
dc.subject Financial literacy en_ZA
dc.subject Savings en_ZA
dc.subject Commerce en_ZA
dc.subject Tertiary education en_ZA
dc.subject Gauteng en_ZA
dc.subject South Africa (SA) en_ZA
dc.title Saving for tomorrow : does the level of financial literacy in the South African working class matter? en_ZA
dc.type Article en_ZA


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