1Sanlam Collective Investment

What is a collective investment account?

The Collective Investment Account (CIA) is a flexible way of investing your money over the medium to long term, with no limits on the amount you can invest. It allows you to put money into a range of different investments, including unit trusts and open-ended investment companies (OEICs).
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The Saving Jar Method for Kids

There is a “Spending Bucket” strategy for helping adults manage their spending that is easily adaptable to kids. Its simplicity is what makes it such a great tool.

This is how it works for kids. Your child gets three jars or cans. Then you label them:
Then you and your child decide how much of each new dollar they receive will go into each jar. You’ll have to decide what makes sense for you. My suggestion is something like this:
Saving = 20%
Giving = 10%
Spending = 70%
Once the money goes into that jar it stays there. No borrowing from the Saving jar or the Giving jar to spend. That’s the agreement.

They’ll find that they will naturally adjust their spending to the amount available to spend. That’s human nature. This is the same logic as putting part of your paycheck into your 401(k) automatically so you are not tempted to spend it.

So then when they receive their allowance, a gift of money, earn a few dollars selling lemonade, or get their paycheck from a first job you put it in the jars according to the percentages.

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