When to start saving

Ideally you want to get into the habit of saving or investing when you land your first job. The next best time to start saving is now. Start by downloading this simple budget planner. It’s an easy spreadsheet that shows you what you’re spending your money on. Include your income (what goes into your bank account on payday) and the amounts for non-negotiables like rent, transport costs, groceries, cellphone expenses and anything else that’s critical to getting through the month. You can also try our digital version.

Now see how much you have left. You want to be putting away about 5 – 10% of your income. So if you’re earning R15 000 then you should be saving between R750 – R1 500 towards your goals or an emergency fund.

Looking to travel?
Try and save about 10% of your monthly income.

Why must I save money?

  1. Because there are things that you want like a gorgeous Michael Kors handbag, a pair of limited edition sneakers, the latest iPhone or even a holiday locally or overseas. Saving even a little bit every month helps you get what you want.
  2. Investing your money helps it grow in a number of ways - through compound interest and the increase in the value of the underlying shares or instruments.
  3. It makes you financially independent - saving regularly ensures that you have less of a need for credit or loans and more money available to buy or do the things you want.

But I can’t afford to save…

Let’s look at some of the things you can probably do without every month and see how much you could be left with to invest.

1 less take-away per week: R280/month

1 less bottle of wine per week: R320/month

1 less restaurant meal per month: R250/month

1 less new item of clothing per month: R500/month

1 less packet of cigarettes per week: R160/month

Imagine “older you” managed to sneak a letter back in time (let's say 10 years) and told “younger you” to start investing at least R500 a month. “Older you” would have R104 925* today. Enough for a neat second-hand car, a deposit on a home or a trip overseas. *R500 per month invested in the Old Mutual Flexible Fund 30.09.2007 – 30.09.2017

How much do I need to save?

How much you need to save really depends on what you want. Our easy-to-use online Savings Calculator will show you how much you need to save to reach your goal. You can also try the InvestRight tool which is a simple, interactive online investment calculator to help you establish how much you need to invest to meet your financial goals, be they short-, medium- or long term with five simple questions.

Why Old Mutual?

For over 170 years, we have been passionately helping investors achieve their goals and grow their money. We'd like the opportunity to do the same for you.

You can start saving with us from as little as R170 per month or if you have a little more to invest R500 a month. You can also invest a lump sum of money if you prefer.

We have a variety of savings plans to choose from with financial help at hand. Choose a no-obligation call-me-back, live chat or let one of our experienced financial advisers talk you through the various investment options in South Africa.

Our savings product offering

Saving or investing for your goal is a medium- to long-term commitment. There are various Old Mutual investments and savings plans you can choose from.

How to invest

Some investment solutions are available directly online and other options via financial advisers. The table below gives a brief comparison of the products. Selecting the product name will link you to more information on that product.

OPTION 1 OPTION 2 OPTION 3 OPTION 4 OPTION 5
UNIT
TRUSTS
TAX FREE
PLAN
FLEXIBLE
PLAN
2-IN-ONE
SAVINGS PLAN
MAX
INVESTMENTS
Minimums R500/month R200/month R350/month R215/month R350/month
Can I access my investment anytime?
Can I stop my investment if I need to?
Can I invest online?
Can I invest via an adviser?
INVEST ONLINE INVEST ONLINE INVEST ONLINE FIND AN ADVISER FIND AN ADVISER
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Other financial needs you may want to consider:

Saving and Investing
For the future or something special
Learn more
Education
Saving for your children's education
Learn more
Retirement
Securing your future financially
Learn more
Life Cover and Insurance
Life insurance that offers peace of mind
Learn more
Funeral Cover
Covering unforeseen funeral costs
Learn more
Loans
Personal loans, debt consolidation
Learn more
Banking
Low-cost banking accounts
Learn more
Disability
Personalised disability & severe illness cover
Learn more
Short Term Insurance
Affordable car, home & valuables insurance
Learn more