In this podcast https://youtu.be/n94Kfm2NxhI , I share more details about the emergency account which I believe we should all have. Since March, our customers are withdrawing money from their emergency accounts as a result of financial strain brought about by salary cuts and sometimes even no pay due to the lockdown. I am quite pleased that most of our customers had opened their emergency accounts with us and that at least they had money to manage during this financial crisis. This link https://www.thuthuka-sa.co.za/why-a-money-market-investment-account-is-a-must-have-for-all-of-us/ is the newsletter I wrote in May 2019 about a money market account which I believe is the best type of investment account to have for emergencies.
The radio interview addresses the following
1. What is an emergency fund and why is it important to have one?
2. At what age should I start building an emergency fund?
3. For what types of emergencies should I access the fund?
4. How much money should I set aside for the fund?
5. Does the money I put away depend on the size of my family?
6. What is the difference between a savings account and an emergency fund?
7. What account type should I use for an emergency fund?
8. Can I use my credit card as an emergency fund?
9. Could you use your home loan access bond as an emergency account?
If you have R500 a month and you want to open an emergency account with us, email firstname.lastname@example.org