MyMoney Online, The Personal Finance series with Warren Ingram

5 steps you need to take to ensure financial wellbeing in 2016

(Saving more your New Year's resolution? Click here to read "How to invest an extra R1000 or so per month".)

The Money Show’s Bruce Whitfield interviewed Galileo Capital Financial Advisor Warren Ingram.

Ingram discussed five steps you need to take to ensure your financial wellbeing in 2016.

Scroll down for quotes from the audio below.

Don’t automatically upgrade your phone after two years.

Warren Ingram, Galileo Capital Financial Advisor

Don’t sell your car when your motor plan runs out.

Warren Ingram, Galileo Capital Financial Advisor

If you’re paying 10% interest on your debt – there’s no other investment that pays more than getting rid of this debt.

Warren Ingram, Galileo Capital Financial Advisor

From next year Treasury will allow you to contribute 27.5% to your retirement fund and get a tax deduction on it. A real no-brainer!

Warren Ingram, Galileo Capital Financial Advisor

You shouldn’t put money into a Tax Free Savings Account if you need it in the near term.

Warren Ingram, Galileo Capital Financial Advisor

Don’t put your money in a fixed deposit Tax Free Savings Account at a bank.

Warren Ingram, Galileo Capital Financial Advisor

Our stock market is largely rand hedged.

Warren Ingram, Galileo Capital Financial Advisor

Gradually build up your offshore portfolio over time.

Warren Ingram, Galileo Capital Financial Advisor

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This article first appeared on 702 : 5 steps you need to take to ensure financial wellbeing in 2016


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