--- title: Cut backs in spending by South Africans point to a greater sense of financial responsibility description: Discussions with many of the Rawson Property Group’s franchisees and agents seem to indicate that middle class South African... image: https://res.cloudinary.com/rawson/image/upload/v1/remote/blog/staging/posts/1847/z8Pdkwv4XAi5qrmhjPjZ3MTNMfl5obGfeXP4Xeo5.jpeg --- [![Rawson Property Group logo](https://blog.rawson.co.za/hs-fs/hubfs/Rawson%20-June2017/image/logo-rawson-property-group-white-112x26.png?width=113&height=26&name=logo-rawson-property-group-white-112x26.png "Rawson Property Group logo")](https://www.rawson.co.za/) [![Rawson Property Group logo](https://blog.rawson.co.za/hs-fs/hubfs/Rawson%20-June2017/image/blog-logo.png?width=113&height=26&name=blog-logo.png "Rawson Property Group logo")](https://www.rawson.co.za/) [More Menu ](https://blog.rawson.co.za/cut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility#footer) - [Blog](https://blog.rawson.co.za) - [Cut backs in spending by South Africans point to a greater sense of financial responsibility](https://blog.rawson.co.za/cut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility) # Cut backs in spending by South Africans point to a greater sense of financial responsibility [News](https://blog.rawson.co.za/topic/news) [![Share on Facebook](https://cdn2.hubspot.net/hub/251674/hubfs/1px.png?width=24&name=1px.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://cdn2.hubspot.net/hub/251674/hubfs/1px.png?width=24&name=1px.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://cdn2.hubspot.net/hub/251674/hubfs/1px.png?width=24&name=1px.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Cut%20backs%20in%20spending%20by%20South%20Africans%20point%20to%20a%20greater%20sense%20of%20financial%20responsibility) [![Share on Pinterest](https://cdn2.hubspot.net/hub/251674/hubfs/1px.png?width=24&name=1px.png)](http://pinterest.com/pin/create/button/?url=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dpinterest&media=http%3A%2F%2Fcdn1.hubspot.com%2Fhub%2F158015%2F305390_10100548508246879_837195_59275782_6882128_n.jpg) Discussions with many of the Rawson Property Group’s franchisees and agents seem to indicate that middle class South Africans are now at last beginning to cut back on the money and time spent on ‘frivolous’ items, particularly holidays, and that this is being done in order to balance their household budgets and to protect their prime asset - the property that they are paying off. “It is now clear,” said Clarke, “that the reckless spending of yesteryear is being cut back and South Africans are no longer quite as spendthrift as they were in the 2004 to 2009 boom era.” Many of the younger generation, he added, had until 2009 never experienced a serious recession and had ‘played the credit game’ recklessly, making maximum use of hire purchase, credit card and access bond facilities.  In the process many had got seriously into debt, from which they are still struggling to emerge.  Now, said Clarke, there appears to be a welcome return to a more responsible approach to household financing – and the cut back on holidays, especially overseas holidays, augers well for the future. “For the man-in-the-street,” Clarke reminded the property buying public, “the 7 to 8% annual rise in property values makes property probably the best investment available – and it is one of the very few which can be done on borrowed (bank) capital.  Furthermore, it has to be pointed out that in contrast to many of the more successful European countries, South African property is still affordable to a fairly wide cross-section of population, including young people, even though there is still a very large segment which at this stage has no hope of becoming property owners.” As recent spokesmen for the state have pointed out, said Clarke, the consequences of people reaching middle age without owning their home and having to continue to pay rent puts a serious strain on any national economy’s budget.  It is therefore, essential, that home owning be fostered. For further information contact the Rawson Property Group on (021) 658 7100. ##### For more information, email [marketing@rawsonproperties.com](mailto:marketing@rawsonproperties.com) or visit [www.rawson.co.za](https://www.rawson.co.za/) for the latest market tips and industry news. ## Rawson ### Leave a comment ### More Posts Jul 02, 2026 #### [Stock shortage puts Western Cape sellers in the driving seat](https://blog.rawson.co.za/stock-shortage-puts-western-cape-sellers-in-the-driving-seat) advice [![Share on Facebook](https://blog.rawson.co.za/hs-fs/hubfs/social-uploaded-images/Facebook%20Icons.png?width=24&name=Facebook%20Icons.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://blog.rawson.co.za/hs-fs/hubfs/social-uploaded-images/Linkedin%20Icon.png?width=24&name=Linkedin%20Icon.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://blog.rawson.co.za/hs-fs/hubfs/social-uploaded-images/Twitter.png?width=24&name=Twitter.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Cut%20backs%20in%20spending%20by%20South%20Africans%20point%20to%20a%20greater%20sense%20of%20financial%20responsibility) May 28, 2026 #### [Rates increase by 25 basis points: What May’s MPC decision means for SA property](https://blog.rawson.co.za/rates-increase-by-25-basis-points-what-mays-mpc-decision-means-for-sa-property) [![Share on Facebook](https://blog.rawson.co.za/hs-fs/hubfs/social-uploaded-images/Facebook%20Icons.png?width=24&name=Facebook%20Icons.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://blog.rawson.co.za/hs-fs/hubfs/social-uploaded-images/Linkedin%20Icon.png?width=24&name=Linkedin%20Icon.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://blog.rawson.co.za/hs-fs/hubfs/social-uploaded-images/Twitter.png?width=24&name=Twitter.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.rawson.co.za%2Fcut-backs-in-spending-by-south-africans-point-to-a-greater-sense-of-financial-responsibility%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Cut%20backs%20in%20spending%20by%20South%20Africans%20point%20to%20a%20greater%20sense%20of%20financial%20responsibility) May 19, 2026 #### [Who’s fixing what? 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