Tax free savings accounts are an excellent way to save and invest, most especially if you plan to invest for a long time. As Zama Dikana from Old Mutual explains, they attract no tax which gives you a higher return on investment than you would otherwise get. If you don’t already have one, and you have extra cash, no matter how little, available to save and invest, you should certainly open a tax free savings account (“TFSA”). Zama discusses the rules and limits for TFSAs, how to invest on behalf of your children and he answers some questions from a loyal listener. Mentioned in this episode: If you’re just getting started with investing, listen to this episode we did called “Buying Shares a Beginner Guide” https://www.familyfinanceshow.com/podcast/episode/4b887ffa/buying-shares-a-beginners-guide-simon-brownDisclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider and Life Insurer. This material is not intended as and does not constitute financial advice or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. Product information provided by the contributor only serves to inform you of Old Mutual products but does not replace the terms and conditions and technical detail applicable to the products or services mentioned. It should not be construed as a offer or recommendation to buy or sell the products featured without obtaining the recommended financial advice.   The views expressed by the contributor are his or her own, and may not necessarily reflect the views held by Old Mutual.Join us on twitter for real conversations about family finances:@FamFinanceShow@DianaGranouxWebsite: www.familyfinanceshow.comSubscribe on your favourite podcast platform:https://podlink.to/FamilyFinanceShow

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