Community

Share knowledge. Find answers. Ask questions.

Community blog

Read our latest news and views and get to know us better

Make saving a priority
Senior Member
Read more blogs in

Make Saving Count

 

July marks the beginning of National Savings Month, which serves as a reminder to South Africans to review our attitude towards saving.

Developing a savings culture requires a goal and a lot of discipline to be successful in the long and short term. This remains important not only when the economic wheels are well greased but also during an economic downturn.

A big part of reaping the rewards of your savings is to consider how and where your money is saved and for how long. Standard Bank offers some great options for personal savings in determining ease of access to your funds, confirming how long you’d like to save for and if you’re able to transact on your account while saving.

Sometimes the savings journey starts with a few simple steps – but the benefits down the line will be enormous.

Some savings tips to consider;

  • Save any extra cash you receive
  • Be honest about your needs vs wants Design a budget and stick to it
  • Cut back on debt and save more when debt servicing costs reduce
  • Decide from the range of savings accounts, the best account that suit your savings goals


Another savings option is the recently introduced Tax-free savings account, launched earlier this year. With this account you can contribute R30 000 per year or R500 000 in a lifetime.

For more information on our savings solutions, including the new Tax Free savings offerings, please visit: https://www.standardbank.co.za/standardbank/Personal/Banking/Savings-and-investments?cid=SO_yvd4j

 

 

Read more blogs in