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What will your One Less be? To Pledge use #MySavingsPledge. Join the movement on www.facebook.com/Nedbank. Make your pledge on Facebook or Twitter using the hashtag #MySavingsPledge.

To save more, for that something more important, open a Nedbank Tax Free Savings account now.

You can begin by just looking at your daily spend, one less of something small can go a long way towards saving for something more important.

For example, buying one less coffee a week - Coffee Free Friday – you could save money that you can spend on something more important. So when you pledge to give up this one coffee per week, you would have started saving towards a GRAND TOTAL of R8000 over 1 year.

Partner with us today. When it comes to helping you achieve your financial goals, Nedbank has an extensive range of products.

• Visit nedbank.co.za or one of our branches for more information.
• To get your plan for a financially secure future on track today, contact our
  professional financial planner on 0861@Future or email financialplanning@nedbank.co.za.

Put saving first - One of the most important keys to saving success is to view saving as something you do on a regular and disciplined basis, before you spend. If you thinking of saving as something you do if you have anything left over at the end of the month, this could be a recipe for disaster.

Have clear savings objectives and choose the best way to achieve them - You have to differentiate between short-, medium- and long-term savings as this will determine how and where you save or invest. Short term is anything up to about two years, medium term is up to five years and long term is longer than five years.

Understand the risks and opportunities of different asset classes - Cash savings, such as a bank savings account is suitable for short-term savings, as it creates absolute certainty that you will get your money back. However, it’s not always suited to long-term savings, as the growth is very limited. Equities (stocks), on the other hand, often offer good long-term growth, but they are potentially very volatile and not suitable for short-term savings.

Sort out your short-term savings - When saving for short-term goals it is probably best to invest in what is known as an ‘interest bearing investment’ like a money market investment account or a money market fund. This will give you certainty of the outcome, without exposing your money to short-term ups and downs in the markets.

Make provision for medium-term savings - When saving for the medium term, a balanced fund gives you access to the services of an experienced fund manager who is focused on getting the best growth possible without exposing your money to too much risk. 

Lead the way to your long-term wealth - When saving for the long-term (i.e. for retirement), you should be less concerned about short-term volatility and more focused on achieving the best inlation-beating growth possible. You want to include as many growth assets (such as local and offshore equities) as possible.

Be tax savvy - Know your tax position, as this will impact on the type of product most suited to your objectives. If you have a low tax rate, it does not make sense to use an endowment as your savings vehicle, as the tax rate in the endowment is higher than you would pay on your personal income. If you have a high tax rate, a new tax free savings account or a retirement annuity offer the opportunity to invest at a lower tax rate than you would pay on your personal income. 
 
Become a budgeter - It is important to have a proper household budget, and to manage your finances in line with that budget. Most people do not have a clue what they are really spending their money on every month, so a budget can be a real eye opener. 
 
Be a role model to your kids - One of the most valuable life lessons you can teach your children is the importance of being savers. It can help to create this savings culture by incentivizing them. For example, to get your kids to save their pocket money, tell them that you will match everything they save towards their December holidays. That way they see, first hand, the growth benefits of saving rather than spending.

Speak to an expert - Consulting a financial planner is an excellent way to structure the ideal financial plan for your unique circumstances and goals. It will help you to prioritise your objectives and start working towards achieving them within your budgetary limitations