Be brutal with expenses if you want to get into the savings habit
Take care of the cents and the rands will take care of themselves.
Source: moneyweb.co.za
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Banks target informal saving clubs' cash
Thandi Mkhabela’s money used to slip through her fingers. Now the 34-year-old mother of four earns interest on monthly savings, has paid off debts and is planning to extend her house in a township just outside Johannesburg, without ever dealing with a bank. Mkhabela’s improved financial footing came after she formed a savings club in June last year with 16 other women. Each of them contribute 100 to 500 rand (US$6.68 to US$33.42) a month, and the club, known as a stokvel, offers three-month loans to members at rate of 10 percent per month. At the end of the year they split
Source: taipeitimes.com
Big banks target SA's informal stokvel's cash
The country's big four potentially only capture R12bn of the R50bn stokvel market currently
Source: moneyweb.co.za
'I am going to build my house, I want a big one': Big banks target stokvel saving clubs' cash
Thandi Mkhabela's money used to slip through her fingers. Now the 34-year-old mother of four earns interest on monthly savings, has paid off debts and is planning to extend her house, without ever dealing with a bank.
Source: timeslive.co.za
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Big banks target South Africa's informal saving clubs' cash
Thandi Mkhabela's money used to slip through her fingers.
Source: reuters.com