Five Practical Ways To Save
Finweek English|13 July 2017

Five practical ways to save Putting money into a savings account is not just for your own well-being – it can also have a massive impact on the economy as a whole.

Schalk Louw
Five Practical Ways To Save

I ‘m sure that many of us have looked forward to a salary increase or annual bonus so much that we just went ahead and shamelessly spent our money on all the desirables we’ve been looking forward to all year even before payday. Sobering is that moment when payday arrives without your expected salary increase or bonus during a time when the prices of necessities such as electricity and fuel are skyrocketing. Suddenly you find yourself staring at a negative bank or credit card balance, and the month has barely begun.

But don’t blame only yourself for your subjective judgment on spending habits – the entire South African economy has been heading down the same path for quite some time.

Local GDP declined by 0.7% for the first quarter of 2017, after declining by 0.3% in the last quarter of 2016, which means that we now officially find ourselves in a recession. After our downgrade to junk status earlier this year, the Reserve Bank, which normally would have lowered interest rates after such figures have been released, would have to think twice before taking action. So ultimately, things don’t look so good for the rest of South Africa.

Esta historia es de la edición 13 July 2017 de Finweek English.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición 13 July 2017 de Finweek English.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE FINWEEK ENGLISHVer todo
THE HEALTH OF SA'S MEDICAL SCHEMES
Finweek English

THE HEALTH OF SA'S MEDICAL SCHEMES

As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.

time-read
7 minutos  |
5 November 2021
The effect of Gilbertson's departure
Finweek English

The effect of Gilbertson's departure

With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.

time-read
3 minutos  |
5 November 2021
Making money from music
Finweek English

Making money from music

Why investors are increasingly drawn to the music industry.

time-read
3 minutos  |
5 November 2021
Conviction is key
Finweek English

Conviction is key

Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.

time-read
5 minutos  |
5 November 2021
The post-pandemic toolkit
Finweek English

The post-pandemic toolkit

How CFOs can use technology to support growth.

time-read
4 minutos  |
5 November 2021
Big city living exodus
Finweek English

Big city living exodus

Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.

time-read
3 minutos  |
5 November 2021
Big compact, big value
Finweek English

Big compact, big value

Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.

time-read
3 minutos  |
5 November 2021
On barriers to entry
Finweek English

On barriers to entry

There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.

time-read
2 minutos  |
5 November 2021
Fear and greed in one index
Finweek English

Fear and greed in one index

To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.

time-read
3 minutos  |
5 November 2021
Africa's largest data centre facility coming soon
Finweek English

Africa's largest data centre facility coming soon

Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.

time-read
3 minutos  |
5 November 2021