eBizRadio and FnB have teamed up to produce a series of podcasts examining and explaining the financial services industry in South Africa – the goal of these podcasts is to educate and share insights on the various personal savings and investment issues and options that we all face.
Stephanus Buys is the Head of Strategic Business Development at FnB. and he shares his insights on the differences between ”Accessible Money” and Non-Accessible ”Money”.
- Accessible Money are typically deposits and short term investments, whilst Non-Accessible Money is the long term investments that cannot be touched for 12 months or longer.
- So which type is best? One’s own personal finances will largely determine which type of investment would be in YOUR best interest.
- Another important factor is what is the purpose of these savings/investments? Perhaps a family holiday, or a College Fund, or maybe a new retirement account is what you want? – all these factors come into play.
- In South Africa, it is all to common, unfortunately that the people retire after many years of hard work, but have not saved enough to live a life of comfort in their elder years. FnB is committed to tackling this issue that plagues society.
- Related to the above point is the fact that ”Emergencies” can and do occur and without some sort of ”back up” i.e. savings/investments, one’s personal financial situation can deteriorate rapidly.
- Finally we take a look at the purpose behind the many new financial products that FnB offer to market as part of their commitment to educating consumers on financial matters.
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