The newsletter and articles are available on our web site in Afrikaans.
Economic Update
While everyone focuses on the massive debt Americans household have created, we forget that this country remains among the richest in the world and the Americans are still as wealthy as they have always been. The world's recovery will still be driven by the American consumer.
The release of the Reserve Bank's Quarterly Bulletin showed that households are starting to recover as spending increases and debt levels fall. However our continued low levels of savings remains a national emergency and will hamper our ability to invest in key infrastructure.
Find out more in our local and global economic reviews.
Savings Month
The World Cup is behind us, the party is over and now we need to start paying for everything we have spent - both in our personal capacity and as a nation. So it is fitting that July is savings month. As consumer economist Tendani Mantshimuli points out, South Africa needs to build its savings rate in order to pay for the infrastructure we so desperately need. So when you commit to a savings plan this month, you are not only doing it for yourself, but for your country's needs as well.
In the article - What are you saving for? - we look at what savings means to you and how to select the correct investment vehicle for your savings.
We also look at the - Power of the debit order - and how this not only creates the discipline to save but also improves the return on your investment.
While this is savings month, many of us will be faced with a World Cup debt hangover. Is it better to pay off the debt or to start a savings plan? For some guidelines on the correct financial strategy read the article - Balancing debt and savings.
Your feedback is important – talk to us!
Thank you for the feedback we have received on these newsletters so far. Your comments and suggestions will help us to give you relevant information for planning and managing your finances.
Please keep talking to us and telling us what you think! You can email your comments to info@liberty.co.za
Kind regards
Steven Braudo
Chief Executive Officer: Liberty Retail SA