Owning and managing your finances should be a goal for all of us. Daunting as it may be, your budget is a blueprint to managing your financial wealth and success. Himal Parbhoo, CEO FNB Retail Cash Investments outlines at least five steps that will help you start and manage your personal savings budget: Step 1: Identify the amount of money you have coming in. This step is important as it will define how much money you can contribute to your household expenses, servicing your debt, savings and investments. Step 2: Track your spending through your budget. Monitor what your daily and monthly expenses are; andRead More →

In spite of bank fees accounting for a fraction of the average your income, did you know you can still do much more to reduce their cost of banking? Banking is an important part of our lifestyles and the rapid adoption of smart technology is increasingly propelling the use of mobile banking through apps and other banking platforms. Ancley Jacobs, CEO of FNB Consumer Core Banking says smart technology has been a game changer for both consumers and banks, due to its ability to improve convenience and safety while significantly reducing the cost of banking. However, he says consumers are barely scratching the surface whenRead More →

Spring is here and while this is great as we enjoy the outdoors;  we encourage you to manage you finances and make sure that there is no wasteful expenditure before the end of the year. “There is nothing wrong with being more festive between the Spring and Christmas period; just be mindful about your spending patterns and behavior as this can add undue financial pressure on your finances,” says Este Ochse, Product Specialist, FNB Wealth and Investments. Don’t trap yourself in a dreadful debt cycle because you will be strained financially. Make sure that your budgets are continually refreshed and updated. Ochse says you should “HighlightRead More →

Working over the holidays is a growing trend among both scholars and students. Many students opt to work over the holidays to improve their financial situation, or they need the extra pocket money and they also benefit from on-the job experience. Either way, this extra money, if saved or invested correctly, can help them financially in the future. Himal Parbhoo, CEO FNB Retail Cash Investments says, “It’s often a good idea to find temporary employment while completing your studies. It builds character and will help you when you eventually start working. Depending on your current situation and goals, the money earned can be used toRead More →

Education is costly and requires much thought and consideration. Without a proper savings strategy; you could find yourself running around for that extra cash to pay for your child’s education. Ester Ochse, a product specialist at FNB Wealth and Investments says “With the increasing education costs; parents should take it upon themselves to plan and save in advance. Not forgetting that unforeseen expenses will pop-up from time to time. This puts strain on parent’s pockets; especially if these unforeseen expenses are not planned for.” She highlights the following points that could help in saving for your children’s needs: Start saving now. – It’s never tooRead More →

As a parent in the digital age, you cannot afford to neglect the crucial responsibility of teaching their kids about managing money. Whether it’s a billboard on the way to school, lifestyle images in a magazine or social media images of their favourite celebrity or idol – children can access information which may give them a misguided view of how money is ‘easily’ earned and how it should be used. Ester Ochse, FNB Wealth and Investments Product Specialist says “Once a child has pre-conceived ideas of how money management supposedly works, it may be difficult for parents to entrench their preferred principles. Hence, it’s important toRead More →

With the increase in household expenses due to VAT, fuel and rising inflation, how are you making sure that you have enough saved for the future? Saving and investing has become an important aspect of our lives. More so than before, we need to look at innovative ways to grow our money. Ester Ochse, FNB Wealth and Investments Product Specialist suggests the following saving steps that will help you start your savings journey. Savings Plan. – This is the first step and most important step in the process. You need to plan, understand and choose what you want to save for. Be it for a gift,Read More →

Parents and elders often start saving for their children from a young age. While this initial step is great in helping them set up their life goals; children should also learn the basics of saving and investing from a young age. Ancley Jacobs, CEO FNB Cash Investments says that “The only way your children will start building this saving persona, is by learning about money matters from a young age, understanding how it can work for them and being given the chance to start managing their finances on their own, with positive guidance from parents and elders. Assistance and guidance is necessary in ensuring thatRead More →

Many graduates who have a good credit profile often get carried away by the excitement of qualifying for a loan, while overlooking the risks of misusing it, which could potentially lead to financial mishaps. Lynette Kloppers, FNB Premier CEO, says “taking the time to do your homework about different types of loans and how to use them effectively can help you avoid common mistakes that often leave graduates over-indebted.” Below are four mistakes to avoid when taking out a loan as a graduate. Needlessly using credit – Avoid mistakenly rushing into taking out a loan without first considering your needs and the most ideal wayRead More →