July is South Africa's National Savings month and to celebrate the fact, Azania held a special edition of her popular Masterclass on the subject of saving. She was joined by personal finance guru Frank Magwegwe for a no-holds-barred discussion on the benefits of saving and how to be financially savvy.
Nedbank is encouraging South African's to change their spending behaviours in order to save. By using the hashtag #MySavingsPledge you can show your support by sharing what you will give up.
Inspired by the campaign, Azania has pledged to give up eating takeout for the month and has opted to prepare her own meals - which could lead to a saving of over R1000 by the end of the month!
And here’s how #MySavingsPledge can work for you: If you stop for a coffee every morning, choose one day where you’ll go without it and save the money towards something important. If your coffee costs R25 a day, you will save R100 at the end of the month. After a year you will save R1200 and if you invest that money in a Nedbank 12-month fixed deposit account, it could grow at a rate of up to 8.83% per annum.
Watch Frank Magwegwe join Azania for the special Masterclass in our blog below...