When it comes to your finances, from your earnings you need to spend some of it to cover necessities and expenses. You can then put the money you have left into your savings and investments.
But what is the difference between your savings and investments? Are they not just the same thing?
Read on to find out…
The difference between savings and investments
Whilst savings and invest... ››› more
If you're saving up for a specific goal or don't need access to some of your cash for a while, what are your options when it comes to low-risk investments?
You could opt to put your cash in the bank in a fixed deposit account or you could buy RSA Retail Savings Bonds.
So which is the better option for you?
Read on to find out…
What are RSA Retail Savings Bonds?
RSA Retail Savin... ››› more
You can now apply for your own tax-free savings account.
The government introduced the scheme to help incentivise South Africans to save. You can now save R30,000 a year, tax-free.
And the accounts aren't just limited to cash. You can use them to invest in unit trusts and other investment products.
Let's take a closer look…
Tax-free savings accounts came into effect yesterday
Y... ››› more
We all do it. Wasting money on purchases we don't really need, that is.
Impulse and emotional purchases play a large role in our bad spending habits. Acknowledging our money mistakes is the first step towards building a more secure financial future.
What are the most foolish and most avoidable bad purchases we make on a daily basis?
1. (Unused) Gym memberships
Congratulations to y... ››› more
Are you already working on your New Year's resolutions? The start of a new year is the perfect time to set new goals for yourself and get rid of old habits that are slowly but surely damaging your health.
The dawn of a new year is also the time when you need to reconsider your financial situation. If you've been struggling to save more in the past, but have failed to do so, you can make it your... ››› more
In March, you can start to take advantage of tax-free savings accounts. The move by the National Treasury is to encourage South Africans to save.
So how should you use your tax-free savings to your advantage? And should it form part of your retirement planning?
Let's take a closer look…
How tax-free savings accounts work
In four months’ time, you’ll be able to invest into your... ››› more
Planning on having Christmas on a budget this year? It can be quite frustrating to stay within the budget during the shopping frenzy of the holiday season, when everyone is busy spending money.
In order not to go overboard with your holiday spending, implement some sound personal finance tips.
1. Trim your Christmas gift list
If your Christmas gift list includes many members of the ext... ››› more
Christmas is on its way and so the shopping frenzy begins! As exciting as this time of the year may be, it's also one of the costliest. If you have a big family and tons of presents to buy, you're likely to go bankrupt before Christmas even begins!
If money is an issue this festive season, there are various ways to reduce your expenses and enjoy Christmas without going overboard with your spend... ››› more
When the economy goes sour, more and more people start reconsidering their spending and readjust their budgets.
However, saving should be a priority for you regardless of the state of the economy. If you get into the habit of saving, up will live much more comfortably knowing that you still have control over your financial future.
Special: How to Grow Rich – Privately, Independently and S... ››› more
When it comes to your personal finances, the first thing you need to do is ensure you have adequate savings.
Without savings, you can't invest, you can't plan for the future and you can't make adequate plans for your retirement.
Once you start to save, the world of financial possibilities opens up to you.
So what should you do to get your savings on the right track?
Read on to find out... ››› more
Whether you're a big spender or you simply can't stick to a budget, it's always a good idea to learn to be more frugal.
Embracing the frugal life may not be all fun and games, but it will surely be worth it in the long run. When you draw the line at the end of the month, it's crucial that you see some improvements regarding your spending habits.
Here are five simple ways to embrace the simpl... ››› more
Unless you're exceptionally self-disciplined and frugal, you probably have a difficult time saving money on a regular basis. The less you earn, the less you feel encouraged to save, but that doesn't mean that those who make plenty of money are big savers.
Everyone has a hard time saving because, let's face it, being frugal isn't fun. Even if you consider yourself more of a spender, don't get d... ››› more
Small changes can make a big difference when it comes to your financial future. Even if you're not much of a saver, you can always turn your life around by establishing a savings fund.
Financial freedom is not easily achievable, but it is worth the effort. You can instantly gain more control over your finances by starting to save regularly.
Here are some powerful tips to help you make the ch... ››› more
Do you run out of cash before the end of the month? Have you tried saving before, but haven't succeeded? Then it's time to implement some quick and easy saving tips.
As challenging as it may be to save more money, with some effort and self-discipline anyone can at least get started with saving. It's important that you save something, even if it's not as much as you would like.
Here are a ... ››› more
On Friday, the National Treasury released its draft regulations on the tax-free savings accounts that you can use from 1 March.
With several months to go until you can start using them, there may still be some changes to the scheme.
So what can you expect from a tax-free savings account? And what benefit will they have for you?
Let's take a closer look…
Why is the National Treasur... ››› more
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