ZAR500 a month to spare: where should it go?

[sn33zy90]

Hello! I’m looking for some advice about where I should invest R500 every month? I already have a tax free savings account w Old Mutual - should I pop that R500 in there too? Or should I invest in unit trusts, or index shares or…well, I don’t know? I’m a newbie at this and I would like to be pretty hands off as well. Thank you for your time!

 

[blueashsky]

@sn33zy90 If you have monthly debt repayments add it on their first. Car, house, credit card. Every bit goes a long way.

If you are not maxing your TFSA then that's a good next point.

Otherwise decide how much risk you are will to take with the money and find something to match.