Don't waste your bonus, as in these uncertain times one should be saving, retail bank FNB said on Thursday.

"With many lucky people about to receive year-end bonuses in the coming weeks, FNB was sounding a clarion call for people to use this as an opportunity to start saving," the bank said in a statement.

"With the world banking and stock markets in turmoil, there has never been a better time to save," said Robert Keip, FNB's chief executive officer of savings and investments.

As a rule, people should pay off debt before investing.

"It doesn't make sense to invest while still in debt as the interest on debt is usually higher than the return on investments," said Keip.

In these times of uncertainty, one should be building up savings for a rainy day, he said.

Inflation of 12.4 percent and high interest rates were eating up available income, which made it difficult for people to survive the strain of unexpected expenses.

Keip added that job losses were on the increase and people could find themselves needing to live off savings for a few months, even years if the country moved into recession.

With the South African household savings at one of the lowest levels in the world, many South Africans are not well placed to handle hard times, he said.

Keip advised people to consider investing in the stock market, saying shares were one of the best asset classes – especially for long-term investors.

"With share prices at their lowest levels in many years, the stock market is offering great buying opportunities – especially for long-term investors – to build a strong wealth portfolio."

Sapa