Once A Week

How to create your financial plan? "If you fail to plan, you plan to fail", the wise words of Benjamin Franklin. And this applies to your financial plan as well. But how do you create a financial plan? Write it down This may seem like an obvious one, but I myself have skipped it in past times. Writing down your goals and plans can significantly increase the odds of you keeping them. Because while you write, you think through your plan and iron out any creases. This will leave you feeling more confident. Automate The easiest way to save or repay is to automate the process. As diligent as we may be, the temptations of our world are real! So don't tempt fate, automate! With all major banks offering scheduled payments and debit orders. Automate your savings and your repayments to avoid having to think about or forget about it. Formulate your savings and repayment plan and then automate to make sure you stick to it. Do good research upfront! T...

How to save money in tough times The tough times are the last place you think about how to save money! Especially when you have lost your income or your income get reduced! There are then more important things to worry about, and you may even have to dip into your savings. And that is okay. But Saving is not just an action, its a habit. And I believe in saving even just a minimal amount to help you save. So here are some fun, creative ways to keep the habit going! Keep a cents jar All those 10c, 20c, and 50c can add up to more than just a few chappies. I managed to save R10 a month by doing this. Which may not sound like much but every bit helps and every cent saved is worth more in the future! Make it fun by customizing the coin jar, or find a piggy bank! I have a blue one I got free with a promotion a Dros years ago. Image by Devanath from Pixabay Have a swear jar Yes, the good old swear jar! You've seen it on so many TV shows, I couldn't lis...

Top Investment Tips to use right now to grow your wealth! Investing is imperative to building wealth and 2020 is the year of opportunities. With a global pandemic form new value, now is a better time than ever to invest in top-quality investments. These are my Investment tips. 1 Make an informed decision It sounds simple; however, I have seen many people becoming “Day traders” overnight! This is the best tip I could give for first-time investors! Make an informed derision. Success in investing is understanding what you are investing in and how you are investing in it. I personally have little to no knowledge of in-depth computer software, so I cannot judge a Software company on its new software due to my lack of expertise. I would need to look and invest in something I know and understand in order to succeed. Do some research on Warren Buffet's investment Tips and learn from his expertise! 2 Take into account Risk! Risk is a very controversial topic with many o...

What are Bonds? Should I invest in Bonds? Bonds, loans, debt. They have a reputation for being very safe with minimal returns. Is this true? What are Bonds? Should I invest in bonds? What is a bond? Bonds, loans, and debt are a type of investment where you buy the debt of a company, institution, municipality, or government. The return earned is on the rise in value of the bonds, as well as the yield/ interest rate paid. Think of it as you acting as the bank, you loan the money to Joe and he pays you back plus interest. Government Bonds are often considered the safest option as a government is very unlikely to default or not pay their debts. Companies or corporate bonds are often considered a higher risk as they could go bankrupt. What is the bond market? A bond market is similar to the stock exchange where bonds are traded. These markets bond markets are often available only to wealthy individuals and institutions. Where do I invest in Bonds? The Bond Market We know what the stock mark...

Budgets as I showed in my previous post " Budgets! Agg… " are not the old boring things we were taught in school. We control our budgets as our destiny. So here are my Top 4 tips for Dominating your budget! Pay yourself first Yes I know that sounds weird. But you worked hard for your money and you should benefit from that. So spoil yourself sometimes and spend on yourself in furthering you. From Excerise, to studies, to books and courses. Pay yourself first DIY! So I know most of you are probably not Handymen/women. And if you're anything like me it could be dangerous if you were. But doing some basic fixes around the house can save you money versus calling in a repairman/women. SAVE! Savings as I have stressed before are very important! Especially for emergencies! As COVID19 has shown a lot of us, Savings can help you get through these difficult times. Have a Misc section of your budget Misc. or miscellaneous are expenses that are ...

"No Guilt. No Excuses. No BS. Just a 6-Week Program That Works". This is our I will Teach you to be Rich Book Review. Ramit Sethi, who Forbes called a "Wealth Wizard", has one of the best New Day Finance books on the Market. Available both on HardCopy and on Audible! He covers exactly what our blog is about....simple, easy to understand, and it works! The main principles of this book are: How to get rid of Debt! The Method to setup low cost bank accounts The Strategy to Automate your finances How to Save lots of Money Every month! An easy and low maintenance investment strategy How to handle the financial stresses of life (Buying a car, Getting Married, Buying a house, Traveling, Having kids) The best negotiation strategy to get Salary Increase Ramits philosophy of "Buy all the Latte's you want" i.e. focus on the big stuff or stuff that matters is relatable to us in real day life! I will Teach You To Be Rich is an Easy to Re...

 "My wealth has come from a combination of living in America, some lucky genes, and compound interest." – Warren Buffet. Here we will show The Benefits of Compounding! From the man himself Warren Buffet! Warren Buffet is known as one of, if not the best investor of our time. He is one of the richest men in the world and has pledged $50bn to charity, mainly the Melinda and Bill Gates Foundation. Now we don't all have the ability to live in America, we have no control over genes, but we can compound. What is compounding? Compounding interest is the interest made when you reinvest money earned from Interest. So if you have R100 invested in a savings account. You earn R5 interest, you can either take that interest out or reinvest it. Reinvesting that interest will cause you to earn interest on R105, not just R100. Causing you to earn more interest. Now this seems easy, but the real magic happens over times as shown in the table below, The Benefits of Comp...