Dear stakeholder
In July the South African Savings Institute (SASI) launched National Savings Month under the theme ‘Employer Assisted Saving’. The theme recognises the important role that employers can play in facilitating financial education.
Understanding that employers, especially those with employee wellness programmes in place, are well positioned to help their workers gain the knowledge and skills needed to take the right decisions when it comes to managing their money, the ASISA Foundation introduced the Saver Waya Waya WageWise programme in 2015.
Since then, the ASISA Foundation has been collaborating with a number of employers from both the private and public sectors, as well as some unions. As a result, more than 11 500 workers from around the country who earn less than R20 000 have participated in the ASISA Foundation’s Saver Waya Waya WageWise programme, gaining critically important financial literacy skills. The programme has been made possible through generous funding by ASISA members including Sanlam and Coronation.
The Saver Waya Waya (‘save all the time’) WageWise programme takes a holistic approach to teaching financial literacy by making use of innovative teaching methods like educational videos with subtitles in a number of languages, as well as providing post workshop support. This support includes handouts such as budgeting templates, SMS reminders of key learnings, as well as a free 45-minute consultation with an independent financial adviser. The consultation only focuses on financial planning such as budgeting and debt management and cannot involve product sales.
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