Publish Date: 11/07/2018
5 reasons people don’t save money
With the high cost of living in South Africa at the moment, saving money for a rainy day is little more than a dream to a lot of people, but it need not be.
In this article we offer insights into saving money, the importance of a high interest savings account, the best savings account to have and how to formulate a savings plan for your future.
But before we get into the nitty-gritties of saving, let’s look at the top 5 reasons people say they are not saving money today:
Bearing the above in mind, if you get to the point of starting to save some of your hard-earned money you want it to be worth your while.
Things like high interest savings accounts and tax-free investment accounts make saving money worthwhile.
It is, however, important to do your homework when shopping for the best savings plan and best savings account.
Consider a Notice Deposit account, which includes the option of a 7 day notice account, from African Bank. A notice deposit account earns you interest from day one and you can choose the notice period – seven, 32 or 90 days.
To grow your money even faster, you can set up a debit order or make your own regular deposits, from as little as R100. And, when you want to withdraw your money, you just give us a call.
It only takes a small deposit to grow your investment. Obviously, the longer you leave your money in a savings plan, the bigger your reward.
The good news is you do not need a fortune to start saving or making smart investments.
PREPARED ON BEHALF OF AFRICAN BANK BY CATHY FINDLEY PR. CONTACT JACQUI RORKE ON [email protected] OR (011) 463-6372 WITH ANY CONSUMER PR QUERIES.
About African Bank
Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.