Tips to Boost your eBucks - 1 July 2018 to 30 June 2019

[cozinsky]

Meh, a card, car, clothes, etc doesn't determine my status. Would rather have the money in the bank

I second this. I am trying to save up for my first R1 million in the bank but it is quite a daunting task. But nearly there.

 

[Sinbad]

I second this. I am trying to save up for my first R1 million in the bank but it is quite a daunting task. But nearly there.

I'm working on my 2nd million.


The first was a complete **** up so I abandoned it.

 

[cozinsky]

Yeah been on PW since last year October, i think it will be over 10 years or more to get to net asset 150Mil

Were you invited to PW or did you apply by yourself? If one earns R60 000 nett a month, would you qualify?

 

[Jeffafa]

Were you invited to PW or did you apply by yourself? If one earns R60 000 nett a month, would you qualify?

Well it was an offer in the App so i took up the offer, took me a while to accept but i must say the benefits outweighs the high fees looking at my calculations.

 

[Jeffafa]

I second this. I am trying to save up for my first R1 million in the bank but it is quite a daunting task. But nearly there.

Actually a pretty cool idea to take up,i think i will take up this challenge as well.

 

[Snyper564]

Actually a pretty cool idea to take up,i think i will take up this challenge as well.

Do it, I have absolutely no debt and I plan on paying my house off in less than 8 years. I have cut every source of excessive expenditure and don't waste my money on "things". I am however going to France on holiday with my wife in August (2 weeks) and would rather spend my money there on experiences than stuff that collects dust. Yes and that saving up for the trip and paying cash for it not on credit!

Its all a mindset shift, but you can start anytime, start today. Many ppl appear to be "living the life" but they are doing it on credit. Don't give a crap that I still drive my Corsa lite when the car is super light on petrol, insurance is R250 odd a month and just needs the service when required. It has served me well the last 150 000kms. Don't care that I have one of the smallest cars in the parking lot (and I work in a finance company so I'm surrounded by BMWs, Mercs, Porsches) , every month I am smiling as all that additional cash goes straight into my bond!

 

[Gtx Gaming]

I earn way less and have pw offer on the app.

 

[cozinsky]

I earn way less and have pw offer on the app.

Less than R60 000 a month? Will you be signing up for it?

 

[Snyper564]

Less than R60 000 a month? Will you be signing up for it?

Its only worth signing up for if you hit T5 if not I would leave it.

 

[Gtx Gaming]

Less than R60 000 a month? Will you be signing up for it?

It would mean too many hoops to get to level 5.

 

[Snyper564]

Global account pricing isn't clear. If I deposit money ZAR into Euro in the account is there a fee/commission? is it per time or a percentage?

 

[Sayf777]

Global account pricing isn't clear. If I deposit money ZAR into Euro in the account is there a fee/commission? is it per time or a percentage?

No charge for first global account card

 

[Snyper564]

No charge for first global account card

Thanks, I understand that. But I am trying to figure out if I say R500 euro a week vs R2500 every 5 weeks if the cost will be the same.

 

[Sayf777]

Thanks, I understand that. But I am trying to figure out if I say R500 euro a week vs R2500 every 5 weeks if the cost will be the same.

Ah, someone else can maybe answer that.

 

[riddler]

Thanks, I understand that. But I am trying to figure out if I say R500 euro a week vs R2500 every 5 weeks if the cost will be the same.

I understand it that there is no fee (on the bundled pricing option), but you effectively pay a commission through FNB's currency conversion based on the foreign exchange rate at the time

 

[Snyper564]

I understand it that there is no fee (on the bundled pricing option), but you effectively pay a commission through FNB's currency conversion based on the foreign exchange rate at the time

Thanks, my concern is that if there is a minimum then doing R2500 would be better than R500X5

 

[Sinbad]

Its only worth signing up for if you hit T5 if not I would leave it.

Even if you can hit level 5, if you don't deposit 60k in your account (or keep a running balance greater than 100k, you get zero ebucks

 

[Crush]

Thanks, I understand that. But I am trying to figure out if I say R500 euro a week vs R2500 every 5 weeks if the cost will be the same.

5x fees if you do it weekly. So better to just do it monthly or every 5 weeks if you prefer.

But a Global Account is terrible from an investment point of view - rather have an offshore ETF.

I should follow my own advice though... I have USD14k lying there and another GBP5k sitting in an offshore account earning stupidly low interest. But its a Rand hedge... and tons of ebucks tiering points.

 

[Snyper564]

5x fees if you do it weekly. So better to just do it monthly or every 5 weeks if you prefer.

But a Global Account is terrible from an investment point of view - rather have an offshore ETF.

I should follow my own advice though... I have USD14k lying there and another GBP5k sitting in an offshore account earning stupidly low interest. But its a Rand hedge... and tons of ebucks tiering points.

Thanks, BUT what are the fees?

 

[AchmatK]

Thanks, BUT what are the fees?

There are no fees when transferring funds to or from your global account. There's a R275 when making a payment to a third party.

First pic is a R9500 transfer to my USD global account.

Second pic is a R9500 transfer to my GBP Global account.

Third pic is a payment of £400 to a UK bank account from my GBP Global account.