Investing just got as easy as sitting in the sun or going for a run
10 Jul 2017
It's national Savings Month, the perfect time of the year for South Africans to revisit their saving and investment exploits. For those people who haven't started saving, or feel that they are saving too little can now start doing so with Stash, a new savings and investment app powered by Liberty.
Launched a month ago, the Stash app now allows you to stash more money on every sunny day, and every time you move – whether through formal exercise or walking up a staircase.
Stash rounds up the amount of every transaction on your bank or credit card. If a user decides that their Stash limit per transaction is R10 and they make a transaction for R45, this would be rounded up to R50. The R5 in change is stashed. All this spare change accumulates without interfering with day-to-day life.
Juan Labuschagne, head of development at Stash says, "When it comes to investing, getting started is the hardest part. Investing should be as easy as tweeting – that's the goal of Stash. With Sunny Money and Sweat, we've made investing easier to do when you're enjoying beautiful sunny weather or whether you're trying to get fit."
How to Stash on sunny days, this winter
We're not called 'Sunny South Africa' for nothing. South Africa is the fifth sunniest country in the world. With Stash, you can boost your investment on every sunny day.
Every morning Stash checks the weather in your area. If it's sunny, you stash R5 (by default), but you can also choose to stash R10 or the maximum temperature of that day (in Rands).
Before 1pm each day, you can stop Sunny Money from getting stashed. You can also set a monthly limit to the amount that gets stashed.
It varies from city to city, but the average South African city has ten sunny days a month. In Johannesburg, winter is the sunniest season. Upington is the sunniest place in the world in December and January. That means that if the R5 is stashed on every sunny day, you'll stash R50 in that month.
Sweat to stash
Imagine investing 5c for every 100 steps you took. That's the premise of Sweat, a feature that stashes when you move. Stash uses the built-in step counter to work out how many steps you take. If you have another fitness device, you can connect it to Google Fit app and Stash will pick up any workouts done on the day too.
The average person takes between 5000 and 7000 steps a day. So, if you walk 7000 steps a day you'll Stash R3.50 a great way to incentivise yourself to walk that little bit further.
Everything you Stash is 100% tax free
Stash is the first app in South Africa where you can unleash the power of the stock market. There are zero fees. You can take your money out whenever you need it and the best part is you don't pay any tax on the cash that is stashed.
Labuschagne explains, "Stash checks your daily bank balance and never transfers more than you can afford. Before you know it you'll have a significant Stash balance. Your Stash grows as fast as South Africa's biggest companies do because your spare change is invested in South Africa's top 40 listed companies."
For more information, please contact:
Zolani Mtshali – Media Relations Specialist
011 408 1940
082 955 5610