Why it’s important to have emergency savings, and how to do it
12 May 2021 - 10:04
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Starting with putting R50 or R100 towards your savings goal is a good way to get going as this money will grow over time.
Image: 123RF/Lightfieldstudios
Having savings on hand is one of the most effective ways of building financial resilience, and cope with any unexpected event or circumstance that life throws our way. Unfortunately, as Covid-19 and the national lockdown revealed, few South Africans have emergency savings on hand, and had to make do with lower or a loss in income for a few months.