When I see clients, one of the first complaints are that they never have any savings or spare cash for those rainy days.
With Liberty’s newest app Stash (your cash) it has become so much easier to do. What the app does, is it takes small increments of money you spend on your debit or credit cards and rounds it up to the nearest 10 or 20 (this can be set by you) and then takes that difference and invests it in the JSE top 100 companies at in a tax free savings account.
Let me give you an example: Let’s say you buy coffee and a muffin for R41 at your favorite shop, then it will be rounded up to the nearest 10, which is in this case R50 meaning that R9 will go into your tax free savings account.
So why is this app so great you might ask.
- Instead of doing the R500 debit order, you can set a limit of R500 and save in small increments by doing your normal shopping on a monthly basis.
- It takes less than 5 minutes to set up.
- They money is available within 48 hours.
- Very easy way to build up some money for those rainy days ( a good benchmark is always to have 3 months’ salary saved up).
- You save on a daily basis and you will not even notice the money going into the savings.
Here is a full article on the app and how it works. Alternatively if you have questions you can contact me.