An interest rate is a cost of borrowing money. According to Bloomberg, 80% of South Africans use debt for monthly expenses and many are unaware of how much it really costs them.
Category Archives: Savings
Saving habits to put into action for a better financial future
We all want to be successful at any and everything we do, right? Saving is no different. When we start saving, we do so because we have financial goals we wish to achieve.
How to efficiently budget and save money for long-term benefits
Millennials are notoriously known for budgeting and saving behaviour that’s either lacking or non-existent, all the while grappling with high levels of debt. This is due to many contributing factors, some of which are not in our control such as the decline of our national economy.
Compound interest: why time is literally money
A lot of the times we hear that the sooner we start saving, the better. This rings true, especially when it comes to compound interest. The longer you save, the better your chances are at reaping compounding rewards.