Avoiding debt your whole life sounds like the ultimate financial win, but as anyone who has ever tried to buy a home without a credit history soon realises, having zero credit history can be almost as damaging as having bad credit. A reader named...
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Why are banks turning down credit cards but offering huge personal loans?
Imagine the scenario: you apply for a R30 000 credit card limit, but are rejected due to a low credit score – and then the exact same bank turns around and offers you a R135 000 personal loan instead! It sounds counterintuitive. How can a massive...
Insuring with your emergency fund: are you over-insured?
My mother recently mentioned that she was paying R300 a month for an extended warranty on her car. On paper, this sounds like sensible protection – until you examine the fine print. Her policy came with strict per-component sub-limits, which meant...
Good news on retirement returns, but don’t sabotage your future
Just recently, I was having a conversation with someone in the financial industry who was bemoaning that the number of South Africans who can afford to retire remains stubbornly at 6%, despite all of the efforts being put into financial education....
What to know about vehicle repossession in South Africa
Tens of thousands of South Africans face an ongoing squeeze on household budgets, driven by rising fuel prices, food inflation, and mounting expenses. This has led to difficult choices for many households. Unfortunately, vehicle finance repayments...
The “celebration economy” and lifestyle creep
There’s a common perception that we are poorer than previous generations – that these days we’re struggling much more to make ends meet. Yet are we actually poorer than previous generations, or is it just that our baseline standards for what...
How to make your tax refund work harder
Before your SARS refund disappears into a holiday or shopping spree, consider how that lump sum could change your financial future, says Marnus Mostert, franchise principal and financial adviser at Consult by Momentum. Who doesn't love that little...
How to avoid excessive executor fees
When you draft a “free” will through a bank or fiduciary company, they usually nominate themselves as the executor. While this seems convenient, executor fees in South Africa are capped at a statutory maximum of 3.5% of the total estate value plus...
Switching insurers too often might end up costing you more
A telesales agent bypasses your spam call blocker and entices you to switch your short-term insurance cover to another insurer by promising a lower monthly premium. Because money is tight and you have a growing mountain of debt to whittle down, you...
What to Include in Your ‘When I’m Gone’ file
Stacy Wallace, Estate Planning expert at Hobbs Sinclair Legacy, explains how you can ease the administrative burden on your loved ones after your death by compiling a comprehensive ‘When I’m Gone’ file. Few people enjoy thinking about the practical...
Previous Articles
Reviewing your medical aid
It’s that time of year again: as we approach October, South Africa’s major medical schemes will start rolling out their annual price hikes and benefit changes for the upcoming year. With healthcare inflation consistently outpacing the general CPI by 3% to 4%, many...
How a 1% fee difference can change your retirement
An additional percentage point in annual investment fees may seem insignificant, but over a lifetime it can compound into millions in lost retirement savings. Yet many South Africans remain unaware of the fees they are paying to invest and grow their wealth. An...
‘Oops’ vs. ‘oh no’: What insurance data says about women drivers
Claims data does show that women drivers have more small motoring mishaps, but they’re less likely to have serious accidents. Women drivers have been the subject of jokes and stereotypes for decades. You know the ones. The shopping trolley that somehow appears out of...
From forecasts to probabilities: Why being ‘right’ matters less than being prepared
Investors have long accepted that markets are uncertain. What is becoming increasingly clear, however, is that uncertainty itself is changing – and with it, the way portfolios need to be constructed. Speaking at a recent investment forum, Morningstar’s Chief...
South African women are winning at money – and losing sleep over it
Dr Thomas Brennan, CEO and co-founder of Franc, explains how South African women are achieving stronger financial outcomes through disciplined, long-term investing, but at the same time, they lack financial confidence. As someone who founded a digital wealth coach and...
Understand your insurance: 5 questions that matter
Sherry Sibeko, Executive Head for Personal Lines at Miway Insurance, lays out the questions that every South African should ask before taking out an insurance policy. Having a clear grasp of your insurance policy is essential to making informed financial decisions and...
Should owning a home still be the financial goal?
Property is still a good investment, but not for the reasons many South Africans think. For generations, South Africans have been told that owning a home is the ultimate wealth-building strategy. It's advice that has become almost financial gospel: buy a house, pay...
South Africa is looking up – should you bring your money home?
Local markets are giving investors reasons for optimism, but that doesn’t mean you should cash in all your offshore chips, says Johan Minnie, CEO of Consult by Momentum South Africa is having a moment. After years of worrying about everything that could go wrong –...
TaxTim offers free AI WhatsApp tax help for all South Africans
You can now get instant tax help via a WhatsApp message or voice note, thanks to TaxTim, South Africa’s digital tax assistant. TaxTim was started in 2011 with the goal of making filing taxes easy for every South African, and to offer tax support to everyone, not just...
Should you marry your partner for financial protection?
Many South African couples are surprised to learn that living together, even for many years, does not automatically confer legal rights, even if they have children. Despite how prevalent cohabitation is in South Africa, it is not recognised by South African law. This...