Quick Hot Tips

• Stokvel Tip: At a time of spiralling debt, making smart use of stokvels to pay off personal debt and free up cash flow is a wise path to financial freedom.

• Stokvel Tip: The exit requirements of the stokvel – such as the date, and the amounts payable or owed to the stokvel – are a necessity and must be written down.

• Stokvel Tip: The conditions for withdrawing any amount from the stokvel must be clearly stated in the constitution to prevent confusion.