INVESTMENT TIPS

Always pay the full amount owing on your credit card. If you do not, you will be charged high rate of interest from the date of purchase.

Use a credit card to get 42 days’ interest-free credit by buying at the start of the buy-and-pay cycle and repaying the debt in full by the due date.

Don’t leave large amounts of money sitting in a low-interest bank savings or current account. Rather put the money into a saving account.

You should not borrow to invest in stock markets.

If you are a investor, you invest for the long term and you don’t panic when markets fall.

Save at least 10 percent of your income as part of a long-term savings plan.

Never buy too much life assurance against death or disability. If you are surrendering a life assurance investment policy, always see if you cannot get more than the surrender value offered by the life assurance company by trading the policy on the secondhand market.

Buy a home to give yourself and your family somewhere to live. Then pay off your Mortgage loan as soon as possible to save yourself interest payments.