The best Savings Account - Not all accounts are made equally
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- čas přidán 23. 07. 2024
- Which is the best savings account in SA currently (2019) and are all savings account the same? are we really comparing apples to apples?
Which is the best savings account in South Africa
Please note that the nominal interest rate does not mean that the bank will subtract that money, that you have gained in interest. It means that the interest rate is not adjusted to meet up with inflation. Example if a bank promises you 7% annual nominal interest rate it means that you still need to subtract inflation to realize the actual growth of your money. So say for instance the inflation rate of 2019 is 5% and you are offered 7% annual nominal rate it means that you’re money actually grows by 2%. This is because the value of money is eroded to the percentage of inflation, so if a bank gives you 5% and inflation is at 5% all you have really done is preserve the value of your money and you have not grown it.
I have saved 40k since last year, I earn as little as R7500 a month I live way below my means. Every month I make sure to save R5000 and I started selling Avon which I've just started earning a substantial amount and all thanks to Nicolette 💖. The next time I comment on your post I would have started my own business.
# Financial literacy is BOSS
Charmain Phillips my heart just melted. Thank you and well done. Thank you for sharing. I’m so proud of you and wish you well.
How are you doing it sis?
I sell Inuka products and I feel like people are sleeping on it
It's a business you need to join for extra cash.
You buy s perfume for R130 n sell for R200 if you sell 5 a week that would get you R350 n R1400 a month. I will have R11200 in October 😍 thank you Nic
I watch these videos n I am unemployed but I put aside R400 a week😀
To join call the head office or reply here I can assist.
@@yolandakhumalo Hey girl, I guess I've managed to save so much because I have a goal, I would like to buy a car and start a business, I look at my business plan all the time and I also have a picture of the car I would like to buy that alone encourages me to save but most importantly I live way below my means. Like the most important thing for me is tithe and to giving money at home. Sometimes you just have to loose a little bit on the fun side( going out and all) for a greater goal/ purpose.
@@inukadistributorfragrances8513 teach me
You are the financial literacy teacher that we never had at school. Thank you.
Mzitho
Tyme bank goal save is da bomb. They add the interest daily... it's amazing. No monthly fees. Access to your money any time.
I hope these banks are sponsoring you because wow. You've captured a market they have struggled with for years
I legit stopped what i was doing on the net when i saw the notification 🤣😁😁
hahahahahahahaaha the best
Me too
I've saved so much money from the first time I started watching your videos towards the end of last year.Fastfoods is no longer appealing to me,I think twice before buying new clothes,I check my change and receipt before I leave the shop.In the past I have been charged more than the price on the shelve and sometimes one product was charged twice.
I went straight to this video when the notification came through that there is a new upload on the channel, hop hop
Just when the notification popped, I am watching right now. Thank you again, Nicollet, this is very informative.
I have been on CZcams since from 2018 but this is the first channel in my life I subscribed into because the information I get here is such an amazing and paramount one
😂😂who-else likes the video,presses download and proceeds to the comments then comes back to watch the video❤️
Thank you soo much Nic❤️
Hahahahaha i will make sure its relevant content all the time
I do😂
The education is amazing in here. I love the disclaimer at the beginning. Thank you for the amazing content
As someone thinking of moving to SA from the UK this is one of my favourite videos you've done. Would you ever consider making text/graphical overlays or your videos to make it easier to follow lists like your saving account recommendations or even to put the list down in the comment section, which I guess would be much easier for you. Amazing again!
This is actually a great idea, graphical representations would make it easier for us to follow! I love her content 😍
@icecreemz try playing using 0.75x (under normal speed)
I enjoyed the differentiation between nominal and effective rates. Keep on encouraging people to be financially literate.👍
You're a gem🤗... You've changed my life for the good. Thank you😄
So glad I discovered your channel! Wish this is something we got taught at school 🙈 adulting is not a joke!
Would love to hear your suggestions on Retirement annuity accounts and options in SA? I'm clueless 😳
Wow thank you Nicolette. This is info the tellers don't tell us even if you dig in deep. I now understand .......I want to save but didn't know which savings account I should put my money into and which........
