Bandit 98 Posted November 28 Thanks to @Njabulo Nsibande who created this how-to thread: The basic idea is this: Every month has a number: January = 1, February = 2, March = 3 .... December = 12 You decide on a multiplier number, let's say: 2 You decide on a base amount of money: R100 Every month you take the month's number and multiply it by the multiplier and the base Rand amount. The result you save into a savings account. Example 1: Multiplier: 1 Base Rand amount: R50 Jan (1) x multiplier (1) x base amount (R50) = 1 x 1 x R50 = 1 x R50 = R50 Feb (2) x multiplier (1) x base amount (R50) = 2 x 1 x R50 = 2 x R50 = R100 Dec (12) x multiplier (1) x base amount (R50) = 12 x 1 x R50 = 12 x R50 = R600 Example 2: Multiplier: 2 Base Rand amount: R100 Jan (1) x multiplier (2) x base amount (R100) = 1 x 2 x R100 = 2 x R100 = R200 Feb (2) x multiplier (2) x base amount (R100) = 2 x 2 x R100 = 4 x R100 = R400 Dec (12) x multiplier (2) x base amount (R100) = 12 x 2 x R100 = 24 x R100 = R2400 Let's use this thread to track our progress for 2020 and see if we can meet our targets. Maybe those who want to participate can tell us and if you feel comfortable the amounts you have chosen. 1 Quote IQ Test Share this post Link to post Share on other sites
Bandit 98 Posted November 28 To work out your projected savings before interest (in other words the amount you'll put away): Multiplier x Rand Amount x 78 = ? 1 x R100 x 78 = R7 800 after 12 months 2 x R100 x 78 = R15 600 after 12 months 3 x R200 x 78 = R46 800 after 12 months (hello, this is good chunk of money) 1 Quote IQ Test Share this post Link to post Share on other sites
Bandit 98 Posted November 28 I'll start: Multiplier: 2 Rand value: R200 Total input for year: R31 200 1 Quote IQ Test Share this post Link to post Share on other sites
Spreadsheet Ranger 35 Posted November 28 I'm in I think I will do the multiplier 2 as well with base value of R200 So also aiming for R31 200 Is someone going to write us a excel sheet? Quote Join the official JSE Discord Channel Share this post Link to post Share on other sites
Bandit 98 Posted November 28 Excel sheet that does what? Quote IQ Test Share this post Link to post Share on other sites
SaurusDNA 85 Posted November 28 I'm trying to improve the formula a little. The difference between the first and last months is just too big. 1 Quote Share this post Link to post Share on other sites
Platinum Wealth 20 Posted November 28 You could flip it and start with the 12 assigned to January that way your contributions gets less throughout the year. Quote Share this post Link to post Share on other sites
Bandit 98 Posted November 28 Don't mess with the formula. It's meant to be difficult close to the end else what are we doing here? It is designed to foster a culture of saving. If you are fortunate enough to have your financial affairs in order you'll be saving a flat amount every month. There's not reason to change anything. Commit some values, even if it is "play" money and play the game. 1 Quote IQ Test Share this post Link to post Share on other sites
SaurusDNA 85 Posted November 28 Yes, I'm doing my monthly R2750 to TFIA and then a flat monthly rate to non-TFIA ETFs and shares. But I'll play the game then with something small. Thinking of buying NFGOVI as the savings tool rather than a bank account, since it's returning around 10% in yields at the moment. Quote Share this post Link to post Share on other sites
SaurusDNA 85 Posted November 28 (edited) Okay - since the minimum purchase of NFGOVI is R250, I'm going to start with a bigger base and have a smaller multiplier. Base: R250 Multiplier: 0.5 Total for year: R9750 Edited November 28 by SaurusDNA Quote Share this post Link to post Share on other sites
Bandit 98 Posted November 28 16 minutes ago, SaurusDNA said: But I'll play the game then with something small. Thinking of buying NFGOVI as the savings tool rather than a bank account, since it's returning around 10% in yields at the moment. That's not a bad idea actually: shares. I may rethink my entry If you use the Easy Equities platform you'll be able to buy for less (partial shares). 1 Quote IQ Test Share this post Link to post Share on other sites
Bandit 98 Posted November 28 Which one of you is going to do this with crypto? Come on... Quote IQ Test Share this post Link to post Share on other sites
SaurusDNA 85 Posted November 28 Oh, that's also an idea!!! Quote Share this post Link to post Share on other sites
Spreadsheet Ranger 35 Posted November 30 On 11/28/2019 at 10:03 AM, Bandit said: Excel sheet that does what? Was thinking, it can show you the exact amount you need to pay this month and it allows you to "mark" that the payment have been made. Some way to just manage the process. Quote Join the official JSE Discord Channel Share this post Link to post Share on other sites