For over a decade, Momentum and the University of South Africa (Unisa) have released the Household Financial Wellness Index. The Index is a scientific study into the financial wellness of households in South Africa, with data from over 2 500 annual interviews. The 2022 report showed that South Africans made progress towards improving their financial situations after Covid-19 setbacks.
Besides offering insights into South African households’ finances, the report also aims to help policymakers and acts as a resource for building tools, tips, and interventions to guide financial success. They define financial success as:
Our research, as well as that of international institutions, has shown that true financial success should be assessed in terms of each individual and household’s unique financial goals, and not by simply looking at how much they earn or how wealthy they are. These unique financial goals are influenced by several
factors, such as circumstances, environments, values, etc. – and can be short- and long-term in nature. In summary, research revealed that financial success is about achieving short-term goals in pursuit of long-term goals.
The report is based on Momentum’s Science of Financial Success, which evolved from their Theory of Change.
Download the Momentum Unisa Household Financial Success Index 2022.
