South Africa is rated as being one of the most indebted countries in the world.
Becoming a saver means forming a habit. You need to get into the habit of putting at least 10% of your salary into some sort of savings at the BEGINNING of each month. It is crucial that you do this at the beginning of the month so that you don not spend that money. If your strategy is to save the money that you don't spend at the end of each month - you will end up saving on average a lot less than 10% of your salary.
Savings will allow you to access money and not need to take out a loan. You can use your savings for new home furniture, holidays, weddings, fix your car. It acts as a safe for when you need to access money quickly.
Fincheck is a financial comparisons website that organises information to assist the borrower in making their best financial decision.
Fincheck gathers information from numerous banking partners and presents it to the borrower in a simple, understandable way. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal details to control their risk and assist the government to combat theft, money laundering, terrorism. Fincheck does not endorse any particular product or company. We are an independent company. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.
Copyright 2020 Fincheck.co.za