Being good stewards of our money

Clever ways to keep yourself on track with your savings goals

I am having more and more discussions with clients who are finding it tough to make ends meet every month. If you are someone for whom examining columns of figures and sorting through receipts is akin to root canal treatment, then this newsletter may contain your solution.

I also share some ideas on how to participate in #MandelaDay, this being July and with many of our fellow citizens struggling to have just one meal a day.

An App to help budget and save on costs

Being a good steward of your money usually starts with a budget. I personally have found huge value in using an App called 22seven (click here). Powered by Old Mutual, it is a wonderful budgeting tool that nudges you from time to time to help you save on costs. It links to your bank account and other instruments you may select, and pulls all the information from each through.
I have found that 22seven really helps me in sticking to my budget and finding areas in which I can save, by keeping me up to date and informed. And you can be assured of safety as the app has banking security in the back end.

Stash and Save

Each month has its own budgetary demands, and sustainig your saving goals can be difficult. I love the App by Liberty called Stash (click here). This App opens a tax-free savings account for you, and also links to your day-to-day banking card. Each time you swipe your card, the App rounds up your purchase and puts the difference into your tax-free savings account. You can set the limits and amounts in the App. I would suggest using this as a long-term investment to benefit from the tax-free structure. Please consult with your financial planner to understand the regulations related to tax-free savings accounts, especially if you have an existing tax-free savings account.

#MandelaDay and me

When I feel overwhelmed by the extent of the need in South Africa, where we have such high levels of unemployment and poverty, the starfish principle reminds me that I can make a difference to at least one person. So, the call for #ActionAgainstPoverty offers many opportunities to participate in creating change. www.mandeladay.com has initiatives to join, and here are a few ideas in addition:

FTFA: make Mandela Day poverty alleviation sustainable

As official food security partner of the Nelson Mandela Foundation, Food&Trees For Africa has earmarked schools and community gardens with whom they have worked for the past year, to receive support. Get involved and your contribution – big or small – will grow to have an impact for years to come. FTFA is planting orchards and expanding food gardens in schools and communities: email emily@trees.org.za.

Warm regards
Craig

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