“I am a 31 year old dedicated saver and I have two main savings besides my pension and I want to know if they are the right investments. I've been increasing these savings by 10% each year and putting some into my bond. Do you think this will give...
The bottom line is that saving is very difficult – if it was easy our savings rate would be far higher. Every age group has its specific expenses. Someone in their early twenties is most likely paying off student loans, possibly have parents to...
"I recently read an article that stated that by investing R500 per month you can save R2.3-million. You said that this is the power of compound interest growth although one has only contributed R60 000, the rest is all growth from the investment...
Many investors will by now be familiar with the RSA Retail Bond range offered by National Treasury that offers aggressive interest rates for savings between R1000 to R5 million. What few people are aware of however is that National Treasury offers...
The average retiree will have generated savings that will purchase a pension of only 30% of the salary they were earning before retirement. It's a gloomy statistic, suggesting that we're either not well informed, are not getting the right advice or...
Knowing exactly how much electricity you use is essential if you are going to introduce an effective power saving campaign at home and save money. Your electricity bill will give you the details on what your tariff is. According to De Wet...
Bank account: All the banks offer account for children but it depends what you are trying to achieve. If you want to give your teenager a bank account to teach them how to manage their money, these accounts are good options. Alternatively open an...
Savings clubs are very popular ways to save because they form a social contract between friends which helps create the discipline to save every month. Also when you are pooling your resources you are able to make a more significant investment. Why...
Everyone loves a good deal or a discount. If you haven't already discovered sites like Zappon, Groupon, What-a-Deal, UbuntuDeal, Wicount or Twangoo (and there are more), you're missing out on some savings. You do need a credit card – though...
hile National Treasury bemoans our low savings rates and looks at ways to encourage savings, it should first look in its own back yard. In South Africa’s desperate attempt not to look “third world”, our financial authorities have burdened the...
The Department of Energy's fuel-efficiency tips might just save you quite a bit each month. Close your windows when you drive. An open window creates drag, which increases fuel consumption by as much as 20%. Multigrade oil reduces drag, so consider a switch. If you...
If you're divorced, or in the process of getting divorced, the issue of pension fund benefits is one you may want to think about. Remember that pension interest forms part of your spouse's assets, so you may be entitled to a claim, depending on your marital regime. I...
The National Treasury Department has gone out of its way to get South Africans to save. You can simply walk into your nearest Pick n Pay branch and purchase RSA Retail Savings Bonds – and there are no charges, commissions or costs involved. They can also be purchased...
Before 2007, we had little protection against unscrupulous lenders who took advantage of those of us ignorant about budgets. If we didn't have healthy spending habits, we were often taken for a ride. But the National Credit Act (NCA) has since put a stop to reckless...
FNB and the Automobile Association (AA) offer these really helpful tips that could save you money in the long run. Used cars have to pass a roadworthy test – ask for proof of roadworthiness. All legitimate vehicles have three main identity numbers, the number plate,...
Pay off debt: It is always best to pay off high interest debt like your credit card. If you want to use your credit card for convenience set up a debit order so that it is paid in full at the end of every month. Emergency fund: Everyone should have an emergency fund....
I recently wrote about how a R200 a month investment became worth R35 000 by just investing investing in Satrix 40, an index-tracking exchange traded fund. I mentioned that the returns could have been even better if I had selected one of the top performing unit-trust...