I was just surfing the web and I noticed this website: “The best 100 money tips ever!”
They’ve got some REALLY good tips for saving and earning money, and if you can read all the way through the article, I’m sure you’ll learn something. It might even be good to print it all out and make yourself some reading material for the bath.
Of course, some of them are really obvious:
58. Donâ€™t fly now, pay later. It is very depressing to be still paying for a holiday (or any other luxury) five years later, when you want another.
57. Beware of plastic. Store cards and credit cards may be convenient, but they are also an easy way of running up debt.
Some of these money tips were probably told to you by your grand father:
1. Save 10 cents from every R1 you earn. If you put away at least 10 percent of your income as part of a long-term savings plan, there is a good chance that you will have a financially secure future and be able to attain your financial goals.
But there are some that I haven’t heard before:
13. A product offering a range of underlying investment product choices, such as a wide collection of unit trust funds, is often not in your best interests and may come at additional cost. Be very cautious if anyone recommends that you invest in a linked investment product with a wide selection of underlying investment choices. Remember that linked investment products come in many forms and are also offered by life assurance companies. The simpler and cheaper solution may be to invest in a properly diversified unit trust fund, such as an asset allocation fund that offers underlying investments in all the main asset classes, such as cash, bonds and shares.
66. Always have a lawyer check a property deed of sale before you sign up. Also make a deed of sale subject to conditions such as a proper inspection being done, if you suspect building faults, and to raising a mortgage bond, if you need one.
80. Do not take out a life assurance investment contract for more than 10 years. You donâ€™t know how your financial position could change. At the end of the period you can always extend the contract, but if you have to cut it short, there are penalties involved that could see you getting back less money than you paid in. The main reason life assurance sales people attempt to get you to take out longer-term policies is because they receive more commission.