1st Job, Need savings advice

[lholhos]

girl friend is a surgeon in a public hospital.
The interns there get payed 40k per month

Damn! How much is your GF getting payed?:wtf:

 

[Electric]

Op probably lives with his folks.
That sorts out a large whack of change to save.

 

[Mr Feesh]

Damn! How much is your GF getting payed?:wtf:

lets just say well

 

[saturnz]

Buy a good sectional title property, good financials and body corporate and pay the bond off as quickly as possible- everyone needs somewhere to live.

Over 20 years, you would have made a return of at least 9%pa, together with any capital appreciation and potential revenue streams. Sectional title is not high maintenance, you pay a levy which will cover most things going wrong, you can start renting it out initially and generate a rental loss which will reduce your tax paid as well.

 

[dunkyd]

AG will give you 20% pa. Put in monthly whatever is over on payday.
Takes only 5 days if you need cash.
Choose their top 5 unit trusts and spread you investment.

 

[Mr Feesh]

AG will give you 20% pa. Put in monthly whatever is over on payday.
Takes only 5 days if you need cash.
Choose their top 5 unit trusts and spread you investment.

is there a minimum monthly amount you have to deposit?

 

[dunkyd]

Don't have to put in monthly.

 

[lholhos]

.................
22Seven (Paid): https://www.22seven.com/

2. Build an emergency fund

An emergency fund is usually 3-6 months of your monthly expenses. The funds should be accessible quickly incase **** hits the fan. Don't see this as an investment.

Placed these funds in an interest bearing account so your funds can "try" to keep up with inflation. The account can be with a bank (Capitec offers around 4-5%) or a money market account. AG offers this too.

Note, the funds must be accessible in the short term (24hours?). Don't apply for fixed deposit accounts.

3. Investments

Start building up your investment portfolio. Consider fees, they can easily break your investment.
EFTs and Unit trusts are an attractive investment vehicle; you should consider investing in these. EFTs are usually a low cost investment which can be brought through Satrix, most banks, and EFT SA (www.eftsa.co.za).

Again, don't put all your eggs in one basket.

If you are unsure of which EFTs/Unit Trusts to invest in, consult an independent financial adviser.

I started using 22seven 3months ago, best R25 i have ever spent. Showed me where money was going. Airtime, prepaid Data bundles, loaning money to friends and family and dinning out were there biggest culprits that were making me not save. I am not paying myselft first.

 

[TimWarren12]

yeah that amount saved is unbelievable! cool though....if its true

 

[Messugga]

girl friend is a surgeon in a public hospital.
The interns there get payed 40k per month

Not quite. Interns start off on 25k after deductions. That gets bumped to 28 in their second year. Then it's community service time, which is more lucrative. R600k pa nett.

 

[Alley3000]

I'm in the wrong industry... :wtf: