What is the best way to save?

By admin
15 December 2013

  • Buy a policy

The best way to save is to buy a policy from your bank or one of the big insurance companies, such as Old Mutual, Liberty Life or Sanlam. Ask for education policies. You will be able to buy a policy from as little as R100 per month, and you will have the option to pay more into the policy if you get a bonus or (let’s hope) win the Lotto.

  • Save on your own

You can save on your own without buying a policy by putting an amount into a savings account every month. However, the interest on a savings account is not as good as an education policy, and you will get less for your money. The temptation will also be there for you to use that money when times are tough.