True Love



Think it’s impossible to get out of debt and start investing? Makhu recommends the following:

Assess your overall debt. You can, either, first pay off the debt (s) with the highest interest rate or target your smallest debt and then move on to the bigger debt.

Build an emergency fund. An emergency fund should, at least, be six months of your salary. Your debt eliminatio­n plan is worth nothing if you don’t have an emergency fund. Have an annual savings target. This will push you harder to save — even if it means taking on another job. Sometimes, people focus so much on their salaries that they completely forget about other means of making money.

What are you saving or investing for? Remember that there is a big difference between the two. Saving is short-term and it’s money that you will most likely spend. Investing, on the other hand, is so that you don’t ever have to work a day longer in your life.

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