South Africans could be saving too much, Absa says

[BusinessTech]

South Africans could be saving too much, Absa says

South Africans failure to break the restraint they exercised during the most financially challenging months of the Covid-19 pandemic could temper the nation’s economic growth prospects, according to Absa Group Ltd’s acting chief executive officer Jason Quinn.

 

[Agent_Smith]

Lol, first we're not saving enough and now we're saving too much...

 

[agentrfr]

"Buy more stuff so we can sell you credit. We like money. Yours."

KekW

 

[RedViking]

Good.

 

[Thor]

FU Absa

 

[Grubscrew]

Dom fokke

 

[Ghost64]

Explains the ques outside Louis Vuitton and Gucci....

 

[ShaunSA]

South Africans are also eating too much Jason

 

[Thugscub]

Saving to escape the thieving communist doekoppe.

 

[supersunbird]

Lol, first we're not saving enough and now we're saving too much...

Yeah, they must make up their minds.

 

[ToxicBunny]

Fsck off ABSA...

You want people to spend their money so you can make money when they need credit...

**EDIT** From a financial point of view, COVID was actually a massive blessing for me. It showed me a whole lot of things I was spending money on were entirely pointless and I've shed the vast majority of them. I didn't end up being "more defensive" in my saving, I just saw a whole lot of things that money disappeared to every month that were not necessary or even used properly.

 

[rvZA]

It is not that people are saving too much.... it is more a case of people now being careful and working much better with the money they have. No one is guaranteed they will still have a job tomorrow or by the end of the month. No one is sure when their company will call them in and inform them of a pay cut. People are unsure, people are scared.

Bad economic growth are being laid squarely at the feet of the ANC.

 

[yebocan]

Fsck off ABSA...

You want people to spend their money so you can make money when they need credit...

**EDIT** From a financial point of view, COVID was actually a massive blessing for me. It showed me a whole lot of things I was spending money on were entirely pointless and I've shed the vast majority of them. I didn't end up being "more defensive" in my saving, I just saw a whole lot of things that money disappeared to every month that were not necessary or even used properly.

yep...killed the habitual autopiloting, realised most of the stuff I thought were essential, are not .. I spend way less now than before Covid.

 

[GrootVoet]

I suspect a lot a people with money (even if little) are moving it overseas.

 

[ToxicBunny]

yep...killed the habitual autopiloting, realised most of the stuff I thought were essential, are not .. I spend way less now than before Covid.

Yup... It has actually been an eye opener in terms of how much money I was wasting every month on things that I either never used, or just didn't actually really want but were autopilot expenses in a way.

 

[Jet-Fighter7700]

Absa sound like a$$h0les, fix your retarded systems then come tel us were spending too much money.

 

[yebocan]

Yup... It has actually been an eye opener in terms of how much money I was wasting every month on things that I either never used, or just didn't actually really want but were autopilot expenses in a way.

yep, the autopiloting ... not limited to finances ...life in general... how you spend your precious time and energy.... not allowing the flow/current to take you , instead being the true captain of your ship.

 

[grok]

Absa is like the Fikile Mbalula of banking.. if you value your sanity just pat on head and move on.

 

[rvZA]

Absa is like the Fikile Mbalula of banking.. if you value your sanity just pat on head and move on.

True, you cannot really pay attention to anything ABSA is saying.

 

[Diebaasvanafm]

South Africans are also eating too much Jason

They're making too many kids to.