So I cashed in....

F

Fuma

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...*cough* my provident fund.

Lets's just say when I went to the ATM to check ze balance, the ATM did that coca-cola "Brrrrrrrrrrrr" advert. :D
I wish.

Anyway, I took the money to pay off all my smaller debts (Credit card, Personal loan, & other debts)
I feel a lot better now.

The only debt I have is my car and bond. I must say I still feel bad about the amount I had to pay, but after a couple of weeks/months, I know I'll feel even more better.

I didn't see it making financial sense to invest that money where the interest on my debts was higher that my ROI.
 
I agree, and that's what I did when my *cough* provident fund paid out when I resigned in Jan this year. Settled lots of debts and felt on top of the world.

As my boss says to me, the best RA you can have is a whole bunch of properties you own and you rent them out.
 
Heita_Hola said:
...*cough* my provident fund.
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I did that too. Paid off credits and my car, and put the balance into my bond. It's made a big difference, and my bond will be sorted out more quickly too.
 
But its better to be debt free then worry about that every month I wish I had something that I could cash in to do the same thing with a provident fund you can always start again.
 
I'm also going to cash out my pension and settle my car and credit card debts. I'll save R5k+ pm from next month onwards :)
 
DarkDenim said:
I'm also going to cash out my pension and settle my car and credit card debts. I'll save R5k+ pm from next month onwards :)
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That's nice. After 2 years you have R100K+. I envy you. :)

I'll be settling my house in +-5 years time (I just bought it 3 months ago). :D
 
Yea, just don't fall into the debt trap again. It sucks donkey balls. :)

If I could I'd sell my car, but for now I'd have to settle with not being able to yet.

My RA has been going now for at least 6 years, I don't think I'll cash it out though, forces me to save that money every month (which isn't nearly as much as I should be saving)
 
Kim_Webchick said:
But its better to be debt free then worry about that every month I wish I had something that I could cash in to do the same thing with a provident fund you can always start again.
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Yeah, you have to start it again, but it's a long uphill climb. You need to make sure that you do try to get things like house paid off earlier so that you can increase provident fund contributions.
 
Well I still have a lump-sum left over of mine. I injected a bit of it into my company to aid things along, and the rest I've invested in properties. It was and remains the best thing I ever did. Besides, when it was with the respective funds, it was losing R200 a year. And besides, the respective funds' board of directors have all been named and shamed in Noseweek so I feel better about what I've done.
 
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