New short-term insurer Naked challenges the insurance status quo. When it comes to car insurance, ideally you want to be fully insured so that your own car is covered in an accident or theft, but that doesn’t mean you have to pay the highest...
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Video: The real cost of bad debt
Credit can be extremely valuable in achieving life goals such as paying for tertiary education, buying a car or providing a home for your family. However, it can quickly turn into a debt trap if we start to use it for day-to-day living on items...
Important principles to remember when markets get scary
South African investors are nervous ‒ and for good reason. With a sluggish economy and a weak rand, worries over uncertain land expropriation policies and fears that the often market-leading US stocks are set for a correction, many people are...
Insurance for the self-employed
The biggest risk for the self-employed is being unable to work due to illness or trauma. The growth in the so-called “gig economy” is one of the biggest labour trends globally. This is where individuals with a specific skill set leave mainstream...
Video: No-pain saving
Most of us associate the word “saving” with “sacrifice” or “doing without”. Yet there are many ways to boost our savings without any pain at all. Have you ever wondered how much money you would collect if you saved your coins? Keep a jar in your...
How much will it cost to educate your child offshore?
“If you want to send your child to the UK in 2019 for tertiary education, you will need around R2.5 million. If you have a young child, you will need upwards of R9 million by the time they are ready to go and you will need to start saving about...
Remember to file your tax return by 31 October
A reminder that the tax season deadlines have been brought forward by a month this year so your efiling returns are due by 31 October – it’s Halloween! This is what you need to know If you earn above R350 000 a year you will need to submit a tax...
Video: Sort out your paperwork
Keep track of your bills The most important part of managing your finances is making sure you pay your bills on time. If you miss a payment by even just one day, you face penalties and additional interest charges. This applies to debts as well as...
What is your financial freedom number?
I recently re-read human behaviour specialist Mavis Ureke’s book Managing Emotions for Financial Freedom which looks at the invisible forces driving your money habits. Having read the book before, I was initially just looking for her reference on...
How to protect yourself from loan scams
By Gareth Mountain, Head of Sales at Lending and Innovation Company Olico The current economic situation we’re experiencing in South Africa has created a strong appetite for credit. Often consumers need to borrow money out of desperation just to...
Previous Articles
Video: Leaving a family legacy
Most parents want their children to be more financially secure than they were and to live their lives without financial stress. Many parents see their retirement fund as a way to leave their children an inheritance. The reality unfortunately, is that due to...
Cryptocurrencies and their revolutionary architecture
By Stéphane Monier, Chief Investment Officer, Lombard Odier Private Bank Investment experts have often sceptically dismissed cryptocurrencies as excessively volatile. Technologists have described them as revolutionary. Who is correct? Will cryptocurrencies become a...
Video: When it comes to retirement, time is literally money
The earlier you start to save, the less money you need to put away. Time is one of the most powerful forces when it comes to growing your money – all thanks to the power of compounding. If you start earlier, you need to save less: If you save R12 000 a year (R1 000...
The best place for your emergency fund
Every financial plan should start with an emergency fund. Even if you have debt, before you start focusing on accelerating those repayments, you need to first build up an emergency fund. An emergency fund is what will stop you going back into debt. Ideally you should...
Video: What is an exchange-traded fund?
What is the difference between an exchange-traded fund and a unit trust? Both of these investments make it far easier to invest on the Johannesburg Stock Exchange because they give an investor exposure to a wide range of shares for as little as R300 a month or even...
Provisional tax rules in for a shake-up
The current draft Tax Administration Laws Amendment Bill, 2018, contains a number of changes to the administrative processes required of SARS and taxpayers. While there are certain proposals that have garnered quite a lot of attention, there are some small, but...
Video: How to improve your credit score
Sometimes we need to access credit for emergencies, student loans, or to buy a car. The key is to try and get the best possible interest rate ‒ which means you need a good credit score. Credit bureau Compuscan shared some insights into factors that affect your credit...
Are we managing our money better?
South African households appear to have a better handle on debt levels, but this could be at the expense of savings, especially for emergencies. Despite headlines about the deteriorating state of consumer finances, the latest Old Mutual Savings and Investment Monitor...
You either sleep well or you eat well
By Sherwin Govender, Business Development Manager at Glacier by Sanlam It's perfectly natural for clients to feel nervous about their investments, given the low-return environment over the past few years, and even more so when the client is nearing retirement. It...
Shopping around for credit insurance
The pricing cap on credit insurance is good news for new loans, but many existing credit customers are still paying over the odds. In August last year, price caps were introduced on how much a credit provider could charge for credit insurance and consumers were also...