Sav­ing money for Your Next W

Start sav­ing to­day to help you plan for the fu­ture, and achieve your dream

DRUM - - Advice -

ANT to kick-start your fi­nan­cially in­de­pen­dent fu­ture or fi­nally en­joy that fam­ily hol­i­day? The sim­ple act of cut­ting back on ex­penses and sav­ing money to­day will ben­e­fit you in the long run.

And if you haven’t opened a sav­ings ac­count just yet it’s a good idea to open one to­day. It al­lows your money to grow and you get to choose a sav­ing plat­form that works for you. You can choose the pe­riod of sav­ings that best suits your plans and needs – from a sav­ings ac­count that gives you im­me­di­ate ac­cess to your money to a 32-Day no­tice ac­count, and a Money Mar­ket Ac­count which al­lows you to in­vest larger sums of money, which gives you a higher in­ter­est rate. Once you get into the swing of things sav­ing money for your Next big goal will be easier than you think!

Sav­ing money al­lows you to have money avail­able when you need it – giv­ing you peace of mind and the op­por­tu­nity to work to­wards what you re­ally want in life. It’s sim­ple: set a goal, start small and get started! De­cide whether you want a short-term or longert­erm sav­ings ac­count based on your goal, which will help you de­cide when you want to ac­cess the money. Talk to your bank about the types of sav­ings ac­counts they of­fer.

START YOUR SAV­INGS JOUR­NEY

Set a rea­son­able goal that you can stick to You can save for: • Rainy days (emer­gen­cies) like a fu­neral or when a car breaks down • Buy­ing some­thing that you re­ally need/ want • To do a small project in your home or for the fam­ily Make sure you know the fol­low­ing: • Where your money is go­ing to be in­vested • What the in­ter­est earned is • What the con­di­tions of with­draw­ing the funds are.

Lis­ten up for more tips on the next episode of Iket­setse-Zen­zele on SABC African Lan­guages Sta­tions be­tween 3pm and 6pm

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.