How I save money as a student.

Easy as ABC [THREAD].

Disclaimer: This information is based on my experience and how I save up. I am not paid by any of the service providers which I will mention here. Yes one service provider does have a reference link which I will use to earn extra cash on the side.

Again my content is not financial advice but simple information for educational purposes.

Background story: I was raised by my grandmother and at home it was just the two of us. From the age of ten my grandmother each payday will seat me down show me how much she has and what needed to pay for and how much we have left with after everything is bought and paid for.....

...this over time made me money wise and be able to plan properly on how to use my money.

So the only stable income I have each month is my food allowances from NSFAS which is R1500 each month. I done earn extra money from the side but it is not stable as sometimes I don't earn at all or if I do i have to meet my monthly investment goals.

There are 4 savings ways which I use each month. 

1st is Incentiv8. Incentiv8 is a student payout company which allows students to pay a small monthly premium between R50 - R250 each month during thier studies and when they graduate they get a large sum payout with interest.

For me I pay R50 each month and when I graduate I will get a payout of over R7000 which will help me to start my life after graduation.

You can check them out on this link:   https://www.incentiv8.co.za/sign-up-now/ivyn6744 (please use my reference code IVYN6744)

The 2nd way I save is through Tyme Bank. I before I had a fixed saving account with other bank which I will not name here(still use it for my day to day banking) and it had low interest rates for my money over the years I used them. I did not see that much growth in my money....

.....so I moved my savings accounts to Tyme Bank.

So out of the R1500 from NSFAS each month I don't really use 100% of it on essential needs so what I do is that each month I take R250 and put it into my Goalsaver account with Tymes Bank. In my Goalsaver I earn 9% if I keep my money in that account for 90 days but if I keep my..

....money there for 90 days plus I give them 10 extra days notice when I need my money I earn 10% interest rates. It is really an amazing account in my view.

What also I have done with Tymes Bank is that I have moved my emergency fund also into the Goalsaver account(second Goalsaver) and I can get access to my emergency fund anything I want.

My emergency fund is my third way of saving. Each month any amount of money I earn outside of NSFAS allowances I take 10% of it and I put half into my emergency savings account and I put the other half into my December savings account(Third Goalsaver).....

....On average I will put around R150 into that emergency saving fund and I don't use it until I have a real emergency(We all don't have the same definition of emergency). 

And remember this small amounts over time become huge amounts.

So the last way I save money is through a stokvel I have with my friends. There is 7 of us and each month we pay one person R250 and every time the money comes back to me I put it into my December holiday savings accounts I use to save money for the....

...December school holidays which I am back home with little income as NSFAS allowances is gone and also my side hustle and business don't operate that much during December.

All this does not include the investment I do with the money I earn from my business and my public speaking gigs. Most of the earns from my business @Opencampusza and my speaking gigs go into my investment portfolios and also into me doing what students do best .

I had to keep a savings portfolio which is all the ways I save money and I am guaranteed I will get it back. Most savings accounts have low returns just enough to be over the inflation rate.

Also keep an investment portfolio which is where you put your money for long term growth and it is high risk with high returns of on the money you put in. I do this with shares, small businesses owned by other young people (it is risky AF) and also small property from back home.

My English . Sometimes I wish I can just type in Siswati my home language .

My DMs are always opened but I am not going to give financial advice. I am not a financial advisor. For that you will need to speak with an FSCA registered advisor.