The Old Mutual Savings & Investment Monitor is an informative, and detailed source of data that we have compiled from bi-annually conducted surveys, around the savings behaviours of working metro households in South Africa.
The research, branded the Old Mutual Savings & Investments Monitor, was launched in November 2009, and will be updated with new findings on a bi-annual basis.
The latest findings in the November 2011 survey have been released and we have already found that an awareness of the need to save does not necessarily influence positive savings behaviour, nor does the fear of not having enough savings for that rainy day.
Why has Old Mutual done this research?
Old Mutual developed the Old Mutual Savings & Investments Monitor as a knowledge tool that will help provide people with the information they require about what works and what doesn’t work when it comes to savings, and planning for one's future. In turn this information and new found knowledge from the Old Mutual Savings & Investment Monitor will then hopefully empower us all with the wisdom to make the right financial decision to achieve a healthy and secure financial future.
- This research was done to help Old Mutual understand savings behaviour in the country and to empower fellow South Africans with information.
- Knowing more about the savings behaviour of South Africans allows us to provide value adding financial solutions for our clients.
- Old Mutual wants to encourage a culture of savings in South Africa as this provides the basis for future economic growth.
What makes this research different to other savings surveys?
The Old Mutual Savings & Investment Monitor is unique in that it focuses on perceptions and not just statistics and speaks in a consumer friendly way. By providing meaningful insights about South Africans’ savings behaviour, it allows individuals to compare their own savings behaviour with their peers and empowers them to take control of their financial future.
A credible survey?
The survey has a 95% confidence level with a small confidence interval of 3.1% that lends credibility to the survey that was conducted by an independent research company - Peppercorn Research. The research company is a member of the SA Marketing Research Association that governs research practices in South Africa.
Who participated in the survey?
The survey sample comprised of 1000 South African households in the main metropolitan areas (Johannesburg, Pretoria, Cape Town, Durban, Port Elizabeth and East London). All respondents had to be working either in the formal or the informal sector to ensure that the survey sample was reflective of the approximate 5 million SA working metro population. The comprehensive household income sample ranged from less than R3000 pm to more than R40 000 pm.
How was the survey conducted?
The survey was conducted as face to face interviews, instead of telephonic interviews, as couples had to be interviewed simultaneously (where applicable),in order to get accurate working metro household samples. The sample was quota controlled per household income and metropolitan area to ensure that key segments within the sample had sufficient bases for analysis.
The survey data was then weighted to the working metro SA population to get an overall picture. All the results can be analysed by gender, age, generation, income levels, education levels, language, life stage, area, LSM levels and race.