Juan Labuschagne, Head of Development at Stash proves that if you make saving and investing easier, more people will get involved. And soon the innovative app will also be available on iOS, so there’s no excuse not to save.
We’ve loved how quickly people have caught on to Stash. In just six months since the launch, Liberty has proved that if you make saving as easy as spending, people will save more. More than a third of Stashers join through friends. While it was initially only available on Android, the move to make it more accessible led to the app’s imminent launch on Apple’s iOS platform. Join the other 3 000 people in pre-registering for it on stash.co.za. and receive a notification as soon as it becomes available on the Apple App Store.
The main excuse for the low savings level in South Africa is usually related to a lack of money. The reality, however, is that saving and investing in the traditional sense can be an administrative nightmare and many investors simply can't afford the required minimum investment amounts.
These hurdles are especially concerning for the younger generation who are focused on work, family and maintaining their lifestyles to the extent that they neglect to look after their finances. The answer lies in speaking to the younger generation on the right platform.
What is Stash?
Stash is an app that simply rounds up transactions when you swipe your bank card and invests the digital spare change in South Africa’s top 40 companies, tax- and cost-free. In just 49 seconds, you sign up, link your debit, credit or cheque card to the app and get R50 free to kick-start your investment journey. Each time you spend on your card, the app rounds up the amount spent to the nearest R10, R20 or R50 and stashes the digital spare change in your investment account.
So when you buy a coffee for R24, Stash rounds this up to R30 and invests R6. If you select to round up to R20, then it stashes R16. All this spare change accumulates without interfering with your day-to-day life. Stash checks your daily bank balance and never transfers more than you can afford, so you don’t have to worry about going into overdraft.
As it’s a tax-free savings account, you pay no investment tax. You can invest up to R33 000 a year – up to R500 000 over your lifetime – into your tax-free investment. These limits apply across ALL the tax-free savings accounts you may have. There are no fees to pay when you invest with Stash, so you aren’t penalised when you cash out and can put in or withdraw money whenever you like.
Join the savings revolution that puts the power of the stock market on your smartphone!
Get the app from the Google Play Store or visit www.stash.co.za
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