Savings & Investments

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When should you start investing in tax-free savings?

27 February 2015

Changing South Africa’s bad savings culture will be no easy task but examples of other emerging markets who have succeeded in this area provide important learnings. Government-led initiatives are key, and all the better if industry too becomes a catalyst for change through better financial education and innovation that encourages much-needed prudence. But the bottom line remains: no matter how small, the sooner individuals begin saving, the better. So in order to effect a new generation of savers, how soon should one begin saving?

Where does all my money go?

24 November 2014

This is the refrain of many individuals trying to make ends meet and keep up with the demands of modern life. We spend like a rap star when we see our salaries hit our bank accounts but are sulking like scrooge when the middle of the month comes. Technology has been a massive aid to our productivity and the convenience of internet banking is revered by all. However easy access to money does have a down side. Using virtual money in the form of debit and credit cards removes us from the reality of burning through our cash. It is way easier to spend money when you don’t see the notes fly from our wallets or purses. This overspending impacts our ability to save and compromises our financial wellness.

Why are South Africans not saving more? SA’s savings dilemma

20 November 2014

South Africans are frequently criticised for being notoriously bad savers. This label is borne out by a recent study which shows that only 20% of South Africans have any kind of formal savings with a recognised financial institution. We don’t compare well internationally either: even compared to other BRICS countries South Africa has the lowest savings rate at 13.5% with a household savings rate of just 1.7%.

Changing mindsets from a young age

10 September 2014

We have all been through the phase where we have just graduated from our tertiary studies and we enter into the workplace. We feel like the world is at our feet and can achieve anything.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

View the Results