As the Year begins lets start saving

Last year I saved little from the begining of the year and i was amazed about the results  this is how i saved   ( this is in rands )

week 1 saved R10
week 2 saved R20
week 3 saved R30
.
.
.
week 50 saved R500
week 51 saved R510
week 52 saved R520

in total, I have saved R13 780.
this is enough to  deposit a car, or go on a holiday .

I am doing it again .



  • Irene Lyimo
    Anna,

    I think strategy will do,since we are from different back grounds.
  • Tinuola Aina
    Great stride in the right direction. However, in my opinion, it is always best to invest rather than save. Investing in stocks, bonds, tresury bills, Forex or real estate yields a long term return than saving in the bank. There is a 50% possibilty of withdrawing the funds if it is saved in the bank, but if the amount is fixed in an investment, it's much more secure.
    • Zanele Xaba
      Thanks Tinuola,


      indeed investing is a great idea aswell.

      but I know people who rather believe in saving , especially illiterate people , this helps them a lot  because they can do simple maths.


      from my side i have investments while i save aswell. 
    1 of 1 Replies
  • Grace Pisirai
    woow, well done dear, thats amazing.
  • Irene Lyimo
    Annah,

    I personally congratulate your attitude in saving, but I will argue to assist others on how did you come up with such figure.

    We know from humanity law, Money at no time stays but it has plans/ budget, please share your strategy for all to learn and become investors.
    • Zanele Xaba
      thank you Irene,


      do you want clarity on the calculations or the strategy ?

      The calculation is you save twice what you saved the previous week week .

    1 of 1 Replies
  • Annah Bengesai
    Impressive. the problem with most of us we want to save when wre have 'big monies', and sadly it never happens. A little can go a long way.


    Thank you for the financial lesson.
    • Zanele Xaba
      you are welcome .


      little goes a long way
    1 of 1 Replies
  • Dr Rejoice Shumba
    Well done Zanele.

    Indeed, a culture of saving should be developed especially among women so that we can build assets and leave a legacy for our children.
    • Zanele Xaba
      That is True , Legacy  should be what we work towards
    1 of 1 Replies
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