'We have a lot of rainy days and there’s no money to save for them!' - Columnist

CapeTalk’s Clarence Ford speaks with columnist Gasant Abarder.

Listen below:

Saving 'for a rainy day' is an important part of financial security, but very few South Africans are able to do this.

The cost of living has become so high that putting money aside for the future is a near impossible task for many.

Abarder points out that most households in our country are living from paycheque to paycheque, and just one bad month can cause serious trouble.

“There's been a lot of rainy days... we just haven't been able to put away for them.” 

- Gasant Abarder, Columnist 

He says personal finance experts often encourage us to put aside 15% of our salary in savings, but people do not have that money to spare.

“It really riles me up sometimes to hear them, because where does this extra 15% that you’re meant to be saving every month come from?” 

- Gasant Abarder, Columnist 

RELATED: Retirement crisis looms as South Africans delay saving to spend

For most people in the country he says, a comfortable retirement is little more than a pipe dream.

If we want to change that, Abarder says we need to budget, be disciplined, and know exactly where our money is going.

Scroll up to the audio player for more.