Gaining financial wisdom
The Old Mutual Foundation is committed to socio-economic transformation in rural and peri- urban communities throughout South Africa. By creating opportunities to bring marginalised people into the mainstream economy, we invest in the future of our country and our company.
However, research shows that poor financial planning habits are still at the root of poor money management, and that many South Africans do not know what they have to do to achieve financial security. It is for this reason that all socio-economic initiatives implemented by the Old Mutual Foundation are supported with financial literacy skills for our beneficiaries.
In May 2007, Old Mutual launched a Financial Education unit which aligns directly with the South African government and the Financial Sector Charter’s call for education initiatives to improve the economic prospects of ordinary South Africans. The programme is provided free of charge by trained education facilitators and non-sales people within Old Mutual, to deliver financial literacy programmes.
The critical importance of this programme is further highlighted by the Credit Bureau Monitor (September 2010) statistics showing the credit standing of South African consumers:
■ 18 350 000 credit-active consumers ■ 13.8% (2 500 000) consumers have judgments and administrative orders against them
■ 15.8% (2 800 000) consumers have adverse listings ■ 17% (3 100 000) consumers are in arrears of three months or more.
The aim of Old Mutual’s Financial Education programme is to help the nation break the cycle of generational poverty and debt, by showing people how to use the financial resources at their disposal to realise their goals and dreams. Old Mutual’s On The Money financial wellness programme helps participants to:
■ Understand the importance of managing their personal finances
■ Acknowledge their current “money personality” ■ Understand the importance of changing their financial behaviour
■ Break old habits that get in the way of financial stability and establish new, healthy habits.
The key success of the On The Money programme is that participants realise creating wealth is not determined by earning ability, but rather by sensible attitudes and habits around money.
Thus the Old Mutual Foundation is committed not only to bringing about wealth-creating opportunities in order to alleviate poverty and improve quality of life; but also to ensuring that the socio-economic transformation brought about through our initiatives is maintained through financial health and wisdom.
For more information on how to attend or organise a free workshop, email
financialeducation@oldmutual.co.za, call us on 0860 388 873 or visit
www.oldmutual.co.za/ financialeducation
South African Police Service
KEY TRENDS IN EDUCATION SPEND
KEY TRENDS IN EDUCATION SPEND
This report looks at budgets to assess how much government is allocating for the realisation of children’s rights and the growth trends in these allocations. The objective is to analyse the possible effects of government’s budgets on child rights and well-being.
ANALYSIS OF THE GOVERNMENT’S BUDGETS 2010 – 2012
Children are protected by all the rights in the Bill of Rights with the exception of the right to vote and the obligation to children’s rights is therefore spread across all government spheres and departments. Though this is true, our focus is on the bud- gets of the national and provincial depart- ments of education that are responsible for delivering key services.
Table 4 below shows the services that re- lates to education in South Africa.
The national department is primarily re- sponsible for policy development, coordi-
nation and monitoring and evaluation, while the provincial or local sphere is responsible for service delivery. This is the case for health, social development and education.
In the 2010 budget speech, the Minister of Finance acknowledged that weak coordina- tion and alignment between national policy and provincial budgets will be a “recipe for failure” in respect of education and health. This report points out where some of the current weaknesses lie.
Table 5 lists the total allocations proposed for 2010/11 for each of the national, as well as the combined totals for the nine provincial departments in each sector. In the education sector, the table lists only the Department of Basic Education in the
TABLE 2: Departments and services areas covered in the report DEPARTMENTS
SERVICE AREA Social Development
• Social welfare services including crèches, early childhood development, prevention and early intervention, protection, foster care, adoption and child and youth care centres (places of safety, children’s homes and secure care centres).
• Social grants Basic Education
• Grade R • Primary schooling • Secondary schooling • Special needs education • National School nutrition programme • School of industry and reform schools
• Safety and Security • Investigating crime
Budlender, D. & Proudlock, P. (eds) 2010. Child centred analysis of government’s budgets 2010 - 2012. The Children’s Institute, University of Cape Town.
www.ed.org.za
OMMS 03.2011 T2357/RMM
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123