Saving often seems hard at the beginning because it requires discipline and patience. Most people think they don't have enough money to save but you can start saving with just P5! The most important thing is to have a goal and plan for how to get there.
Plan your savings goal.
Determine how much you need to save monthly to achieve your goal.
Adjust your budget to reduce unnecessary expenses.
Add your savings amount to your budget.
Ensure your money is transferred to a separate savings account.
Determine how much you need to save monthly to achieve your goal.
For these accounts you must give your bank notice when you want to withdraw your money.
These accounts are for short-term investments of less than 12 months.
A Unit trust is a saving and investment product where a group of individual investors put their money together for the purpose of investing.
Let's get you registered
Simply switch
Retirement savings: these are long-term savings options that provide a pension which is paid out monthly or as a lump sum when a person retires.
Pension fund: a long-term saving that provides a person with a pension when they retire.
Provident fund: a long-term savings that provides a lump sum payment to a person on retirement.
Retirement annuity: a long-term investment where a person saves regularly to give them an income when they retire.
Property investments: this is a long-term investment in a property that is rented to a tenant or an investment in a property fund which invests in publicly-listed real estate companies.