THE Financial Sector Conduct Authority (FSCA) will provide free financial education in a drive to help consumers know how to manage their money wisely and be financially literate.
In a statement, the FSCA said it was a well-known fact that the Covid-19 pandemic has had a devastating effect on South Africa’s already failing economy.
“One of the ways to regenerate and grow the economy is through consumers knowing how to manage their money wisely, to save and avoid financial pitfalls, to be financially literate,” the authority said.
The FSCA said it has been mandated to provide free financial education to consumers in order to promote financial literacy.
According to the authority, it has activated a nationwide financial education campaign called #FSCAMyMoney to provide young South Africans from all walks of life with information that will improve their financial acumen, so they can make better decisions when it comes to their money.
“Consumers will be encouraged via various platforms to visit the FSCA’s My Money website, where they will be able to access a wealth of easily understandable and very relevant financial educational tips, such as learning about their rights and responsibilities as a consumer when dealing with financial service providers, what to look for in an accredited financial adviser, how to budget and how to save,” the FSCA said.
The authority said consumers can engage the FSCA directly and ask questions so that they can better safeguard their money by not investing in scams.
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