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Households’ review of their budgets to deal with the paradox of COVID-19 financial disruptions and increased health-related expenses: a mental accounting approach
Mini Dissertation (MBA)--University of Pretoria, 2021.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2022
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| _version_ | 1867613505858830336 |
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| access_status_str | Open Access |
| author2 | Erasmus, Alet |
| author_browse | Erasmus, Alet |
| author_facet | Erasmus, Alet |
| collection | Thesis |
| dc_rights_str_mv | © 2020 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 | Mini Dissertation (MBA)--University of Pretoria, 2021. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/85381 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:37:13.330Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| 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:2263/85381 Households’ review of their budgets to deal with the paradox of COVID-19 financial disruptions and increased health-related expenses: a mental accounting approach Erasmus, Alet Pillay, Prathiva UCTD Mini Dissertation (MBA)--University of Pretoria, 2021. The WHO (World Health Organisation) declared COVID-19 a global pandemic in mid-March 2020. To curb the spread of the virus, many countries, South Africa included, implemented lockdowns which restricted people’s movement and limited economic activity. As a result, South African household earnings decreased by 30% in 2020, with incomes of lower educated households decreasing by approximately 40%. As a result of the financial impact, many households had to reprioritise their budgets, decreasing the amount available in specific budget categories but increasing amounts in others, such as preventative OTC medication and general medical expenses, which became a priority. This study aims to explore how households reprioritised their budgets to deal with the predicament of COVID-19 financial disruptions and increased health-related expenses using mental accounting as a theoretical framework. This study used a mono-method, quantitative research approach following a positivist research philosophy, using a descripto-explanatory strategy within a cross-sectional time-horizon. Data was collected by means of an electronic survey that made use of Likert-type scales to facilitate ease of completion on handheld devices. The results demonstrate that financial disruptions caused by the pandemic negatively impacted all income groups and further indicated that households prioritised medical related expenses as essential items on their budget. Households that were members of a medical aid were more inclined to increase budget amounts allocated towards preventative healthcare such as OTC medication and supplements, compared to households with no medical aid to support them. Finally, it was observed that COVID-19 has altered South Africans’ perceptions of budgeting, with indications that the pandemic has driven them to be more cautious with future spending, and more conservative with future budgeting behaviour. zl22 Gordon Institute of Business Science (GIBS) MBA Unrestricted 2022-05-17T11:20:38Z 2022-05-17T11:20:38Z 2022/04/07 2021 Mini Dissertation * https://repository.up.ac.za/handle/2263/85381 en © 2020 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 Households’ review of their budgets to deal with the paradox of COVID-19 financial disruptions and increased health-related expenses: a mental accounting approach |
| title | Households’ review of their budgets to deal with the paradox of COVID-19 financial disruptions and increased health-related expenses: a mental accounting approach |
| title_full | Households’ review of their budgets to deal with the paradox of COVID-19 financial disruptions and increased health-related expenses: a mental accounting approach |
| title_fullStr | Households’ review of their budgets to deal with the paradox of COVID-19 financial disruptions and increased health-related expenses: a mental accounting approach |
| title_full_unstemmed | Households’ review of their budgets to deal with the paradox of COVID-19 financial disruptions and increased health-related expenses: a mental accounting approach |
| title_short | Households’ review of their budgets to deal with the paradox of COVID-19 financial disruptions and increased health-related expenses: a mental accounting approach |
| title_sort | households review of their budgets to deal with the paradox of covid 19 financial disruptions and increased health related expenses a mental accounting approach |
| topic | UCTD |
| url | https://repository.up.ac.za/handle/2263/85381 |