Money invested wisely into a savings account will not only give you peace of mind but also help you achieve goals you never thought possible according to Neil Thompson, Head of Product and Customer Value Proposition at African Bank.
Thompson said, Anyone can open a savings account and start saving money to achieve a goal – in fact, you can start right now, it is that simple".
Thompson advises setting a goal first. This should be followed by deciding by when you want to achieve the goal. t is important to be realistic. Saying you want to drive a luxury car in six months’ time is not achievable, but saying you want to pay off your car in a year is.
With the right savings account, such as a fixed deposit account, and by having scrutinised the bank’s savings interest calculator to ensure you are getting the best possible rate, you will be pleasantly surprised at what an initially small lump sum can grow to within a year,"said Thompson.
Even delaying to save money by five years can have a great impact on the final result of your efforts, but this should not deter anyone who has neglected providing for their future.