In the last week I have been connecting with our Money Makeover contestants who have been on their money bootcamp for three months so far. What has struck me is how many contestants commented on how taking control of their financial lives is having...
Unpacking the recent controversy over Momentum’s refusal to pay a claim due to non-disclosure. Insurance group Momentum came under fire recently after it rejected a claim when a Durban man was shot and killed. The insurer rejected paying out R2.4...
Mputla wrote to me with an interesting dilemma. He is 32 years old, married with two children. In 2016, he and his wife bought vacant land in a security estate with cash that they had saved for several years. The plan was to build within four...
With above-inflation price increases announced by medical schemes, many members may be looking for more cost-effective options when it comes to healthcare. But before making a change, ensure you understand what you are ‒and are not ‒ covered for....
Whether you buy a brand-new car or a relatively new used car, you will need to consider a motor plan, warranty and/or service plan. These can offer significant peace of mind, but issues can arise if you do not fully understand what is covered or if...
Lots of parents in South Africa shirk their responsibility of paying maintenance for their children. But these days there are fewer places to hide and the law is on the side of the parent who does provide. Some recent court cases have shown that...
I recently came across the Nedgroup ‘robo-advice’ site, called Extraordinary Life. This new functionality from the Nedgroup investment house has not been widely advertised, and I suspect they are doing a ‘soft’ launch to test the channel first. The...
'Tis the season for overindulgence ‒ and overspending ‒ so avoid the pitfalls of debt and credit shortfalls by calling 'BINGO' instead. Sanlam Personal Finance has created a Budget Bingo game which you can share with your friends and family and...
When you take out a mortgage or bond, you will be required to take out life insurance. This is so that if something happens to you, the insurance will cover your mortgage repayments. This usually includes death, disability and possibly retrenchment...
A power of attorney is not valid if the person becomes mentally incapacitated. Something that we often don't think about when we consider our financial health, is the prospect of deteriorating mental health, specifically the onset of dementia....
The South African overall equity market has shed more than 20% from its highs at the beginning of the year in dollar terms, a similar-sized drop to the 'Nenegate' slump of 2015. But Nkareng Mpobane, chief investment officer of long-only fund management at Ashburton...
If you are starting a new job or considering a change, you need to understand the implications of your new package. Most employment contracts are done on a “cost to company” basis which includes things like medical aid, retirement funds, housing and travel allowance....
Ten years from now, your social capital will be more valuable than the stuff you own or the car you drive. This week I had the opportunity to interview Martijn Aslander, a Netherlands-based thought leader and ‘life hacker’. He is part of a growing movement that...
The more convenient our payments, the more security conscious we need to be. I had the privilege recently of attending Mastercard's annual Connecting Tomorrow conference where future payment technologies are showcased to the financial industry. I witnessed some of the...
If you have recently been hospitalised or undergone a medical procedure, you may have been faced with a bill from your doctor which was not fully covered by your medical scheme. In some cases there may be a co-payment for an elective procedure, or the specialist...
The Competition Commission has long frowned on the monopolistic motor service and parts industry. But with their new set of proposals that’s all set to change. Motorists are set to save money when proposals drafted by the Competition Commission (CC) are ironed out and...
By Jean du Toit, attorney at Tax Consulting SA Despite the promising initiatives implemented under the South African Revenue Service's (SARS) acting Commissioner Mark Kingon, its tribulations in meeting its collection targets have not yet waned, with payroll audits...
A valid will ensures your wishes are carried out, makes it easier for your family, and protects your children when you no longer can. You need to nominate an executor to administer the deceased estate. You can appoint a professional executor or nominate a responsible...
If you have been diagnosed with breast cancer, you may qualify for a higher income in retirement. When it comes to taking out life insurance, underwriting for the cover usually means that a prior illness results in a higher premium. However, when it comes to...
Shopping online is a perfectly acceptable way of getting what you want. But should you be doing that for your financial and risk products? Financial price comparison websites have changed the way in which consumers evaluate, apply for and consume financial products....