Since I posted the daily savings challenge plans two posts ago, a few readers requested that we embark on a monthly savings challenge as well. It makes perfect sense as most of my readers get paid once a month.
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| monthly savings challenge |
Anyway I also want to thank all of you for joining the savings drive. Those who follow us on Facebook have sent amazing messages. Remember to like our Facebook and our Instagram page. It is easier to inspire and encourage each other in social media platforms. And our hashtag is off course #SavingCommunitySA because we are building a community of savers.
We will once again choose the plan we are comfortable with from the four in this article. By the end of the month or whenever we get paid, we will open our emergency (or any) fund accounts. We will post the suitable accounts here for each reader to choose. The 24 hour (one day) notice account requires about R500 initial investment. The ETFs require about R300 per month. Please remember that each plan has our investment or own contribution and no interest added. We will save everything in interest bearing accounts or stocks.
- Emergency fund.
- Children school fees fund.
- Deposit on their home.
- Deposit on their car.
- Investment for retirement.
- Investment for passive income.
- Business capital.
- ETC.
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