The KISS Method of Savings

KEEP 10% for emergencies.  Save up to 3-6 month’s income by using a high interest savings account.

INVEST at least 10-15% of your income for retirement.  Use a tax- free investment account and / or a retirement annuity.

SAVE 10% for short to medium goals. This might include buying a new vehicle, family holiday or any other “want”.  Use an investment account such as a flexible investment in unit trust funds.

SPEND 65-70% on living expenses.  Be wise.  Before any large purchase, always ask yourself if you really need it. Be aware of your spending. Knowledge is power.

Take control of your finances.  It will empower you and put you ahead of your friends and co-workers.  You work hard enough for your money, now let your money work for you.

If you need help or a financial plan, please speak to us. It is very important to have financial goals and to review them yearly to see the progress you are making.

The most important step is this: “Just do it!”  Interesting that this is Nike’s slogan.  In fitness and a healthy lifestyle you also need to take the” first step” and hopefully in their shoes!

Happy savings for 2022!

Yvonne Velthuysen

Photo by Towfiqu barbhuiya on Unsplash

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