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Njabulo Nsibande

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About Njabulo Nsibande

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  1. A thread on the The money challenge #2019MoneyChallenge Here’s how it works Months are assigned a number from 1-12 Jan = 1 Feb= 2 Mar= 3 And so on to Dec = 12 We then have a multiplier lets 2 and an example. how this then works is you multiply the multiplier by the months’s respective value i.e 2 in the case of Feb. So Feb would be 2 * 2, then you multiply the results by Rands you want to start with, could be for now lets use R100. So in total you would have Jan = (1 * 2) * R100= R200 Feb = (2*2) * R100 = R400 Mar = (3*2)* R100 = 600 And so on till Dec = (12*2)*R100= R2400 In total you would then save R15600 over the 12 months Whats cool about this is you can change the “Rands” value and the “multiplier” value to suit your goals and afffordability Examples Multiplier = 0.5 Rands= 50 Jan = (1 * 0.5) *R50 = 25 Feb = (2 * 0.5) *R50 = R50 Mar = (3 * 0.5) * R50 = R75 …… Dec (12 * 0.5) *R50 Total = 1950 Last example Multiplier =3 Rands= 200 Jan = (1 * 3) * R200 = R600 Feb = (2 * 3) * R200 = R1200 Mar = (3 * 3) * R200 = R1800 … Dec = (12 * 3 ) * R200= R7200 So depending on where you are in life financially you can start snow balling into higher savings rate. From small amounts to big amounts.
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