July is savings month! Have a look at the article which Allan Gray has recently published, which emphasises the importance of compound interest. The full article is available on our website. For your convenience we have summarised it below:
July is savings month – a good time to reassess your spending decisions.
- Relative to the rest of the world, South Africans do not save enough.
- Investing even a small amount each month can make a big difference to your long-term wealth.
- Changes in behaviour can have a positive impact – instead of buying a new car, rather invest your monthly payments.
- Be disciplined. Put together a plan and stick to it.
- Avoid the temptation of taking your money out of the investment earlier than planned.
- Adopt a long term approach to benefit from compound interest.
- Understand the value of a good investment manager.
- Make saving a habit. Remember, you can’t get back time once you’ve spent it.
Investonline is one of only a few advisors in South Africa that does not charge upfront fees on monthly debit orders. Therefore 100% of your savings gets invested right from the start. Contact us if you would like to start saving on a monthly basis.
If you have any questions or would like financial advice, please contact us on info@investonline.co.za or 021-794 2469.