Have some spare cash at the end of the month that you’d like to see grow? Here’s expert help.

First ask yourself three questions, says Discovery financial advisor Onalenna Disipi: what are your goals; how long do you want to invest for; and how much risk are you willing to take. ‘Regardless of the amount you can invest, you should give your investment time to grow,’ she says.

R500 A MONTH- Soré Cloete, senior legal manager at Old Mutual

A good investment option is a tax-free savings account, which lets you access your funds at any time with no tax payable on the growth of your investment. No dividend or capital gains is payable if you remain within the annual threshold amount of R30 000 and lifetime limit of R500 000.

You can make lump sum or monthly instalments, access your funds at any time, stop or restart your payments whenever you like, and leave money invested for as long as you like. Michael Fridjhon, chair of the Old Mutual Trophy Wine Show Wine is a not an easy investment because of the difficulties in reselling. You could buy a six-pack of Zonnebloem Shiraz Mourvedre Viognier 2014 for R480 – when there’s an investment opportunity like this, it’s worth ageing the wine and selling it back in a year or two’s time perhaps on an online sale site like OLX) for double the price once it’s out of stock. Two years from now it should be possible to get R150 per bottle.

40% of South Africans don’t have a pension fund or a retirement annuity – according to the latest savings and investment research by Old Mutual

R1 000 A MONTH- Yumna Ebrahim, economist at Econometrix

1. Put the money into a retirement annuity, which helps you build long-term savings, while saving you tax on your annual income.

2. RSA retail savings bonds offer guaranteed returns and is a safe, secure and relatively simply way to save.

R5 000 CASH WINDFALL- Onalenna Disipi, financial advisor at Discovery
1. If you’re not keen to take a risk with your cash, look at money market or income funds. If you’re willing to take on a higher level of risk, consider equities or shares, which are more volatile in the short run.

2. A unit trust is mainly suitable for short-term investment, since you can usually access your money without paying penalties. For long-term savings, rather opt for an endowment – you can’t access your money for the first year and it generally has to be invested for at least five years.