savings

Give a Tax Free Gift

This festive season, consider gifting your children with a share portfolio which will have far-reaching benefits for them in the long-term. Your early investment in shares can help pay for your child’s first car, university fees, give them an opportunity to travel or even take a gap year. While tangible gifts are great, they tend to lose value over time. “A share portfolio for your loved one is a wise investment choice. A plethora of research has found that shares outperform all asset classes over the long term, and now is the time to start laying the foundation for long term value …

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5 Savings Strategy Tips

During National Savings Month consumers were encouraged to pick up conversations around saving and investments; with the aim of saving more, spending less and creating awareness around effective money management strategies. While this laid the foundations to help build a cohesive savings culture in South Africa, consumers are still encouraged to maintain this savings mindset. “A savings mindset is an ongoing process and if executed correctly will help you and your family in the future,” says Ilse Smuts, Head of Marketing, FNB Savings and Cash Investments. She adds that, “The volatile …

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Avert cold showers by changing the times your geyser is switched off

Did you know that you could save 20% of your electricity bill by installing a Geyserwise unit from Straton Electrical? Did you notice that your bathwater or that welcome shower after a tough day is somewhat frostier since the beginning of July? If so, you might want to change the times when your geyser is switched off. Residents definitely noticed that during the recent forced load-shedding, the Nelson Mandela Bay Municipality (NMBM) remotely switched off more than 90 000 geysers instead of the electricity supply to suburbs, drastically reducing those inconvenient hours without …

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Uitenhage in the news: South Africa: Eastern Cape Pensioner Conned Out of His Savings

South Africa: Eastern Cape Pensioner Conned Out of His Savings: Quit your job, give us R320 000, and it will multiply to R2m. This was what two men apparently persuaded a 48-year-old man from Uitenhage in the Eastern Cape to do. Joram Nkiriho, 28, and Moses Orimutambira, 36, allegedly managed to convince the man to ... Source: "Uitenhage" - BingNews. Police ignore PE couple’s pleas for help: A Uitenhage couple hijacked after an accident in Zwide were left at the mercy of four armed men after police officers stationed at a satellite office only 220m away failed to help with the accident – …

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PE in the news: The VAT increase and your pension savings

The VAT increase and your pension savings: In the end, only you will suffer." Studio Tel (Port Elizabeth): 083 913 8 955 (VAS rates apply) Studio Tel (East London): 083 913 8 956 (VAS rates apply) Studio Tel (Garden Route): 083 913 3 866 (VAS rates apply) Whatsapp: 0617 940 940. Use the tag 'border ... Source: "Port Elizabeth" - BingNews. Tributes pour in for ANC's Zola Skweyiya: Born Zola Sidney Themba Skweyiya on April 14 1942 in Simon's Town‚ he went to school in Port Elizabeth and Retreat in Cape Town‚ but finally matriculated from the Lovedale School in Alice in 1960‚ according to …

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Prioritise your savings

30 November 2017 – Given the economic environment that we live in, managing and maintaining realistic long and short-term savings goals is important. “Time is money, especially when it comes to savings and investments,” says FNB Cash Investments CEO, Ancley Jacobs. “Start your savings journey by looking at innovative solutions that will help you kick-start your savings plan. Not only will you earn interest over time, you will also earn compound interest, which is basically interest on the interest earned in the past, as well as on the original capital. The formula is simple: the longer …

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5 Habits that stop you from building your savings

The extent to which a person is able to save depends largely on their attitude towards money and not how much they earn. Ester Ochse, Product Specialist at FNB Advisory, says “Some people don’t earn much but are able to build a solid savings base, and the reason for this is simple – they understand the impact savings can have on their finances. On the other hand there are people who earn more but are not able to save and this habit can be attributed to a number of reasons.” Here are some habits that impede people from building savings: Not having realistic financial goals - Having …

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Six ways to stretch your electricity budget this winter

Many cost conscious consumers who have converted to prepaid electricity to cut their energy bills, are still spending excessively in winter. Shadrack Palmer, Chief Commercial Officer at FNB Service Provider says FNB customers spent on average 12% more on prepaid electricity purchases during the 2016 winter period than the period after. This was subsequent to a 9.4% average price increase in April 2016. This year, the national energy regulator has approved a 2.2% average price increase which was implemented on 1 April 2017 for Eskom direct customers and will be effective from 1 July for …

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Urgent: Please use water sparingly

Nelson Mandela Bay residents are urgently requested to use water sparingly as a power failure and repairs are reducing distribution capacity Due to a power failure in the Kouga area and the simultaneous repair work of pumps at the Elandsjagt Treatment Works due to a failure, the municipality is now unable to treat and pump water to the metropolitan area. This means that the available water supply for Nelson Mandela Bay residents is reduced to 50% of our normal distribution capacity resulting in severe strain to our supply. Customers are urgently requested to cut their respective water …

