Have you ever kept track of how much money you spend on groceries every month? The results might surprise or even scare you.
Since groceries are becoming more and more expensive, we need to look for efficient ways to reduce our grocery bill and save money.
Eating at home instead of dining out is one of the best ways to save money in the long run. It can also be much healthier, since you wou... ››› more
Saving for retirement should be a lifetime goal. However, due to a lack of proper planning or resources, most people do not save even half of what they should be saving for retirement.
If you've just started saving for retirement or are approaching your golden years and want to give your savings a boost, here are some tips to keep you on the right track.
Retirement savings tip #1: Save more, ... ››› more
We all know that we should save more money, yet we keep making excuses and end up wasting more money than we should.
We need an emergency fund that we can access anytime to cover unexpected expenses, as well as a long-term savings account.
Most people do not have enough savings to cover unexpected expenses for health care, car repair, or other type of emergencies.
To protect yourself fro... ››› more
To mark National Savings Month, one man is getting in touch with his finances.
At the beginning of July, he took delivery of his salary in R1 coins. He can't use his debit cards, credit cards or any other form of electronic payment. He must pay for everything in R1 coins.
So two weeks into this social experiment, how is he getting on? Let's find out…
A social experiment examining the r... ››› more
If you're decades away from retirement, you're probably not putting in much effort in planning for that period. But the closer you get to retirement, the more you'll wish you had started planning and saving earlier.
Planning for retirement is extremely important if you want to enjoy your golden years to the fullest. Lack of planning can lead to a chaotic lifestyle once you reach retirement and ... ››› more
When it comes to financial planning, we're not always as qualified as we might think to make the smartest decisions.
We all want to increase our wealth and make smart financial decisions, yet we keep making the same mistakes over and over again. Such mistakes prevent us from achieving true wealth and maximizing our investments.
Here are some top financial planning mistakes to avoid making.
... ››› more
Trying to ensure that you have enough money in your retirement pot can be an arduous task.
You don't want to get to a year before retirement to find out you have a large shortfall in your savings.
And that's where the ‘annuity factor' comes in. This can help you work out how much you should be putting away a month to achieve your retirement goals.
Read on to find out what to do…
... ››› more
It is generally believed that you should save at least 10% of your income for retirement.
How much you need to save in order to have a happy, comfortable life during retirement depends on many factors, including: the age when you start saving money, your forecasted monthly expenses, and whether or not you have other sources of retirement funds.
It is best to start saving for retirement as e... ››› more
Keeping your money in cash may be one of the lowest risk things to do with it. But chances are your money isn't going to pay you much of a return.
Investing your cash across a spectrum of investment can be a wise choice. But you should always keep some spare.
Spare cash means you're in a position to jump on opportunities as they arise…
The importance of holding cash
It makes sound fina... ››› more
If you're already ploughing money into a pension fund, that's a great start. But how can you expect your pension to perform over the years? After all this affects how much your pension pot is going to grow over the years. And it ultimately affects how much money you have once you retire. Let's take a closer look…
What performance to expect from your pension fund
Your pension fund provider mi... ››› more
To be happy and financially carefree in your retirement years, you need to carefully plan ahead, invest, and make smart choices.
The retirement years can be the happiest of your life if you have a reasonable income to live comfortably. That's why it's so important to start saving for your retirement while young and to not rely solely on company pension plans.
Since many soon-t-be-retirees a... ››› more
Saving money may not be your top priority right now, but the sooner you start doing it, the better off you will be.
Why should you start saving money? Everyone has their own reasons to save money, starting from having some cash on hand in case of emergency to buying a fancy house or going on a luxury holiday.
Whatever your reasons for saving cash, it's important to know how to properly man... ››› more
When I was still only a kid at school my dad one day sat down and had a talk with me about savings. You know, the whole “put some money in the bank every year and save for a rainy day” speech.
Miraculously a bit of that got stuck in my mind and today I'm really grateful for it.
You see, without even knowing it the principle he taught me could put an extra R1,064,479 in my pocket by the d... ››› more
Ensuring that you start saving early for your retirement is the best course of action. But if like many people, you haven't put enough aside earlier in your life, how can you check you'll have what you need? Let's take a closer look at how you can do this…
How much more do you need to save for your retirement?
There are a number of factors to take into consideration to check how much you nee... ››› more
When it comes to the world of finance and investments, there isn't a ‘one shoe fits all' approach. Things can work slightly differently for everyone depending on a whole host of factors. But there's one thing that works for everyone. That is ‘start earlier and save more'. When it comes to savings, this financial planning nugget works for everybody. Let's take a closer look at why this is and w... ››› more
“Francois, I have R20,000 that's been lying in a savings account for 20 years now - I've finally decided I want to invest the money and make a return to supplement my retirement…” - M
So M wants to invest her money after years of keeping it in a savings account. Turns out she received R15,000 cash 20 years ago as part of her inheritance.
But then she made the biggest mistake she possib... ››› more
Fixed-interest securities should form part of a well balanced portfolio. They aren't going to make you rich overnight, but you know where you stand with them. You know what your rate of return is going to be. Let's take a closer look at why you should hold some fixed-interest securities in your portfolio…
An asset category that you should include in your investment portfolio is fixed-interest ... ››› more
When it comes to saving for your retirement, the most important aspect is having enough in your pension pot for your golden years. But how much should you be squirrelling away every month? Read on to find out how you can work this out…
To ensure that you’re saving enough for your retirement, you’ll need to get a bit technical, Phil Oakley in MoneyWeek explains…
Annuity factors (AF) he... ››› more
When you buy shares of Sasol, what exactly are you entitled to? The answer is: Nothing. When it comes to investing, there are very few guarantees. You can lose money no matter what you do. Most people don't realise it, but you often even lose money just by holding it in the bank. Read on to uncover how you can earn a return on your money safely…
Right now, banks are paying a paltry percentage ... ››› more
Investing is all about trading off risk and return. To get high returns, you usually have to risk losing money. Playing it safe means accepting lower returns. And with interest rates at historic lows, life has become a lot tougher for conservative investors in recent years. Read on to find out why your house beats the bank…
Hold your money in a savings account and you’ll be lucky even to mat... ››› more
Disclaimer Note that FSP Invest, a division of Fleet Street Publications (Pty) Ltd, is a research house and not a registered broker, financial advisor or financial service provider. Our editors and customer services teams also do not give personal investment advice. The advice in this website is general advice only and may not be appropriate to your particular investment objectives, financial situation or particular needs, so before investing or if in any doubt about your personal situation, you should seek professional advice from a stockbroker or independent financial adviser authorised by the Financial Services Board.
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Remember: Never invest more than you can afford to spare and that the value of any investment, and the income derived from it, can go down as well as up. The past is not necessarily a guide to future performance.
Editors or contributors may have an interest in investments commented on in this newsletter. However they have signed restraints to prevent the abuse of their position as contributors to this publication.