National Savings Month: Getting ahead through saving

Snow in the KZN midlands
Snow in the KZN midlands
South Africa, Durban. Seafront.
A 30-year-old Namibian woman was bust with a stomach full of drugs.
Dipak Patel
Songezo Zibi
Snow in KwaZulu-Natal
A general view of heavy snowfall on a road to Harrismith from Sterkfontein dam on September 21, 2024. 
 
Avbob Investment Plan
Avbob Investment Plan
July is National Savings Month in South Africa, and AVBOB encourages consumers to seize every opportunity and get into the habit of saving to realise their financial freedom. 
Setting aside a portion of your income for a rainy day or unexpected expenses is not always easy, especially in these financially challenging times. The high cost of living and rising inflation can make it challenging to cover daily expenses. However, starting with small habits (such as cutting back on unnecessary expenses) and small amounts to save can lead to meaningful savings over time.
 
AVBOB is striving to meet consumers halfway with its simple investment product that enables consumers to save once off or a little on a monthly basis. With the AVBOB Investment Plan, customers can save for a period of either five or ten years, depending on their financial goals. The five-year plan requires a minimum investment amount of R300 per month. The ten-year plan allows customers to invest as little as R250 per month. AVBOB also offers a once-off investment with a minimum of R6 000 for both the five- and ten-year plans.
 
The flexibility of the AVBOB Investment Plan is a major advantage. For those interested in short-term investment, the five-year term is a good option. For those looking at medium-to long-term investments, the ten-year term is suitable.
 
Benefits to building your savings
 
AVBOB members reap mutual benefits by virtue of having a policy with AVBOB. Taking out an AVBOB Investment Plan makes you a member, which means you can share in AVBOB’s profits through special bonuses and getting up to R4 000 funeral discount* if AVBOB Funeral Service conducts the funeral of the insured person. The departed loved one is also transported for FREE within the borders of South Africa if the policy is older than six months.
 
*Terms and conditions apply. FREE funeral benefits only apply if AVBOB Funeral Service conducts the funeral.
For more information on the AVBOB Investment Plan, visit: https://www.avbob.co.za/product/invest-with-avbob
 
ABOUT AVBOB MUTUAL SOCIETY
AVBOB is 106 years old. The AVBOB Group comprises AVBOB Mutual Assurance Society, which provides insurance products, and two subsidiaries – AVBOB Funeral Service and AVBOB Industries, which manufactures our coffins and funeralware. Being a mutual means that AVBOB has no external shareholders but instead has members who receive a share of AVBOB’s surplus profit. Our members are our policyholders, and our mutual status drives our purpose.