Personal Financial Management
Financial management & managing your personal finances includes activities such as effective use of your money, budgetting, using the power of compound interest for your savings as well as prudent spending.
Do not be like most South Africans who do not save & rely on credit.
Savings made by South African households account for just 1.7% of GDP (2012) compared to those in China accounting for 22% of GDP.
The SA government has been trying to tighten up & regulate lenders more strictly as well as to encourage financial services companies to offer better savings products to entice consumers to put more into savings from their monthly income.
Just remember to get the most out of your money, the younger you are when you start saving the more you will have when you reach 65 years of age even if you stop putting money away every month – just start at a young age & you will reap the financial rewards.
Financial Products To Help You Manage Your Personal Finances
There will be times when you may require bridging finance, a quick personal loan or a home loan negotiated at the very best rate – review the products below which will connect you to some of the very best financial options available in South Africa and abroad.
1. Save Money On Your Car Insurance
Hollard insurance provides the ideal product for the South African motorist by only charging you for your insurance cover while you drive.
The key benefits for you will get with Hollard Pay As You Drive Car Insurance;
- You only pay for the actual kilometres you drive
- You will pay cheaper premiums because with Pay As You Drive motor insurance you only pay for the actual distance you travel
- You will get up to R10 million for third party liability cover
- You will get free Accidental Death cover of R15,000
- You could pay significantly less than having full comprehensive cover through other insurance companies which means that you will realise a massive monthly saving which could be invested in a unit trust for future growth.
2. Short Term Loans
Should need some extra cash to take advantage of a special sale price that will save you money in the long run or just need some money to get you through a bad patch & avoid defaulting on your monthly commitments you can usually get a fast personal loan without too much trouble.
If your credit record is good then for short term funding it is recommended that you approach your bank or any main stream bank or financial institution as your loan will be subjected to a lower interest rate than other lenders.
However, if you have a poor credit history or you are blacklisted you can try applying at for a loan for anything up to R150,000 with this lender here.
3. Debt Consolidation
Should you need to manage your monthly payment commitments for effectively you could consolidate your debt to save money & pay off your debt quicker.
Getting a debt expert manage your overwhelming debt will help you get a clean credit record to set you up for a secure financial future