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Recently, demographic factors that influence financial literacy have become increasingly important for policymakers than ever before. The primary purpose of this study was to establish the relationship between demographic factors and financial literacy among adults in a rural and low-income areas of South Africa. The objectives were to determine which gender uses a budget, which age cohort keeps copies of financial documents, which category of education level is saving for retirement, and the correlation between education level and saving for retirement. Descriptive statistics and correlation analysis were used to analysed data. The results showed that males used a budget more than females by a low margin. Adults struggled to keep copies of financial documents; however, adults between the ages of 41-50 kept copies of financial documents the most. Those with matric were better savers for retirement than other levels of education, besides the fact that most adults were not saving for retirement. The study also revealed a negative correlation between education level and retirement savings. Thus, the relationship between demographic factors and financial literacy was negative. The study concludes by suggesting interventions that could help adults improve their financial literacy and manage and sustain their financial well-being.

This study investigated the impact of parental financial socialisation on financial attitude of young black African adults in rural and low-income area in South Africa through quantitative research approach, survey design and self-administered questionnaire. Data was collected from young black African adults in Fetakgomo Tubatse and Intsika Yethu local municipalities, low-income and rural areas in South Africa. Multiple regression analysis was used to test the relationship between parental financial behaviour, parental financial monitoring, parental financial discussion, parental financial communication, and parental financial teaching with financial attitude. The results showed that parental financial communication and parental financial teaching had a significant positive relationship with financial attitude. While parental financial behaviour, parental financial monitoring and parental financial discussion had no significant positive relationship with financial attitude. Therefore, the overall results indicated that parental financial socialisation has no impact on financial attitude of young black African adults in rural and low-income area in South Africa. This study provided recommendations to parents, young black African adults, financial educators, financial services institutions, financial counsellors and the government.

The study investigates the relationship between financial literacy and savings among individuals in South Africa, utilising data from the National Income Dynamics Study. The theoretical framework highlights the importance of financial literacy, encompassing knowledge, behaviour, and attitudes towards financial planning. Empirical analysis using OLS, Logit, Probit, and Tobit models reveals a positive correlation between financial literacy and savings. Higher financial literacy levels are associated with increased savings propensity, with significant coefficients observed across various models. The findings underscore the critical role of financial education in enhancing savings behaviour, suggesting that improved financial literacy can lead to better financial outcomes and contribute to economic growth. The study’s results have policy implications, advocating for targeted financial literacy programmes to boost savings rates and support economic development in South Africa.

The moderating effect of parental income on parental financial communication and financial literacy is increasingly becoming important. The objective of this study was to determine whether the relationship between parental financial communication of young adults and their financial literacy is moderated by parental income. Financial literacy was measured through financial knowledge, financial behaviour, financial attitudes, and financial decision-making. Quantitative research approach was adopted for this study. Self-administered questionnaire was used to collect data among young adults in South Africa. Moderated regression analysis was used to analyse data. Four hypotheses were tested. The results showed that parental income moderated the relationship between parental financial communication with financial knowledge, financial behaviour, financial attitude, and financial decision-making. Therefore, the overall results indicated that the relationship between parental financial communication and financial literacy is moderated by parental income.  This study is amongst the first to investigate whether the relationship between parental financial communication and financial literacy is moderated by parental income. This study concluded by providing recommendations and suggestions for future research.

Global consumers are experiencing the adverse effects of over-indebtedness, which impacts their well-being. This study article emphasises the significant repercussions experienced by consumers regarding their welfare due to over-indebtedness. A qualitative research approach was employed to identify a deliberate sample of five registered debt counsellors and financial planners. Semi-structured interviews were employed, and theme qualitative analysis was performed. The results indicate that excessive debt adversely affects consumer well-being and quality of life. Inadequate financial well-being was recognised as the primary catalyst that exacerbated other issues for over-indebted consumers, including deteriorated physical and mental health. Moreover, stress and stigmatisation have been identified as detrimental consequences stemming from financial hardships. This article demonstrates that financial debt is correlated with and adversely affects consumer physical and mental well-being, highlighting the necessity for immediate solutions, including enhanced financial education and more robust laws.   

