As the pandemic continues to change our lives, South Africans are facing issues they could never have predicted two years ago.
What started as a worldwide health threat quickly turned into something much bigger, not only affecting our physical and mental well-being, but also wreaking havoc on our financial situation, writes iol.co.za.
"The country's lack of financial literacy has seriously compounded the impact of this crisis, and now, as so many South Africans face unprecedented financial stress, it is imperative that we make health a national priority." said financial advisor at Momentum, Ernest Zamisa.
Is there light at the end of the pandemic tunnel in the form of vaccines?
As South Africa's vaccine rollout gradually ramps up, Zamisa says opposition to its use is also growing, largely based on misinformation. The United Nations (UN) has called this misinformation an "infodemic," with errors ranging from one that alters human DNA to one that causes infertility and even death.
"The advent of this vaccine hesitancy threatens to unnecessarily hinder the country's efforts to achieve herd immunity."
Vaccination hesitancy is on the rise
A survey, published by the University of Johannesburg and the Humanities Research Council, suggests that only about 52% of South Africans would definitely get the vaccine. Among the group that expressed their doubts about vaccination, 25% raised concerns about possible side effects and 18% did not believe that vaccines were effective. Then there are the 11% who cited conspiracies or occult reasons for their hesitation.
Misinformation and the growing need for sound financial decision-making
According to Zamisa, these beliefs are even more insidious than one might think, as there is a very real financial side to choosing vaccination.
"Financial advisors can play an extremely valuable role in helping people view information objectively and helping them make the right decisions."
He added that people who spread misinformation and refuse to get the Covid-19 vaccine will have higher healthcare costs, meaning someone has to pay for that decision.