Saving is important. We hear this a lot and in most cases, we don’t see this as a possibility in our financial lives. There’s a lot of bills to pay and rarely enough money to cover those expenses, let alone putting money away for a rainy day.
Tag Archives: budget
How much should I save and how can I save
South Africans are not saving enough. We often read about famous sportspeople who have retired poor because they could not understand the importance of saving when they were at the pinnacle of their careers.
Understanding interest rates
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.
Looking to buy a house? Consider these following tips first
One of the things that come with growing up is having to leave your parents’ house and move into your own. Many people tend to make a mistake of buying a house without doing any homework.
What should you be saving for?
How many times have you read or heard that you should have at least 2 months of your salary saved up for emergencies? Countless times, right? While hearing it may be exhausting, it is a fact you can’t ignore.
Ways to set your savings goals
The first step on your ‘savings journey’ is deciding what it is that you are saving for. Having an idea or a goal helps you decide on the amount and the estimated length of reaching it.
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.