The psychology of money

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South Africans spend 75% of their take-home pay servicing debt and only 6% of South Africans can afford to retire comfortably according to the latest 10X Investments Retirement Reality Report.

Last week, Podcast Party attended the launch of a new financial literacy project called Rethink Rands spearheaded by Primestars, a leading provider of Youth Development Programmes.

The project aims to drive empowerment through education by embedding financial literacy in our schools, and helping the youth establish a financial and entrepreneurial mindset that contributes to success, rather than struggle.

Instead of following a traditional financial framework, the Rethink Rands initiative will focus on psychology, behavioural economics, and a system of understanding behavioural change that anyone can follow to take control of their finances.

We are looking forward to seeing this innovative approach make a meaningful change for future generations.

For more information visit primestars.co.za

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