GOAL NO.2

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“Personal Finance 


At the beginning of July 2022, I decided to start saving a minimum of R300.00 every month for a period of  36 Months, I will be making cash deposits into my Savings account which earns up to 3.85%  (tax-free)  interest annually on positive balances. These Savings will be my emergency savings ( Financial safety net for unexpected expenses ).


-Practicing fruitful financial habits-

_

  • Basis of presentation: Financial information published, has been prepared based on general financial (and accounting) knowledge.
  • Growth will be measured per the amount deposited. R300.00 is the base monthly contribution to this Savings plan, however, the intention is to contribute above the base rate to maximize savings and also to relieve pressure from the unpredictable tough months ahead.


BALANCE AS OF 03 AUGUST 2022



          RAND

Cash deposits 

        1, 560.00

Cash withdrawals

        1, 020.00



         RAND

Available balance 

        540.00




*Below is the link to my Microsoft OneDrive where I stored snapshots reflecting a bank balance on the day this blog post was published.

OneDrive


BACKGROUND INFORMATION 


*below is the link to an online financial course I took that sparked this idea 💡

CAPITEC LIVE BETTER ACADEMY




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