Here are 10 personal finance tips that are practical and timeless:

• Don’t save what is left after spending, spend what is left after saving.
• Pay your taxes on time; the costs of compliance are expensive.
• No one ever got into trouble by borrowing too little.
• Aggressively paying down a mortgage is usually better than investing.
• Don’t invest in anything that promises impressive returns with little or no risk.
• Insure against potentially devastating personal risks i.e. death, loss of income or disability.
• Anything you invest in yourself, you get back tenfold. Investing in yourself is the only investment you can’t lose with.
• The scorecard that matters is the ability to finance your goals not what other people are making in financial returns.
• Money can’t buy you happiness, but it can make unhappiness easier to bear.
• Save for your retirement years, getting old is not a choice but a certain lifetime event.

Sphelele Mncube

Head of Investments

Sphelele joined Inkunzi Wealth Group in 2013 and has 9 years’ experience in the investment management industry, having had previously worked for Allan Gray and Regarding Capital Management. Apart from being an active member of our investment team, Sphelele is also responsible for the management of our business. He holds a BCom degree in Economics from the University of Pretoria.