Page 17 - TODAY Magazine Issue 1 2022 - Old Mutual

SSHARED EXPENSES YOUR MONEY
Sharing your home means sharing expenses. How that is done
will depend on your setup and everyone’s financial position. Multigenerational and
communal households are nothing new and
we are, in fact, seeing more and more people sharing homes across the country. In South Africa, 43% of people fall in this category according to the 2021 Old Mutual Savings
& Investment Monitor. This is the highest number it has ever been – a 9% increase on 2019.
A recent reason for this is Covid-19 and the lockdown that are forcing many people to move in together and pool their resources to reduce their living expenses. Of course there are other advantages to sharing a home, such as having parents in the house who can help with babysitting, however
it’s important to establish house
rules from the start.
Send your retirement and other money-related questions to todayomc@oldmutual.com ISSUE ONE 2022 | 15
GO TO CONTENTS