'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...
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Video: Shopping around for mortgage insurance
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...
When your parents can no longer make financial decisions
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....
SA equity market likely to struggle but bargains emerging
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...
Video: Understand the total package
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...
Social capital will get you there faster than a car
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...
How secure are new payment technologies?
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...
Video: How medical gap cover works
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...
Car repair industry overhaul will benefit motorists
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...
SARS ups tax collection through payroll audits
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,...
Previous Articles
Video: What should you include in your will?
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...
When poor health saves you money
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...
Should you use a financial price comparison website?
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....
Video: How to save 10% of your salary
Imagine if you were told that from next month you would have 10% less money to spend. Yet this is exactly what would happen if you decided to start saving 10% of your income today. While we all want to save, and 10% sounds like a good number, we know that it requires...
What the Debt Relief Bill means to consumers
Beware the false hope behind debt relief headlines The National Credit Amendment Bill, which includes details around debt relief, was recently approved by the National Assembly, but it still has a while to go before it becomes law. The so-called “Debt Relief” Bill...
Finding balance in a world of extremes
By Francis Marais, senior research and investment analyst at Glacier by Sanlam We as South Africans sometimes tend to be overly pessimistic or anxious. In fact, according to the latest 2017 perception index as compiled by Ipsos, South Africans ranked highest in terms...
Video: What is a lump sum worth when it comes to income?
When we look at our retirement funding as a lump sum it may seem like a lot of money – until you realise that it represents your entire future income. If you retire at the age of 60 and you live until 80 – which is relatively young – you need enough to pay for 240...
There is no excuse not to be insured
With third-party insurance available for only R38 per month, not being insured could be the most expensive decision you ever make. A reader wrote recently to complain that a driver had stopped in front of him unexpectedly, causing him to crash into the back of her. As...
When your emergency is not paid by your medical scheme
Don’t rush off to the emergency room too quickly – it may cost you more than you realise. A recent twitter rant by a Discovery Health Medical Scheme member highlighted an often-misunderstood fact about hospital plans: they don’t cover visits to the emergency or...
Video: Understand your retirement fund rules
While retirement vehicles share some characteristics, especially on taxation, there are some key differences and it is important to understand exactly how your retirement fund works. The similarities are: All types of retirement vehicles give you a tax break on your...