The power of compound interest on your savings

There are many key concepts to take into consideration when managing your finances, one of which is compound interest.

By understanding the effect and benefit of compound interest, you'll be able to earn a higher return on your savings and investments. 

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New Analysis: Why ABSA killed SA's 3rd largest unit trust?

Absa's Money Market Fund, which was SA's third-largest unit trust and was worth R800 million at the time of its closure, has sparked a lot of speculation. Following the Money Market Fund's closure, the big question is:

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2020 - forever remembered as the year of the pandemic.

Lessons learnt from our strategist Sandisiwe Yengeni

As the year draws to a close (thank goodness), I have found myself reflecting on what 2020 has done to my financial plans. I came into the year with big goals of saving, especially towards retirement, travelling, and making sure I build up that safety net for rainy days. I was doing quite well, then the pandemic hit, and my well-laid plans went out the window.

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How can I start saving?

There is always a reason to start saving you just need one that resonates with you. Deciding when to start saving could make a huge difference in your financial future. Savings are defined as a portion of income that is not spent on current expenditures and put aside for when its needed. It needs self-discipline but with focus it can soon become  a habit. Here we look to provide an overview of the national savings problem in South Africa, incorporating the latest statistics. It also highlights the importance of saving, building up resilience through an emergency fund as well as a guideline on how you can start saving for your future.   

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Hygiene during COVID-19- Look after yourself and your finances!

While the world faces the COVID-19 pandemic, you need to remember that there are ways you can protect yourself from getting the virus. With the growing number of cases in South Africa reaching 1326, you should know all the options you have when it comes to staying hygienic and protecting yourself from infection. Another growing concern to South Africans is their finances. Due to the lock-down many of us find ourselves in a tough financial situation. Here are some tips on hygiene during COVID-19 both for yourself and your finances.

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You can never predict when an emergency may happen and what that emergency might cost you. It could even add to your already growing debt Be prepared and start saving up an emergency fund so you can be financially prepared for when life happens.

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