{"id":124167,"date":"2016-05-19T11:05:38","date_gmt":"2016-05-19T09:05:38","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=124167"},"modified":"2016-05-19T16:36:43","modified_gmt":"2016-05-19T14:36:43","slug":"this-graph-shows-how-we-spend-our-money-each-month-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/124167\/this-graph-shows-how-we-spend-our-money-each-month-in-south-africa\/","title":{"rendered":"This graph shows how we spend our money each month in South Africa"},"content":{"rendered":"

A new report\u00a0 by Standard Bank reveals the monthly spending habits of households in South Africa.<\/p>\n

The bank notes that 62.3% of households fall within the poorest income bracket – below R86,000 per annum, while middle income groups (R86,001- R1.48 million per annum) comprise a combined 26.4% of South African households.<\/p>\n

The wealthiest households in South Africa only account for 1.2% (R1.48 million – R2.36 million+ per annum).<\/p>\n

According to Standard Bank, the largest components of household expenditure are food, beverages and tobacco (20%) and contributions, which refers to instalment type payments and includes medical aid, insurance and pension fund contributions (29%).<\/p>\n

Transport comprises 15% of aggregate household expenditure. This includes petrol and purchases of new vehicles.<\/p>\n

Health accounts for 6% and housing, electricity, gas and fuels for 5% of aggregate household spending.<\/p>\n

Education is only 3% of spending. This includes primary, secondary and tertiary education.<\/p>\n

\"Household<\/a><\/p>\n

Up to 60% of household spending is on essential items and 40% on non-essential items.<\/p>\n

The bank found that 59% of expenditure by low income households is on non-durable goods, primarily food, making these households more susceptible to food inflation.<\/p>\n

It said that 8.8% of spending is on semi-durable goods and only 3.5% of low income household expenditure is on durable goods.<\/p>\n

Between 22% and 40% of spending by middle income households is on non-durable goods and 5% and 10% on durable goods, while 15-23% of spending by high income households is on durable goods, making these households more sensitive to currency weakness and interest rate hikes.<\/p>\n

Spending on services tends to comprise a similar percentage of each household budget i.e. between 25% and 33% of household spending.<\/p>\n

More on South Africa<\/h3>\n

How South Africans generate an income<\/strong><\/a><\/p>\n

How South Africa\u2019s rich spend their money vs the poor<\/strong><\/a><\/p>\n

How South Africans save money each month<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report by Standard Bank reveals the monthly spending habits of households in South Africa.<\/p>\n","protected":false},"author":10,"featured_media":114712,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,499],"class_list":["post-124167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/124167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=124167"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/124167\/revisions"}],"predecessor-version":[{"id":124249,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/124167\/revisions\/124249"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/114712"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=124167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=124167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=124167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}