Full Text Available
Note: Clicking the button above will open the full text document at the original institutional repository in a new window.
The determinants of household saving : the South African Black middle class perspective
Dissertation (MBA)--University of Pretoria, 2012.
Saved in:
| Other Authors: | |
|---|---|
| Format: | Thesis |
| Published: |
University of Pretoria
2013
|
| Subjects: | |
| Tags: |
No Tags, Be the first to tag this record!
|
| _version_ | 1867613574563627008 |
|---|---|
| access_status_str | Open Access |
| author2 | Holland, Mike |
| author_browse | Holland, Mike |
| author_facet | Holland, Mike |
| collection | Thesis |
| dc_rights_str_mv | © 2011, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation (MBA)--University of Pretoria, 2012. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/25807 |
| institution | University of Pretoria (South Africa) |
| last_indexed | 2026-06-10T12:38:18.923Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2013 |
| publishDateRange | 2013 |
| publishDateSort | 2013 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/25807 The determinants of household saving : the South African Black middle class perspective Holland, Mike ichelp@gibs.co.za Chauke, Hlayiseka Morgan UCTD Saving rate Household savings Budgeting discipline Middle class Dissertation (MBA)--University of Pretoria, 2012. Saving is critical for the economic development of a country and can insulate it from unwanted inflation and financial instability as a result of international exposure. South Africa is currently experiencing low savings rates and many South Africans have difficulty servicing their debts. Black Africans form the majority in South Africa and they are therefore of critical importance with regard to saving and this country’s ability to finance future projects. It can be argued that the White South African population is becoming older and will therefore begin to withdraw its savings. A literature review has been undertaken to distil the determinants of saving in general and to observe the applicability of these determinants to Black middle class South Africans. Therefore, this paper seeks to identify the determinants of household savings of the Black middle class, with reference to questionnaires and quantitative answers from the respondents in four of South Africa’s provinces. The key findings of the research indicate that the South African Black middle class is financially illiterate and not disciplined with regard to budgeting. They show a high dependency ratio, and the need for instant gratification. In addition, people are hindered by cultural norms that inhibit them from discussing theirSaving is critical for the economic development of a country and can insulate it from unwanted inflation and financial instability as a result of international exposure. South Africa is currently experiencing low savings rates and many South Africans have difficulty servicing their debts. Black Africans form the majority in South Africa and they are therefore of critical importance with regard to saving and this country’s ability to finance future projects. It can be argued that the White South African population is becoming older and will therefore begin to withdraw its savings. A literature review has been undertaken to distil the determinants of saving in general and to observe the applicability of these determinants to Black middle class South Africans. Therefore, this paper seeks to identify the determinants of household savings of the Black middle class, with reference to questionnaires and quantitative answers from the respondents in four of South Africa’s provinces. The key findings of the research indicate that the South African Black middle class is financially illiterate and not disciplined with regard to budgeting. They show a high dependency ratio, and the need for instant gratification. In addition, people are hindered by cultural norms that inhibit them from discussing their finances. These findings can be traced back to this class’s previous exclusion from the main economy. The recommended outcome of this paper indicates that the South African government should implement budgeting as part of the curriculum in primary and high schools. People leaving employment before retirement should not be allowed to cash out more than 50% of their pension fund, and the private sector should be involved in educating its employees with regard to budgeting and the benefits of saving, while creating an environment that facilitates access to financial providers. Gordon Institute of Business Science (GIBS) unrestricted 2013-09-07T00:41:37Z 2012-09-19 2013-09-07T00:41:37Z 2012-03-08 2012-09-19 2012-06-24 Dissertation Chauke, HM 2011, The determinants of household saving : the South African Black middle class perspective, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://hdl.handle.net/2263/25807 > F12/4/639/zw http://hdl.handle.net/2263/25807 http://upetd.up.ac.za/thesis/available/etd-06242012-132823/ © 2011, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Saving rate Household savings Budgeting discipline Middle class The determinants of household saving : the South African Black middle class perspective |
| title | The determinants of household saving : the South African Black middle class perspective |
| title_full | The determinants of household saving : the South African Black middle class perspective |
| title_fullStr | The determinants of household saving : the South African Black middle class perspective |
| title_full_unstemmed | The determinants of household saving : the South African Black middle class perspective |
| title_short | The determinants of household saving : the South African Black middle class perspective |
| title_sort | determinants of household saving the south african black middle class perspective |
| topic | UCTD Saving rate Household savings Budgeting discipline Middle class |
| url | http://hdl.handle.net/2263/25807 http://upetd.up.ac.za/thesis/available/etd-06242012-132823/ |