Thrive in 2025: Smarter spending + saving = success. Here's how

Are you a planner who loves to organise and account for your finances - or do you reach the end of each month not quite sure where your money went?! Wherever you fall on the spectrum of money management, Vitality Money can only make your life easier!

Here are 5 ways you can take charge of your financial future in 2025 - and get rewarded by Discovery Bank for doing so.

1. Set a budget you can stick to

Budgeting is the foundation of good financial health, and the Vitality Money Financial Analyser that's built into your banking app makes it effortless.

This AI-powered tool analyses your income and expenses to create a personalised budget. It automatically sorts your spending into over 160 categories, and then helps you identify trends and opportunities to save. Learn how to harness this tool to make more informed decisions about your money.

Tip: You can earn up to 10,000 Vitality Money bonus points for accurate budgeting and engagement with the Vitality Money Financial Analyser when you set up your first budget and stick to it!

2. Boost your savings with smart tools

Savings provide a financial safety net and enable you to achieve long-term goals. Discovery Bank's app makes saving systematic and stress-free:

• Easily open multiple savings accounts to track progress toward different goals.
• Enjoy competitive interest rates with no monthly fees.
• Unlock Dynamic Interest Rates and boost your savings by a further up to 1.5% by improving your Vitality Money status.

Choose from:

• Demand Savings Accounts: Flexible access to your funds, with rates up to 6.75%.
• Notice Savings Accounts: Save for bigger goals and earn up to 8.05%.
• Fixed Deposit Account: Maximise your returns with rates up to 10.55%.

Our clients are earning these great interest rates on R16 billion worth of savings and investments held with Discovery Bank. Always see the Discovery Bank app for the latest available interest rates.

3. Top up your Tax-Free Savings Account (TFSA)

Did you know you can save up to R500,000 tax-free in your lifetime? Tax-Free savings products are a great way to grow your wealth without paying tax on interest, dividends, or capital gains earned. This makes them ideal for long-term goals like a home deposit or retirement savings. Open or add to your Tax-free Demand Savings Account with just a few taps in your banking app today.

Just keep these limits in mind:

• You can contribute up to R36,000 annually (this resets every March when the new tax year starts).
• Avoid penalties by staying within annual and lifetime contribution limits.

Tip:When depositing into your Tax-Free Demand Savings Account, funds need to have reached your account before the tax year ends on 28 February to count within that tax year's contribution limits. If you're topping up your funds with a deposit from an account with another bank, plan ahead and factor in transfer times between banks to ensure your funds are allocated to the current tax year don't wait until the last day of the tax year to do it!

4. Invest in your financial education

Knowledge is power, and that's especially the case when it comes to money. We want to help you become more financially discerning, so we partnered with Worth, a leader in financial education, to bring you fortune-changing online courses at an unbeatable price.

For a limited time, Discovery Bank clients can register for Worth's expertly designed financial education course directly from the banking app, for just R5! Learn how to:

• Take control of your cash flow.
• Get out of debt.
• Achieve financial freedom.

Tip: You can earn 10,000 Vitality Money bonus points for completing the 'Wealthy me' or 'Wealthy couples' financial education courses, which will be valid for 12 months. After that you'll earn 5,000 Vitality Money bonus points which will be valid for the next 12 months

If you want to learn and empower yourself to take control of your cash flow, get out of debt and achieve financial freedom, log in to your bank app and:

1. Tap on your Vitality Money status.
2. Tap Money Coaching^TM.
3. Select Worth Financial Education.
4. Tick the box to accept the Terms and Conditions.
5. Tap Next.
6. Select which account to debit the amount from and tap Next.
7. Make sure that the details are correct and tap Pay.

This course, normally valued at R6,499, equips you with the skills and confidence to make smarter money decisions. As Hayley Parry, Head of Education at Worth, puts it: "Whether you're wanting to move your relationship with money from out of control to confident or from meh to magic, you've got an incredible opportunity to do so by signing up today and getting started."

Register before 31 March 2025 to take advantage of this low price. Terms and conditions apply

5. Stay motivated with the best rewards

Good financial habits should be celebrated, so Discovery Bank makes it rewarding to manage your money well. By improving your Vitality Money status, you'll unlock perks like:

• Boosted savings with you dynamic lifestyle and travel rewards.
• Even higher earnings on qualifying savings accounts and reduced borrowing rates on select credit facilities!

So what are you waiting for? Take charge of your finances today

From setting up a smart budget to growing your savings, Discovery Bank offers the tools and guidance to help you thrive financially in 2025. Don't wait to get started:

1. Log into your banking app.
2. Access the Vitality Money section to learn more about your Vitality Money status and the financial behaviours that can help you improve it.
3. Open a savings account in just a few taps and commit to adding to it regularly.
4. Upskill with ease by securing a Worth financial education course at the limited-time discounted price of just R5.

Budgeting beginner or finance whizz, make this the year you master your money and set yourself up for financial success!

• This article is meant only as information and should not be taken as financial advice. For tailored advice, please contact your financial adviser.

Pick another topic to learn more about Discovery Bank

5 banking features to get you more money this month

Shop without stress by staying on top of your spending

Smart budgeting solutions straight from your banking app