The financial responsibilities of Black South Africans once entering the work place contains a number of hidden elements.
The majority of Black South Africans face the challenge of supporting their immediate family and relatives, which is often the first factor to consider when making financial decisions.
Here are a few key insights from the Soccer Laduma audience who participated in a recent survey on financial responsibilities:
• More than 65% of those surveyed have four or more people residing in their home
• 42% of the homes are financially supported by one individual
• In 43% of these homes someone earns a government grant
• 25% of those surveyed financially support as many as six or more people
• 72% financially supports at least one person
• 40% of surveyed respondents support their parents
• 33% financially support their siblings, with 12% supporting their extended family
• 26% support their partner, and 58% support one or more children
Based on the figures above, one would expect a resounding negative outlook from this community, but in fact, 60% of those surveyed indicated that there family is better off than a year ago. This shows the strong bond that resonates through these communities, and that people stick together in difficult circumstances.