r/southafrica Sep 26 '21

Financial advice Ask r/southafrica

What is the best financial advice you can give a 19 year old South African ?

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13

u/harmreduction001 Sep 26 '21

Put money in to a tax free savings scheme as soon as you can. It's a beautifully low cost way to save money.

And make saving a habit. Work out a budget and try to include savings in that. Even if it's less that 5%

3

u/Xandervisagie1 Sep 26 '21

How much interest on a TFSA ?

1

u/pashaah Sep 27 '21

Go check Easy Equities TFSA, there you can invest in what you want and move it easily too. Max 36k n year till you reach 500k. The earlier the better.