Just stumbled across your channel, love what you're doing. New subscriber.
“The red one”🤣🤣🤣🤣🤣
I’m really grateful for Nic, the gems you give are really uplifting and informative especially as a young black woman trying to get her wealth together
Just subscribed!!! I am so exited that someone is finally looking out for us, Thank You so much.. :) Numbers are my weakest point.. but I'm always looking for ways to save. I Started from as young as 10 years old with my piggy bank, and once I started getting an allowance I saved each month since 2013 (With Old Mutual) however i still feel like my money is not growing.. The lady promised I would be able to buy a car as soon as I'm done with varsity, or place a deposit on property :(... I've completed my studies and still looking for a job.. I've been nervous about whats gonna happen when I start making big bucks (coz thats going to happen for sure;)) and this video and all the others I've been binging on have saved my life.. I will continue to save, However this time I will save MUCH WISER!! DANKIE FITNESS BUNNY!! DANKIE MAHMI :)
Good advise, so obsessed with your channel 💓💓
Really enjoying your videos. And it's cool that we can actually get a South African perspective on this
I was waiting for this video.. thank you!
Just turned 22 and graduated, I feel so blessed to have come across your channel! Wow ma'am you're going to make me so wealthy! I want to start my business up and I feel like you answered all my questions, thank you
Notification Gang 💃💃💃
And Mina I hit the like button the minute you say "Hi Guys"😍🤑
Thank you lady we really appreciate the insight
Thank you very much sis. I've already done it wrong, at least now I know not to be disappointed at maturity.
Saving is my new thing I was not Familia with it but now slowly but surely I am getting there.
You share tremendous value. The no BS approach is remarkable.
PS: "one of the big banks....the red one..." 😂 lol.
I'm very learning alot about saving by watching your vedios 💓
Beautiful smile there at the end. Thanks for the education by the way
The generation that you are raising here.
Great stuff...the part ye sbhamu killed me 😂
This was very informative Nicolette thank u so much
I have just joined the Family ..I hope I aint too late ..THANKY YOU SO MUCH FOR SUCH INFORMATION
This is so helpful. Thanks a lot hun.
Hi thanks for your advice i really saving a lot since i watch you and listern to your advice thanks again sisi.
Wow wow.. so informative thank you so much !
The blue bank charged me on the maturity day R75 after saving money (R1000pm) as they promised it will earn interest in 12 months. I ended up getting R12k less R75. I ended being the one who saved them R75. Thanks, Nicolette for letting me understand what a nominal rate is. Thixo wase George Kog, kudala sidliwa ngenxa yokuswela ulwazi...lol
I wish I could get 7% in savings. You’ve got it good. Good point about inflation👌🏼
Hii This Video Is Really Helpful Thank You
Thank you very much for this 🙏 you are doing the Lords work.
Thank you for this. I have learnt alot😚
It is 2023 and I bumped into this video like you said lol!
Thank you very much i will look into Tym bank
How did you learn about all of this cause wow!🔥
Hi Nicolette thank you for the great content.
Your videos give me life!
I must say, this channel changed my life as a student....i just felt the need to start...yesterday i registered with easy equities and im gonna fica tonight...i started seeing business opportunities and im definitely starting this month...thank you sesi...we will meet on top.
Hello cc, how does it work?
Just follow this link and everything will be explained there...u will find a demo video n everything is so easy if u follow instructions www.easyequities.co.za
Plz use my code as a referal EE279461
Ul register and prepare ur fica documents...they will email you
👏🏽👏🏽👏🏽
Thank you Nicolette for always taking time to educate us on saving, I have been encouraged by your videos to start saving and also asking qurstion before doing or taking something that is a debt.
Well done Zim, I am enjoying the progress
Thanks Nicolette, this is really helpful.
So enlightening, Thank you so much
Sister nicolettemashile thank you so much for your financial advises,some of us are really inspired and our lives are changed.Thank you and God bless you.
I will be glued on your channel all year. As a self employed it has been a bit hard I tell you running a bridal business
I am still a student and Can I just say that this was really insightful...Got me really thinking.
can we talk email me knahomie9@gmail.com
You and I both! May God help graduate in time so we can start making money😅
Shuu I needed to hear this as a student🙌🙏
I need to share this with my nephews and nieces. Love you...
