Saving every day, not just for Black Friday
The festive season is almost amongst us, and many are trying to save for those year-end sales. However, saving should be done every day. A lack of financial knowledge can be the reason why people are not saving for their future. Eddie Brandt, National Manager: Group Brand Ambassadors at iMasFinance shares tips on how to make good financial decisions to ensure you can save for the future:
- Choose a reputable financial service provider. Do your research on accredited financial service providers, as it’s easy to get scammed. iMasFinance has many years of experience being a caring financial partner, we have partnerships with organisations across South Africa offering you peace of mind when signing up with us.
- Know your pocket: The first step to saving is knowing how much your earnings, deductions, and expenses are. Knowledge of your monthly budget is essential. Once you know where your money goes, you can identify which costs you can cut on such as eating out. A good rule of thumb is to save at least 20% of your earnings. Ensure that you are saving for the future, whether it’s saving for a deposit on a new car or your child’s education. iMasFinance offers financial wellness workshops to assist individuals with managing their budgets.
- Manage your debt responsibly: You may have so much debt and you don’t know where to start, the best thing to do is take it one debt at a time. The salary deduction model at iMasFinance can assists you in not missing your payments and paying your instalments on time.”. Create a debt action plan to pay your debts in time so that you don’t fall behind and become over-indebted.
- You can consolidate your debt to only have one payment to cover all your accounts. The best way to pay off multiple loans are to consolidate your debts so that you do not get caught up in a downward spiral of debt. You will be paying off one instalment and have the peace of mind that your debts are being paid.
- Make sure you benefit from your financial services provider: Getting money back in your pocket feels great – doesn’t it? iMasRewards loyalty program rewards iMasFinance customers for talking up a product and for adopting certain financial wellness behaviours through cashbacks and a special reserve fund on which clients earn interest
iMasFinance is a financial services cooperative, offering affordable loan products including vehicle finance, pension-backed home loans, personal loans, a purchase card and insurance solutions through its wholly owned subsidiary, iMas Insurance Brokers. The Co-operative offers financial wellness workshops at companies that have an agreement with iMasFinance, at no cost to the company or its employees.
A warning to be Extra Cautious with Cash! Safety with Cash and Preventing Cash Robberies and Scams https://t.co/S9TiEfO8Ze #ArriveAlive #Crime #CashRobberies #ATM @SAPoliceService pic.twitter.com/J2AL4nqbzy
— Arrive Alive (@_ArriveAlive) December 22, 2021
