If you want to make some extra cash or get some freebies, sign up as an “influencer”. Zamokule, who may be familiar to readers as a Money Makeover contestant, recently turned his car into a moving billboard for Dialdirect in order to earn some...
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Are banks treating our children fairly?
Major South African banks (Absa, Nedbank, Standard Bank and FNB) appear to have made improvements in recent years in their accounts targeted at children. They’ve scrapped the monthly admin fees and lowered or gotten rid of some transaction charges....
NHI: a storm in a teacup?
Why the NHI announcements will not affect your pocket yet. The massive media coverage around the recent announcements by Health Minister Aaron Motsoaledi has everyone in a bit of a tailspin. People without access to decent medical cover believe...
Taking cash out of your home in retirement
A lack of retirement savings has seen a significant demand from pensioners to use their homes to access capital, especially for medical costs. A reverse equity mortgage is a special type of home loan that lets you convert a portion of the equity in...
How to pay off your home in ten years
By Rudi Botha, CEO of BetterBond If you have a R1m home loan, payable over 20 years at the current prime interest rate of 10%, you are set to pay more than R1,3m in interest by the time you’ve paid off that bond and the home is finally yours. But...
Godparent vs Guardian: debunking the myths
By David Thomson, Senior Legal Adviser at Sanlam Trust Whether you are a godparent or you’ve asked someone else to be your child’s godparent, do you have clarity on what the term actually means? There is a critical difference between a godparent...
Helping your children to manage their money
As a mom, my goal is to see my two children grow up to be independent and to stand on their own two feet. A big part of this journey is financial education. You can give your children the best academic education you can afford, but if they don’t...
Financial mistakes people make in divorce
Discussing “what will happen if we get divorced”, particularly financially, is a conversation that is often avoided before entering into a marriage agreement because it is deemed unromantic or tainting a marriage before it’s even started. But this...
Financial Emigration or Double Taxation Agreement?
By Jonty Leon, Attorney and Financial Emigration Legal Manager and Claudia Aires, Head of Financial Emigration at Financial Emigration. There is a lot of misinformation circulating in the South African expatriate community, perpetuated by service...
Millennials: it’s time to wake up
Forget retirement and start thinking out of the box! The latest Sanlam Benchmark Survey on retirement reveals that the average retirement savings balance for a person of the age of 37 is only R90 000, and the average for millennials (people between...
Previous Articles
Can you save money by homeschooling your children?
With the cost of education rising, parents are increasingly considering homeschooling as an alternative. But how much can it really save you? Private schooling has become increasingly expensive in South Africa. Fees vary depending on the school but according to...
Survey reveals confusing complexity in medical gap cover products
GTC launches inaugural Gap Cover Survey to rank and categorise all providers in South Africa Sanlam and Absa have emerged as the top-ranked medical top-up ‒ often referred to as ‘gap cover’‒ providers in South Africa, according to the first ever ranking of these...
What are your rights if a business goes bust?
When the economy takes a knock it’s not only consumers who struggle ‒ businesses struggle too. During the tough times it’s not uncommon for businesses to go bust as they battle to make ends meet. But it’s not always the economy that puts a strain on companies....
Understand the risks when dealing with a pawnbroker
When his son was selected to attend a music competition in Europe, like any parent Malcolm (name changed at reader’s request) was prepared to do anything to make it happen. Unable to get a loan to cover the cost of the air tickets, he and his wife approached a...
Your UIF questions answered
Please note that this website cannot answer your questions about your UIF application. You must apply and submit your continuation forms via the UIF website. If you are struggling with the online application process, you can email Ms Ditoro Makgato, Mr Deon van...
eWallet eXtra: getting banked in minutes
First National Bank (FNB) has announced the launch of eWallet eXtra, a mobile bank account that allows unbanked and underbanked South Africans to use a feature-phone or smartphone to open a bank account without submitting paperwork at a branch. The solution will be...
Claim statistics reveal our biggest risks
Cancer, car accidents and retrenchment are major risks for younger people. Both Momentum and Liberty recently released their claim statistics, revealing some concerning trends especially relating to cancer and claims among younger clients. Momentum statistics show...
A Mother’s Day gift worth a thousand boxes of chocolates
Why not skip the chocolates and the bubble bath on Mother’s Day this year, says Emma Heap, Chief Growth Officer at 10X Investments, and give your mother something really meaningful? We know Mother’s Day is upon us when the supermarket shelves are crammed with boxes of...
What happens to your joint mortgage when your partner is placed under debt review?
Your joint mortgage may form part of your partner’s debt review without your consent. If you are married in community of property and your spouse is placed under debt review, so will you, because you share a joint estate which includes all debt. However, what about...
Factors to consider when ceding your life policy
By Lee Bromfield, CEO of FNB Life Many consumers who are eager to finalise the house-buying process often rush into taking out and ceding life insurance without first doing their homework. The ceding of a life policy involves legally transferring a portion of the...