savings accounts

We had the same question recently and met with our Finance guy to discuss our provident fund issues and then chatted about the same thing - educational funds and so on.

The problem is that the only thing I got was that you would probably be on about the same par if you put the money into a bank - but then he suggested a better option, and if I recall it was purchasing unit trusts or playing the stock exchange with the money.

This is still a very grey area for us as we are also struggling with the same issue.

I recall - and I stand under correction that to sum it up he said it would be better to put them money you want to plow into your child's education into your bond, and when the time comes to need it take it out of your bond.

Basically that way you chip away at your bond - or if you purchase property as an investment (maybe it is not your primary residence) then the money makes more money there than in a bank.

That was sort of the short of it - or in our case, what we are going with for now.

Thanks for the tip Claire - re education policies.

I also can't seem to see the logic there. I think that because we are young, we can afford to take risks and invest... But also not risking too much.

2kidmamma: Your time is your time and I'm sure you'll get there. But let me add, the more we have, th emore we want! I've now put on the brakes, as I am happy/content with what we have and now just want to enjoy a quality life instead of looking for quantity.
Our cars are now paid, so our debt right now is our bond. We have another 14yrs, if we stick to the 20yr payment plan. But I'm hoping we can half that time too. It would be nice to drive a new car but I don't see myself/us having capital debt for 5rs again.... And the novelty of the new car wears off too quickly.

Discussion in our house at the momemt: What's important to us? Family, i.e, Dh, Joshua & I. We want to spend quality time together and also more time together. Hence, we no longer work wekends, overtime, holidays, etc.... Did that and so not going there again.

But in the end, it's about what you want and how you plan on achieving it. We sacrificed to the point where, thank goodness this was way before Joshua, Dh would work shifts and for a month we would get to see each other maybe 1 week in total as when he left I was not homeyet or vice versa. So I guess what I am trying to say is that we have to sacrifice somewhere. YOu just need to figure out where....

Claudia - the 32 day notice account with FNB is what I have taken out - here is the link they only required a R 100 deposit.

www.fnb.co.za/invest/32-day-interest-plus.html

Education policies are a waste of time - I work for brokers who advised me not to

Le-André wrote:

Well like they say "Ons het baie af ge kak" aan die begin. Translation - We struggle financial and then also lived a very basic lifestyle. .

We must still be in this phase of our lives then. Hope you are right Le-Andre.

Well like they say "Ons het baie af ge kak" aan die begin. Translation - We struggle financial and then also lived a very basic lifestyle. Now 10 yrs later and a very hapopy healthy LB, I think we derserve to spoil ourselves.

I told him about the Woolies sale, and he agreed that we get some walkmates for Joshua. Needless to say, I as well as him enjoyed the sale as I spent 2k there. BUt it was so worth it.

I told him teh other day that "we've worked damn hard to get to where we are now". Everyone will get their break, I believe this

Flip Le-Andre, you really are quiote lucky to have a Hubby that gives you an allowance if you work fulltime. Sjoe, not everybody has that luck. Well go one, get that coat!

@2kidmamma - Yes, and that way I get to buy myself that pretty pink coat that I saw the other day.

Dh opened our savings account and gives J and I a monthly allowance too. And thi sI can spend on me only, for whatever I want/need as I always say but I need it

So when I do see that pretty coat, Dh says use your Capitec account. Ooh, he's gonna get a reward tonight...

I have a full time JOB! So I get my salary but he just feels that he wants to give all of us an allowance too. Oh, we split the expenses 50/50 and then I have some change which I then also pump into my capitec account.

He just told me that he's applying for another post internally, adn if he gets it, it's an extra 1ook.
And to top it off he says that he'll increase my allowance with 2K per month OOOOHHHHHHHH, I need to hope that he gets that post! I can so save all J's Primary school fees in no time. And still have change