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STOKVELEX ENCOURAGES STOKVELS TO DEVELOP A REALISTIC SAVINGS PLAN

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in recognition of National Savings Month this July, the StokvelExpo offered handy tips on and how stokvel groups can save money and invest it in viable investment entities.A powerful investment tool, the stokvel market is worth an unsurpassed estimated amount of R46 billion and this pool of money is circulating formally and informally.

Stokvels are a powerful investment tool, the stokvel market is worth an unsurpassed estimated amount of R46 billion and this pool of money is circulating formally and informally.“When we entered this space there was a disconnect between service providers and the informal market. Many stokvels felt disgruntled with service providers that were in the market introducing once-off shelve products or services for the stokvel community without understanding their stokvel model nor social standing in society, said Eugene Mametse, founder of StokvelEx”

StokvelEx shares some money-savings tips this National Savings Month:

  • Plan your year in advance and record all your expenses.
  • Formulate a budget and limit your organisational spending.
  • Create a savings purse and set an objective.
  • Set savings goals and decide on savings priorities (platform to use to save the money).
  • Research and decide on how the money saved can grow the organisation.
  • Shop around for the best returns before investing your money.
  • Make sure the broker and the company are registered with the Financial Services Board (FSB).

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