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Survey: Financial wellness of SA households declines marginally in 2015

The survey looked into factors including income, assets and living environments.

Picture: Christa Eybers/EWN.

JOHANNESBURG - A new survey has revealed the overall financial wellness score of South African households declined marginally to 66.3 percent last year due to a number of factors including a drop in economic growth.

It's down 0.3 percent from 2014.

University of South Africa (Unisa) collaborated with Momentum to conduct the national survey to uncover the levels of financial wellness in South Africa.

The survey looked into factors including income, assets and living environments.

It shows that generally, those with a higher level of education are in a better financial situation.

Unisa's Carel van Aardt says many South Africans are not able to control their own finances for a number of reasons.

"People often feel disempowered to improve their own situations; a lot of people are increasingly distrustful of institutions in South Africa, including government, financial institutions and companies who've got growing, legitimisation problems in South Africa."