Posts categorised by How to money
The good, the bad and the wealthy 💰
The key to building wealth and increasing your net worth is to generate long-term income over and above your normal, job-based income. The best way to do this is through a combination of savings, investments and income-generating assets. Assets can be divided into two categories – tangible and intangible assets. Tangible assets are those you… Read more →
How to use ETFs to grow your wealth ETF Series #1
There are plenty of options available to grow your wealth. For instance, you could buy shares in a company, purchase an investment property, invest in cattle or start your own business. However, none are as accessible, easy, inexpensive and tax effective as Exchange Traded Funds (ETFs). An ETF is a type of passive fund that holds multiple assets which attempt to track the… Read more →
The Downside of Debt
Today’s guest blog post comes from Stealthy Wealth. Most people are aware that when you buy something using debt you end up with a total bill quite a bit higher than the sticker price of the item thanks to interest. Interest is the price you pay for the privilege of owning something immediately and only… Read more →
Reducing Your Long-term Loan 🏦
Picture this: you’ve just bought the house of your dreams. A few days pass by and you start thinking about the loan attached to the house, which needs to be repaid – a period that usually lasts anywhere between 20 to 30 years. It’s alright to think of the implications of taking out the loan,… Read more →
Mindful Buying 🛍
Have you ever been caught between two worlds, where your heart says one thing and your mind says the opposite? The concept of mindfulness has recently gained popularity as a way of paying attention in a particular way – on purpose and in-the-moment awareness without any judgment. Mindful eating and mindful moving are popular terms… Read more →
Money doesn’t talk
Money is right up there with politics and religion being one of the no-go topics. Studies have shown that 51% of people don’t speak at all about money with their friends OR family. However, speaking about money is a factor in being financially healthy and meeting financial goals. With women and minority groups throughout history… Read more →
Good Debt vs Bad Debt
Have you heard of a friend or family member boasting about the amount of debt that they have? You probably think that they’ve lost it and immediately lecture them on the dangers of debt. After all, it’s the first thing that pops up in most of our minds. Debt has received a lot of negative… Read more →
The Best Investment Account 📈
The words saving and investing have different rings to them they both have a place in your wealth creation journey. Saving should be more short-term, around 3 years or less, for things like planned future purchases or emergencies. You should have funds saved up before diving into investing. Many people find out the hard way… Read more →
How the Repo Rate Cut Affects You 📉
The SARB has announced yet another reduction in the repo rate from 3,75% to 3,5% last week. This 25 basis point* reduction will have an impact on all South Africans, so we’ll break this down into how this affects you as a consumer, investor and saver below. The repo rate is the interest rate as which the… Read more →
Do-It-Yourself Investing
Investing your own money is important if you want to build your wealth. Investing enables you to generate future returns which can help you save for retirement or meet long-term goals. Of course, you have the potential to lose your money in investments but if you invest wisely, the potential to gain money is higher… Read more →