Global consumers are experiencing the adverse effects of over-indebtedness, which impacts their well-being. This study article emphasises the significant repercussions experienced by consumers regarding their welfare due to over-indebtedness. A qualitative research approach was employed to identify a deliberate sample of five registered debt counsellors and financial planners. Semi-structured interviews were employed, and theme qualitative analysis was performed. The results indicate that excessive debt adversely affects consumer well-being and quality of life. Inadequate financial well-being was recognised as the primary catalyst that exacerbated other issues for over-indebted consumers, including deteriorated physical and mental health. Moreover, stress and stigmatisation have been identified as detrimental consequences stemming from financial hardships. This article demonstrates that financial debt is correlated with and adversely affects consumer physical and mental well-being, highlighting the necessity for immediate solutions, including enhanced financial education and more robust laws.   

The research focus was on the link between Personal Financial Management (PFM) and employees' productivity in Botswana’s public sector because this particular aspect remains largely unattended despite being an important gap within African public sector management studies. The research was conducted at the Department of Social Protection and entailed applying a quantitative research paradigm with structured research interviews (n=73). Analysis shows that there was statistical significance with PFM only marginally expanding employees' productivity at 19.3% variance significance level. It was established that marital status and age were not significant factors or interests influencing PFM while education was established as an important predictor variable using multiple regression analysis. It was established that poor PFM practice translates to employees' stress caused by financial problems manifesting at workplaces indicated by employees' lack of focus and related absenteeism. The study proposes specific programs for employees' financial well-being at workplaces.

The study investigates the relationship between financial literacy and savings among individuals in South Africa, utilising data from the National Income Dynamics Study. The theoretical framework highlights the importance of financial literacy, encompassing knowledge, behaviour, and attitudes towards financial planning. Empirical analysis using OLS, Logit, Probit, and Tobit models reveals a positive correlation between financial literacy and savings. Higher financial literacy levels are associated with increased savings propensity, with significant coefficients observed across various models. The findings underscore the critical role of financial education in enhancing savings behaviour, suggesting that improved financial literacy can lead to better financial outcomes and contribute to economic growth. The study’s results have policy implications, advocating for targeted financial literacy programmes to boost savings rates and support economic development in South Africa.

This study provides an empirical assessment of financial prudence among South African individuals, focusing on savings and investment behaviour. Prior research highlights a positive correlation between national savings rates and economic growth, with countries exhibiting high saving rates often experiencing stronger economic prosperity. However, as of 2023, South Africa's gross saving rate remains around 17%, ranking the lowest among BRICS nations. In contrast, countries like China and India boast saving rates above 40% and 30% respectively, underscoring South Africa's persistent challenge in fostering a robust savings culture. Despite various initiatives aimed at increasing the national savings rate, these efforts have yet to yield significant improvements. This research explores whether financial prudence characterised by conservative spending and careful planning in the face of future income uncertainty—could contribute to higher personal savings rates. To investigate this, an experimental design was employed where participants were presented with a hypothetical lottery payout scenario to gauge their prudence and its effect on saving behaviour. Analysis of the data indicated that while individuals generally displayed a lack of prudence, prudence itself has a notable influence on savings. Based on these findings, the study recommends that financial products and services in South Africa be designed to be affordable, accessible, and suited to the needs of the population. Additionally, it advocates for government investment in small businesses, job creation, and efforts to attract foreign investment to support a more robust savings culture.

Financial knowledge and behaviour in millennials and Gen Z's turbulent and volatile environment are fundamental behavioural traits for a desirable work-life balance. They could contribute to work motivation and a comfortable social life. However, the financial knowledge, financial literacy and financial behaviour viewed from an organizational context are still far from homogeneity and linearity as Gen Y and Z have to navigate through challenging settings while thriving to enjoy financial and investment-balanced decision-making and problem-solving albeit limited disposable income against a plethora of spending pressures. This study explores the synergy between financial knowledge contribution and financial behaviour that culminates in sound investment prioritisation amongst Gen Y and Z professionals in the employment of public entities. The study used the qualitative research approach to unpack the challenges facing Gen Y and Z from fifteen professionals in navigating a prosperous financial future. The findings revealed that the existential restrictive nature of the economic climate and the sluggish economic growth, characterised by the heightened cost of living and inflationary pressure, have not exempted Gen Y and Z, while the broader society is experiencing the worst unemployment. The findings also revealed that even though the participants are in relatively well-remunerating positions from their respective positions, their financial knowledge and commensurate financial literacy could be superseded by actual financial behaviour, which is symptomatic with the current era of rampant price increases on almost every product, assets and purchases which are meant to improve their standard of living and stable quality of life.