We meet again 😊
Hi financial Bunny
Thank you so much for this. Can we get an update of this video for 2021/2022
Thank you in advance
How do we get gavament to add this to our kids' curriculum, heh? Everyone uses money, but not everyone understands money
Thank you for valuable information
Very interesting! Thank you
Valuable Knowledge, I needed this ✅
Thank you for this im always heart broken by what i get back.
thank you sis for so much info 👏👌. I am using FNB I just like fnb BUT yooooo the unknown derbit orders awemah they are killing me I don't know what to do now. how can I prevent that????
Got so excited when I saw this🤸🤸
Speech less but I should definitely drop a ❤️✌️
May GOD bless you more.....for all the info you sharing with the world
We love you too😘
Lol Kuphume isibhamu..did not see that coming
Bought my 1st shares for R150 on Easy Equities. Plann8ng to keep throwing money at them every month. Let's see how that goes.
The universe really works in mysterious ways neh, I was just thinking about this, where to acquire more information to grow and be Financially savvy 🤔 Boom your video pops up. Thank you Queen, I have taken notes. 🙏
@Pinned Financial Bunny Thank you 🙏
Inspiring me a lot
Thank you very much for this info, you are always so helpful
Your videos are really informative and so fun
I could not help but press subcribe
Thank you
I didn't no that, thank you so much.
4:40 this is irrelevant but I just love of a Playstation was the first thing that came to mind 🙂
I'm definitely opening an account with TYM bank💃💃
Nyanda Make sure you check the their fees, transferring and withdrawing fees might make you want to change your mind. but TYME indid is dope.
Me too.
Hi Nicolette, have you considered transposing the audio from these videos into a podcast? This information is so important and useful. Sadly, some people may not be able to access it easily via CZcams (data what what) and may find it easier as audio.
Sipho Mudau I will do so. I’ll set up a podcast by June
Hi. I wanted to find out which S.A. bank has a better interest rate fixed deposit account for a student who trying to save money monthly?
Hi Nicolette🤔
Please could you make a video about the tax that one has to pay on long term savings payouts.
Hi nana please share your opinion on outvest as an investment
Thanks for the upload. Teach people about putting money into the stock market - not to buy stocks, but to buy corporate bonds (debt) i.e you lend money to established businesses. You can get 5-9% returns there (at least here in the UK you can).
Please tell us more
Best financial advise
Thank you
Hi Nicollete , is it wise to keep all your servings and different accounts in one bank. I always think that should anything happens in that particular bank , all your money is gone 😃😃
Thank you sis❤
Good day
what would you advise to be the best option between An islamic savings account with 4.5% profit share or standard bank shariah fixed deposit account with 6.15 % for a period of 6 months.
Thank u 🤝
What about Trust accounts in institutions like Allan gray or Old Mutual
We here Notification Gang
Mine is actually getting less than what I even put in... I want to cancel it but I heard it will cost me when I apply for mortgage one day.. How do I go on fixing this
you are the best
I it's time I hit the notification 🔔 button. Thanks a lot @financialfitnessbunny for sharing such important info on money matters💞💞💞💞💞💞
Hey Nicolette:) Thank you for this. What is the difference between an investment account and a high yield savings account?
thandolwethu siziba generally investments will be across many asset classes and high yield accounts are cash based. So when you invest the assets could be cash, property, stocks, livestock
@@FinancialBunny Thank you so much!
We need people lke u gal
Can you be my financial advisor, just love u new subbie
Give this woman a bells🍹 .. we are not worthy 🙌🏽. Simamfumze , singama ngwinya akho 🙌🏽
Please give me a gin rather LOL
Please make an updated version.😭😭😭 Please.
Thanks Sisi📣😍
It's easy to watch your videos, no 50% of the video being about introducing yourself, just straight to the point. No need to move the video to the middle of the video.
Omg, I was literally researching this! 😭😭😭necessary!!!
lol.."K'sheshe manje k'phumisbamu"
It's funny how I like the video without even watching it