Some 1-Page personal finance cheat sheets

1. How to achieve financial freedom
2. Asset Classes
3. ETFs
4. TFSAs
5. Investing jargon buster
6. IDEAS to get your finances in order
7. How Tax works
8. RAs vs TFSAs
9. Successful investing

[THREAD] How to put together a plan to achieve financial freedom

Top Tips for buying and financing a car

[Thread] 1. Negotiate the price

Whether you buying new or second hand, from a dealer or privately, the price is always negotiable.

Always ask if that is the best price they can offer, then shop around, compare and negotiate

Okay, time to adult...

What are RAs and how do they work?

[THREAD] #1 RAs In a Nutshell

A RA (Retirement Annuity) is basically an investment account which holds some investments.

You can put Unit Trusts, ETFs, or even Cash Inside an RA, and these investments will be protected from Tax
while inside of the RA.

At a training course which I attended a few years ago, the course facilitator told us a story which went a little something like this… An experiment was set up by putting 5 monkeys into a room which had a trapdoor in the roof.

In the centre of the room, directly below the trapdoor, a ladder was placed.

How to Hack A Home Loan

[Thread] A R1 Million Bond at prime (7%) will have an installment of R7,753/month.

Paying the minimum results in a monthly payment for 20 years (240 months) and an interest bill of around R860k.

So how do you reduce the length and the interest bill?

When you buy the Satrix MSCI World ETF, this is what you are getting.

[Thread] The ETF invests in 23 different countries. This means your investment is spread all across the globe giving you geographical and currency diversification.

How to calculate your income tax

[Thread] Income Tax is a tax which is charged on your income (I have not idea how they came up with the name!)

So in short, income tax is a percentage of your income which you pay over to SARS.

A fat man and a thin man walk into a restaurant.

They sit down, take a look at the menu, and they both order the 200g Sirloin. Medium rare. The chef receives the orders and goes about preparing the food.

For both steaks, he uses the same equipment and utensils, the same ingredients in the exact same amounts, and the steaks are cooked on the same stove top in the same pan.

Your Credit Score

What is it?
How can you view it (for free)?
What affects it?
Why is it important?
How can you improve it?

[THREAD] [1] WHAT IS A CREDIT SCORE?

Your credit score is a 3 digit number representing how you have handled debt and payment obligations in the past.

If you have been a payment pro, then you'll have a high score.

If you've been a little naughty with debt, you'll have a lower score.

Let's see how Mirror Trading International (MTI) does in the scam exam

[THREAD] Whenever you are wondering if an investment is legit, run it through this checklist. If it ticks even one of these boxes, it's a possible🚩

Okay, so how does MTI score...

https://twitter.com/stealthy_wealth/status/1267346712823246848?s=20

7 top tips for destroying your finances and making sure you retire broke 1. Buy a house as soon as you can.

Don't wait until you are married, settled in your job, had kids, and know where you want to be. Buy a.s.a.p. to make sure you pay commissions, transfer duties, lawyers fees etc. etc. when life changes and you need to sell and buy again.

The lottery is a tax on people who can't do Maths

[THREAD] The South African lottery is a 52 ball lottery. That means the odds of picking the winning numbers are slimmer than shady at 1 in 20,358,520.

You have considerably more chance of picking the right CENTIMETRE on a trip from Johannesburg to Sun City

[Thread]

Top personal finance tips from the experts "Be like Buffett and keep 1 address. Avoid the hefty costs of moving"
@brucebusiness