Survey shows South Africans are turning to online platforms for their financial advice

Online sources of financial information and news are highly trusted and well used, according to a recent Fin24 survey, conducted on the website. A massive 78% of the readers surveyed chose to turn to Fin24 for financial guidance and, even more interestingly, will do so 3 times more often than turning to the financial supplements in the weekly newspapers.

fin24 icon twitter logo SMALLSays Fadia Salie, editor of Fin24: “We all know that the face of news has changed but what is interesting is that this survey is showing that online sources of financial news and information are as, if not more, trusted that print. Which I believe shows a very exciting shift in trends.”

Also seen in the survey results was that readers were happy with their financial management. 76% of those surveyed felt they managed their debt well, 55% were saving money for the future, 83% felt they were on top of their credit card debt and more than half owned their own homes.

However, potentially worrying results also showed that 21% of their readers (of whom 79% have a tertiary education and 65% earn over R16 000 a month) do not have an RA or a pension, and that almost half of them do not have a financial planner to provide investment and financial advice, but that 20% are at least seeking financial guidance. This might also be related to the age of the Fin24 readers which the survey showed as 37% being 20-35 years, 34% being 36-40 years and 27% are 50+years.

Gustav Goosen, the CEO of The SpaceStation, who exclusively manage the digital media sales for Fin24 said that the site’s readers are very tech savvy with strong use of the platform on mobile web and via the app. “The typical Fin24 reader wants credible information at their finger tips and are turning more and more toward the Internet, and platforms like Fin24, as the source.”

Fin24’s Effective Measure statistics for April 2014 show 446 639 (local) and 524 601 (International) Unique Browsers (UB) via the web while the international mobile traffic reflected 209 804 UBs.The SpaceStation - Fin24 Infographic