Cape Town - Though physical circumstances contribute to why South Africans are so bad at saving, it runs much deeper than that, success coach Michele Steyn told Fin24.
“As humans we have developed a wanting mindset. We are wired for pleasure. We have to change our habits in order to get from a wanting mindset to a savings mindset.”
Steyn explained that when we spend, our brain releases the feel good hormone called dopamine. "It's like we are on a high, which leads to instant gratification."