Establishing Good Saving Habits


The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind. - T.T. Munger

Save first!

If you wait to see what's left over, you are less likely to save. Determine in advance how much money you plan to save each month. If you receive a raise, increase your savings amount.

Reduce Debt by paying more than what's required

Pay your bills on time-and pay more than the minimum amount, to reduce debt and increase your savings once the debt is settled.

Determine needs versus wants

Do you need to eat out every day for lunch? Do you need that gourmet cup of coffee in the morning? By bringing your lunch to work a couple days a week, you can save hundreds of rands a year.

Plan your long term and short term investments carefully

For long and short term goals plan what your future looks like. Chat to one of our experienced financial advisors to get insights into the best investment policies.

World Savings Day was established on October 31, 1924, during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milan, Italy. The Italian Professor Filippo Ravizza declared this day the "International Saving Day" on the last day of the congress. In the resolutions of the Thrift Congress it was decided that 'World Thrift Day' should be a day devoted to the promotion of savings all over the World.

The importance of having a living will

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Vivian

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Email: margie@pbafsa.co.za

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