WHEN you’re living from pay cheque to pay cheque, the idea of saving for a rainy day can seem like a pipe dream. But if there’s one thing we know for sure, it’s that there will always be rainy days.
Unexpected medical expenses, car repairs, a school trip you hadn’t planned for – financial curveballs come in many forms and it definitely helps to be prepared for things that are not included in your monthly budget.
When the unexpected happens, we need to ensure it’s not financially ruinous, says Simon Brown, founder of trading and investment education platform Just One Lap. “Even a small unexpected bill could see us having to go to a loan shark or sell assets or investments.”
“You also need an emergency fund to carry you in the event of losing your income,” says Gugu Sidaki, director and wealth manager at Wealth Creed.
THREE REASONS YOU NEED IT
Denne historien er fra 28 November 2019-utgaven av Drum English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra 28 November 2019-utgaven av Drum English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Homegrown Heroes
Drum speaks to two volunteers in the Covid-19 vaccine trial and the professor heading the team in Africa
The Big Clean Up
Whenever a Covid-19 case is confirmed at a shop, they call in the deep-cleaners. We find out exactly how they disinfect stores and supermarkets
I'm Back & Better!
Babes Wodumo shares what she’s been up to in lockdown – and there’s some new music on the horizon
Not An Easy Ride
Taxi commuters and industry players tell DRUM what’s driving them to defy lockdown rules
Mam' Mary Bows Out
Iconic actress Mary Twala is fondly remembered by friends and family for her humour and talent
‘They Lived For Each Other'
This Cape Town teen’s parents died from Covid-19 on the same day. Now she’s alone and battling the virus too
Stranger Than Fiction
For actor Mangaliso Ngema and his daughter Khosi Ngema, her role in Blood & Water was like watching their family’s real-life story unfold
I Was Raped By A Pastor
His accusations against a well-known man of the cloth turned an Eastern Cape man’s life into turmoil but now more victims have spoken out
My Fight With Life And Death
More Covid-19 patients, too few beds and staff, constant sanitising and personal fears – a Western Cape doctor shares her experience
I AM ENOUGH
Ten years after being set alight, Thembi Maphanga is living life to the fullest
