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After months of saving you have accumulated a tidy sum in your unit trust investment plan. Take our advice and resist the temptation to spend your savings on a new television or an exotic holiday. Instead, make a promise to make you savings work as hard for you as you worked for them. Read on for our top ideas.
- Put some of the money into your bond and save on interest
- Your house is without a doubt your biggest investment. Put your money to good use and use your savings to fund any repairs your home might need
- Talk to your broker or personal financial planner about investing the money in your retirement fund
- Allocate the money to your emergency fund or use it to start one if you do not have one. We should all have any emergency fund of at least 3 – 6 month's living expenses to protect against unexpected expenses like car repairs or financial crises like retrenchment
- Save on interest and pay off as much of your debt as you can. Be it credit card debt or a car loan, you are no doubt paying a small fortune in interest every month
- Plan ahead. If you have children, put the money aside to cover university or college fees
- The family cars should be in top condition. Give them some love and buy them new shock absorbers and tyres
- Electricity prices sky-rocketed this year and we can expect ongoing increases. Why not invest in solar power? Install a solar geyser and save on your monthly electricity bills
- Carry on saving! You are doing the right thing by saving every month. Carry on putting away as much as you can every month
You can invest in unit trusts from 1Life for as little as R500 per month. Contact us today on 0860 10 53 40 to find out more. You can apply telephonically, no written forms required!
