Reach Your Saving Goals with OTT Voucher and EASYInvest
Stock market investing has always been seen as a safe and reliable strategy to grow one’s wealth.
Unfortunately, these investments are typically only accessible to those with sizable minimum deposits in their bank accounts. This means that many people in South Africa who might benefit from investing in the stock market cannot do so.
Now, unbanked South Africans have a new way to reach their savings goals and grow their wealth through a smart investment strategy. OTT4Me makes it easy to invest your cash savings in promising stocks through their partnership with EASYInvest.
In this article, we’ll explore how the EASYInvest platform works, and show you how you can use your cash savings to grow your wealth by using an OTT Voucher.
How to invest your cash savings with OTT Voucher and EASYInvest
If you’ve been carefully and diligently saving your hard-earned cash, you know how hard it is to grow your wealth over time. Investing in stocks is a way to fast-track your savings goals because it allows you to get bigger returns on your existing money.
When you invest in a promising stock, the initial amount you invested grows along with the value of the company, allowing you to increase your savings and reach your savings goals faster.
This is a fantastic way for South Africans to realise their financial goals, which is why stock investing is such a popular approach. Sadly, many unbanked South Africans are denied access to opportunities on the stock market, as there was traditionally no avenue towards investment without a bank account and a certain minimum deposit.
This is no longer the case when you invest with OTT 4 Me on the EASYInvest platform. Now, cash-based South Africans finally have the opportunity to join the stock markets and add their money to the potential profits to be made.
The EASYInvest way to grow your wealth
The EASYInvest platform allows users to deposit funds into a unit trust run by Momentum. Thousands of people can invest together in large-cap equities through a unit trust. Momentum chooses equities for this trust based on the shared financial goals of its investors.
If these stocks underperform, Momentum will simply reinvest the capital somewhere else. The companies in which Momentum chooses to invest are evaluated based on their performance.
You can boost the safety and growth of your investment this way without having to get too far into the weeds of financial markets.
Momentum offers a selection of unit trusts to cater to the varying demands and goals of its clients.
Using this approach, you can select a unit trust that offers greater security and less risk if you need money in the short term, or select a unit trust that offers greater potential return if you need money over the long term.
The plans are all unique and tailored to the individual.
How to invest: step by step
First, you will need to convert your cash to an OTT Voucher to add your investment to the unit trust you prefer. This is an easy, secure, and straightforward process that consists of the following steps:
- On the main page of the EASYInvest website, select the “Register” tab. A valid cell phone number, complete given and last names, email address, and government-issued identification number are all needed.
- Buy an OTT Voucher from one of the 150,000 OTT resellers spread across South Africa. You can find OTT Vouchers at national chains like Pick n Pay, Spar, Caltex, and Makro, or get one from your neighbourhood spaza, convenience store, or tuck shop.
- Ask the cashier for an OTT Voucher and pay for it with the cash amount you intend to invest. When you pay with cash, a till slip with a special 12 digit PIN will be given to you.
- You can also buy OTT Vouchers online through the official OTT4Me website. The voucher PIN will be sent to you via SMS or email.
- Finally, enter the voucher PIN into your EASYInvest account to add your investment to your preferred unit trust.
Of course, you’ll also need an account on the EASYInvest platform. Here’s how to register for an account with EASYInvest:
- On the main page of the EASYInvest website, select the “Register” tab. A valid cell phone number, full name, email address, and government-issued ID number are all needed.
- Review the disclaimer and then select I Agree.
- Then, select the Sign Up link.
- A one-time password (OTP) will be sent to verify your account and cell phone number.
- Enter the OTP in the designated field.
- Your account will be ready to use. You’ll have access to the platform’s unit trust options. Browse the selection of unit trusts, and once you’ve found the option that suits your investment goal, simply add to your investment using an OTT Voucher.
Frequently Asked Questions
Should you invest your savings?
If you have no high-interest debt and an established emergency fund, investing your spare cash can help you amass a substantial fortune over time. To secure one’s financial future and enjoy retirement, investing is essential.
What are the best ways to invest your savings?
A unit trust is a user-friendly way to invest your savings, especially if you are new to the stock markets. Unit trusts are managed by professional portfolio managers who can place your investment in the best stocks on the market.
Is it better to save money or invest?
Prioritizing savings is essential. Make sure you have at least three to six months’ worth of living expenses stashed away in a low-risk, low-return account before you start investing.
Is it safe to invest your cash if you don’t have a bank account?
It is safe to invest your cash savings when you use a platform like EASYInvest, which is set up to allow cash-based South Africans to make investments using an OTT Voucher.
What is a good first-time investment?
Saving up for a major purchase like a car or a house down payment might be aided by earning higher interest on your savings through short-term investments like high-yield savings accounts or money market mutual funds.
Yes, buying goods on layby are a great way to budget for the items you want most without breaking the bank. When you use platforms like LAYAWAY, you can even use special savings accounts to save for purchases and future events.
Investments are a great way to grow your wealth, but they’re often made by those with higher levels of disposable income. Platforms like EASYInvest allow you to invest in a unit trust with no threshold, and you don’t even need a bank account, as your investment can be added by using an OTT Voucher.
You can invest on the EASYInvest platform using cash when you add to your investment using an OTT Voucher.
Saving money can be a difficult challenge, particularly in today’s economic climate. However, with a good savings plan or strategy, you will be able to gradually grow your savings over time without breaking your monthly budget.
Many people overspend regularly. The best course of action is to refocus on your savings plan and practice healthy spending habits going forward.