Comparable options for a decent Savings Plan

[KeganFinder]

As I am successfully working a job which provides me with good income I feel I would like to Save for the first time in my life. It would be greatly appreciated if you could share any information and opinions of where,how and why I should save my money.

My Goals, some big some small, for this money are important so if you could please take these into account as there is no point to me saving for the wrong reasons.

1. Ultimately its for the first capital injection to start my own business/idea when the time comes. I Have a strong drive to make this should happen within the next 5 years so due to this I usually disregard retirement annuities as I will not have access to my own money when I need it.

2. My Credit Rating/Worthiness for future loans is also important. The only direct link I can make with this and savings is my Deposit but I know the financial world has many opportunities to hit two birds with one stone.

3. I would like to be a home owner. As a Property professional I fully understand the benefits of such a large asset. But I also believe that this must not stand in the way of my plans of being a successful business owner.

4. Other extras which I feel are important to my success include. A reliable motor vehicle still in within its warranty and service plan. A very active,healthy and well balanced lifestyle which involves alot of exercise and social entertainment.


My ideas so far of where I can save

30 day savings account with a bank
standard savings account
Investments

I have very little knowledge on all of these so any help will be well received.

 

[syntax]

You might try posting in the Financial section, might get better responses.

SSB usually has good advice, although i am sure he is getting tired of responding

Personally, I have invested in both satrix and unit trusts with coronation.
Both have done ok'ish for me and you can get access to the money relatively quickly.

The interest earned definitely gets you more than a 30 day or standard savings account.

 

[Jet-Fighter7700]

anybody tried these share builder accounts before? specifically the FNB one?
Heard you can get kruger-rands with some of them...

or is it for the few odd people out there who hear about shares and want to jump into it,
I really want to give it a shot but never hear about anything good or bad about them,

anybody given it a shot before, pro's/cons?

one thing for sure , never going to give my money to radovan krejcir at moneypoint

 

[Freaksta]

Many a many threads about this, the basics are that a normal bank saving account doesn't beat inflation therefor these are out of the picture for anything more than a month or twos worth if buffer money.

You are left with investments
Active unit trusts usually have higher fees, look at coronation etc
Passive ETFs have lower fees and decent return but carry similar risk as active funds. See etfsa, Satrix.