South African households' low saving rate‚ which has stood around 0% for many years‚ will struggle to grow if the unemployment rate continues rising.Ismail Momoniat‚ the deputy director general of tax and finance at the National Treasury‚ said this on Thursday during the launch of the SA Savings Institute of SA."We have an economy that is in negative growth territory and unemployment has been rising."The more people who do not have jobs‚ the less people are going to save. People without jobs will not save‚" he said.His comment came as personal finance experts bemoaned SA's poor savings culture."The household savings‚ when we take it as an aggregrate‚ is always around zero‚ and linked to that when you have low growth and increasing unemployment means that when people do not have jobs they are not going to save‚" he said.He said another stumbling block was that people who were unemployed tend to get into debt."And even those who work tend to look after their extended family members and their spending will be high."This does not mean that a particular individual can't save."We are targeting people with a job but it does not help if they have to find money to access basic services like healthcare and school‚" said Momoniat.He added that it "was shameful that after 20 years we have not succeeded in getting high quality education at all our schools‚ and we have a situation where people are travelling long distances to access the education"."All of these failing we see mean the individual is taking more and more responsibility. We need good quality education and lack of that means people cannot do their numbers correctly."We have a situation where conspicuous consumerism is what people want and they want it now.“In our society many people have gotten rich too quickly and it’s sending the wrong message. You need to ensure you are not taking needless risk‚" he said...