Should I have debt?

This is always a difficult one to determine. Surprisingly, the answer is both ‘yes’ and ‘no’. Being a Gifter, 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 property 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, buying unnecessary digital gadgets and expensive gifts for friends and family.

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.

Travel tips from Nedbank Travel Card

If your money archetype is the Gifter, your job and lifestyle has probably taken you places. As a lover of seeing the world, you’re likely planning your next trip as we speak.

So, with that in mind, we’ll let you in on some travel Money Secrets.

Once you’re set to embark on your next trip, it’s important to manage your money well when you arrive at your destination. A Nedbank Travel Card is a great way to do exactly that. It’s a safe, convenient and affordable way to access your money on the go.

You can load up to eight currencies, which makes crossborder travelling easy. You can also manage your funds and reload your card on the Nedbank Money app. As Nedbank has partnered with Mastercard, your card is accepted by most merchants worldwide, so you won’t experience any hard currency issues.

Next time you embark on a leisure or business trip, consider getting a Nedbank Travel Card. For all the benefits and need-to-knows click here.

This information is intended for general information purposes only and does not constitute legal advice.

How and for how long do I invest?

As a Gifter, you enjoy sharing what you have. However, don’t lose sight of the future. Investment is an important part of making provision for tomorrow. With that said, it’s important to figure out what you’re investing for. That will help you make the right choice in terms of how long you need to invest to reach your end goal.

Perhaps you’re saving for a deposit on another property. Perhaps you simply want to be prepared for the unforeseen. Once you’ve decided what the purpose of your investment is, there are a few Money Secrets to guide your decisions. You can either invest a lump sum, like a tax return, or through a monthly debit order.

A lump sum will obviously start earning interest from day one, but a monthly debit order can be just as powerful. Over time, your money can grow into a sizeable investment through compound interest.

The two main secrets to investing are patience and persistence. Give your money time to grow and stick to your original game plan to reach your goals.

Have a look at how Nedbank can help you reach your investment goals here.

This information is intended for general information purposes only and does not constitute legal advice.