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Determining if you spent your money wisely this year

Not many people take the time to review their finances at the end of the year; however analysing the way that you managed your finances can help you form the basis for your financial plan for the upcoming year. Eunice Sibiya, head of consumer education at FNB outlines a few ways to measure if you were successful at managing your finances in 2016. You paid off some debt Most consumers need debt at some point in their lives and not all debt is bad debt. However, according to the National Credit Regulator 10.3 million South Africans are struggling to meet their monthly debt repayments; …

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Energy deal signals kick-off of power savings drive

Energy deal signals kick-off of power savings drive: POWER SAVINGS: International Sales Director at Powerstar, Martin Stevens (far right), takes Rhino Group MD Brian van Niekerk and Rhino Lighting MD Heather McEwan through the company’s plant in Sheffield. Photo: (Image: Supplied) A NEW deal between two South African energy efficiency specialists – Rhino Lighting and Powerstar SA – has signalled the rollout of a globally-patented Powerstar range of voltage optimisation systems aimed at slashing the power bills of big business and industry. The deal comes as electricity costs in the country …

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Install Solar, Pay Nothing Upfront and Enjoy the Savings

Install Solar, Pay Nothing Upfront and Enjoy the Savings: In comparison to mature solar energy markets such as Spain, Australia and Germany, the solar energy market in South Africa is a young one. The barriers to entry to the Solar Energy market are well known: High upfront cost Uncertainty around maintenance Concern around maximising production Scepticism about real savings In many instances Solar PV installations are sold as ‘the right thing to do’, as a contribution to ‘saving the planet’ and lastly as a means to save energy costs. South Africans are an innovative …

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You can become financially astute

According to the South African Savings Institute (SASI), South Africa's (SA) official savings rate at the end of March 2016 was 15%, household savings rate was 1.1 percent and debt as a percentage of disposable income was 76.6 percent. These ratings demonstrate that there is still a huge gap in terms of the SA savings behaviour. Being savings month, it's important to reflect on some of these behaviours and concomitantly identify steps that seek to unlearn behaviors that adversely contribute towards financial ill-discipline. The current savings behaviour reminds me of my childhood days. …

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Steps to avoid money temptations

In a perfect world, we would all spend only what was necessary and always put away any extra cash. Unfortunately there are always temptations which make us fall into spending traps based on emotions and wants, not needs. "There are a few tricks that you can use in order to stop the temptation of overspending or dipping into hard earned savings to fund unnecessary expenditures," says Eunice Sibiya, head of Consumer Education at FNB. Only take what you need "Our debit cards, credit cards and electronic banking platforms give us access to much more money than we would have in the past, …

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Preparing for the costs of having a baby

There is nothing more exciting than a new baby on the way, but it does bring with it a few daunting cost considerations. You're shifted from being a young independent, to being someone who needs to all of a sudden, watch what they spend. Lezanne Human, CEO of FNB Savings, Investments and Fiduciary, says "Making the transition to being a new parent can be very intimidating, especially when considering the effect it will have on your finances. A new addition to the family brings with it expected and unexpected expenses; ensure that you save for both. The sooner you start, the sooner you can …

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Start saving early towards your next holiday

A well planned holiday can save on costs related accommodation bookings, flight deals, car rentals and even holiday packages. Despite the numerous bargains that are offered, taking a vacation remains a pricey affair. The answer to this holiday dilemma lies in managing your money properly throughout the year, as a way of proactively saving towards certain goals, like a well deserved holiday. "Save constantly. Every time you add money into your savings or investment account it brings you closer to your goal, "says Lezanne Human - CEO of FNB Savings, Investments and Fiduciary. Here are a …

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Saving for your Gap Year

Taking a gap year may not necessarily be for everyone, but there still seems to be a growing appeal of a gap year amongst matriculants and graduates, presenting a time to explore both the world and oneself. Depending on what you plan to do in your gap year, your finances could play a big role. Whilst gap years are exciting - a year off without an income can be quite taxing so it needs to be planned for meticulously. "Whether you are a young person who needs more clarity to consider future goals or you plan to travel before settling into your studies and ultimately your career, once you …

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Businesses turn to new technology for crucial energy savings

Businesses turn to new technology for crucial energy savings: SHINING EXAMPLE: Rhino Lighting’s Jonathan Scheepers shows off the company’s recent installation of SA-manufactured new technology LED lighting at the popular Newton Park Swimming Pool in Port Elizabeth. The new lighting has resulted in a 50% reduction in the centre’s monthly lighting bill. Photo: (Image: Supplied) DESPITE a promise by parastatal Eskom of no load-shedding for the foreseeable future, soaring energy prices have forced businesses continue to cut energy consumption. The issue has become particularly crucial for …

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