Publish Date: 23/09/2019
Starting your investment journey
There are several short term investment options available in South Africa, but don’t let the complexity put you off. You don’t have to be an expert to invest your money. What you need is the commitment to get started.
Many people spend so much time “intending” to invest, or “meaning” to start saving, but they never actually do it. Don’t bury your goals and the chance at financial wellness in the graveyard of good intentions. This guide will help you get your investment journey started.
Who can invest?
You don’t need a degree in finance to start investing. All you need is a goal and commitment. There’s no secret to investing either, but it does help to do your research and learn all you can on the topic. This includes understanding terms like interest rates, investment options available, return on investment etc.
How much money do I need?
Whether it’s R100, R500 or more each month, the money you invest today will give you financial freedom in your future. Investing is not for the rich only. It is for anyone who wants to secure their financial future and achieve the goals they have set for themselves.
Where do I start?
The first step to figuring out where and how to invest is determining what your goals are and when you want to achieve them. Are your goals long term or short term? If your goal is possible within 1-3 years, that’s considered a short term goal. Long-term goals are those you want to achieve in 5-10 years, like buying a house.
Once you have identified your goals, you can now choose which investment option will be best suited to achieve those goals in the time frame you have set for each.
African Bank short-term and long-term investment options
African Bank offers different investment options which boast SA’s best investment rates. Whether you’re a beginner investor with a small budget or a seasoned investor with thousands of rands, there’s an investment option for you.
Mistakes to avoid
When you’re new to investing, it’s all too easy to make mistakes that cost tens of thousands of rands or more. Knowing the potential pitfalls is the first step to avoiding them. Here are three to watch.
Knowledge is power. The most important thing you can do is start and then accumulate as much knowledge as you can. Investing isn’t that complicated as long as you’re willing to spend the time learning about it.
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'.