Saving for that rainy day

[Lucas Buck]

There has been threads dealing with salary dissatisfaction and retrenchment. I decided to start this thread where people with the knowledge and experience in financial matters could give us advise on how or on what we should invest our extra cash incase things go wrong. The were quite a few insightful replies with regards to budgeting in the thread dealing with salaries and I think that a thread like this would be very useful to me and many other forum members.

 

[Archer]

If you have a home loan that usually a good place to put it. Otherwise I have no idea

 

[ld13]

There is a similar-ish thread hidden away here somewhere... in any case, I would like to add my 2c.

I'm currently finishing up my studies in BCOMM Financial Planning and would like to warn people that they must not just take advice blindly from teh interwebs. No matter who said it. I might be able to recommend eg ... If you have <R10000 you want to invest/save and need 24/7 availability with fair interest rates and uber low banking costs, go the Capitec route! ... but by saying that I have not taken into account any of your specific needs, risk profiles, current investments and whatnot. No one piece of advice will work for everyone. It is not a one-fits-all kind of thing.

Please always work through your trusted Financial Adviser (that is hopefully registered etc etc and has a CFP behind his name) with these kind of things and let them steer your decisions based on your unique situation while taking into account your specific needs and requirements. That is what they are there for in any case.