The South African Social Attitudes Survey: financial literacy in South Africa: tabulation report based on the 2012 South African Social Attitudes Survey round

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Abstract

The primary overall objective of this survey was to gather information about the attitudes and perceptions regarding democracy and governance in South Africa. The Financial Services Board (FSB) purchased a set of questions in the 2012 round of the South African Social Attitudes Survey (SASAS). SASAS is an annual survey undertaken by the Human Sciences Research Council and is a nationally representative survey which focuses on all South Africans 16 years and older. The FSB survey module focused on the measurement of financial literacy among the adult population, using a multidimensional conceptualisation that includes items clustered into four domains, namely (i) financial control, (ii) financial planning, (iii) appropriate financial product choice and (iv) financial knowledge and understanding. The measures included in the 2012 SASAS round build on conceptual and measurement work conducted on behalf of the FSB in both 2010 and 2012 as well as from recent methodological work and cross-national pilot testing undertaken by the OECD's International Network on Financial Education (INFE).