South African savings institute
Different economic and business research results indicate that majority of South Africans do not pay attention to saving money and the trend is getting worse. Saving is often confused with investing, but they are not the same. Saving is income spent or deferred consumption. Saving also involves reducing expenditures such as recurring costs. One organisation working towards changing this picture is South African Savings Institute (SASI).
Launched in 2001, SASI is an independent non-profit organisation which has dedicated itself to developing a robust culture of saving in South Africa. This entity was formed on the back of poor savings rate, disparate living standards, lack of financial literacy and general poor growth of the economy.
The mandate of South African savings institute (SASI) is carried out by carrying out advocacy work such as influencing decision makers, regulators, legislators and service providers. SASI also conducts research initiatives to monitor savings and patterns at government, corporate and household levels as well as the commissioning of new research independently or through partnerships. Other methods used are information and content provision to assist in the education of all sectors and tiers of society, the Quaterly savings barometer for example measures the environment within which savings takes place. Debate is also a big part of the mandate to raise awareness and tackle issues through facilitation and networking.
South African Savings Institute can be contacted through the official website.