Why should I choose a unit trust?
As a Big Shot, you understand the importance of investment and the power of sound money choices. You’ve also heard a lot of talk around unit trusts, but what exactly is a unit trust, and why should you be investing in one?
Here’s the simplest way to describe a unit trust. It’s an investment that pools money of various investors together. Fund managers then use their financial expertise to decide how this pool of money can be used best to grow investors’ funds. This could include shares, government bonds or listed property.
Here a few Money Secrets as to why you should consider investing in a unit trust.
For more on how to choose the right unit trust watch this video.
This information is intended for general information purposes only and does not constitute legal advice.
Should I have debt?
This is always a tough one to crack. Surprisingly, the answer is both ‘yes’ and ‘no’. Being a Big Shot, you probably have a good credit score. With that comes access to credit. While it may seem like a good a thing, it can also land you in hot water if you don’t use the credit to your disposal in a responsible manner.
Debt can be divided into good and bad debt. It’s acceptable to have good debt such as home loans and study loans. The reason for this is that an asset such as a house appreciates in value over time, while a study loan empowers an individual to qualify for well-paying jobs, which leads to a better standard of living.
Bad debt would be debt incurred by living above your financial means. This would include going on extravagant holidays, dining at classy restaurants, and buying expensive digital gadgets that are not necessities and lose their value rapidly.
For a better understanding of good and bad debt watch this video.
This information is intended for general information purposes only and does not constitute legal advice.
What to do with your extra cash?
If your money archetype happens to be the Big Shot, you can probably relate to things like being the one who buys that extra round of drinks. Having a taste for the finer things in life is alright but take care not to overspend.
If you have spare cash burning a hole in your pocket, why not rather put it to good use? Here are a few Money Secrets that could make a positive difference to your life in the long run:
This information is intended for general information purposes only and does not constitute legal advice.
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You want the wheels, the house, and the white picket fence. We get that. But as a Big Shot, you have to make sensible financial decisions. MFC, a division of Nedbank, has a step-by-step guide to help you finance your vehicle. From calculating what you can afford, to finding a vehicle and finalising the application process.
You work hard for your money. How you enjoy it, is up to you. But in a culture that promotes excessive buying, you’d be wise to save a little something for a rainy day. Nedbank has a range of long- and short-term investment options that offer flexibility, competitive interest rates, and other benefits.
Being the life of the party doesn’t always equate to good behaviour. But when it comes to your money choices, it’s a different story. The new Greenbacks is a money management programme that rewards you for making savvy financial decisions. You could earn Greenbacks, receive coupons, vouchers, partner discounts, and much more.