What's best way to invest R30k?

ADVICE: DEPENDS ON YOUR STATUS, FINANCIAL GOALS

- Jaco Prinsloo

The question: I would like to get advice on what is the best vehicle to invest R30 000 in. The answer: The best way to invest R30 000 really depends on your personal financial situation and goals. It's like planning a road trip—you need to know where you are, where you want to go, and what kind of vehicle will get you there safely.

Let's explore a few smart options based on various financial priorities.

If you have high-interest debt like credit cards or personal loans, the best use of R30 000 would be to pay it towards this debt. No investment will be able to give you a return that is higher than the interest you can save on high-interest-rate debt.

If you do not have high-interest-rate debt, you can consider investing in one of these options.

1. Paying towards your home loan: A guaranteed return

If you have a home loan, putting R30 000 toward your bond is one of the smartest, risk-free moves you can make.

Here's why: