As access to banking services through digital channels continues to grow, so does the need to protect consumers against the prevalence of online banking fraud. Yolande Steyn, Head of Innovation at FNB says, “We view security as an integral part of...
Digital currencies are a form of electronic money, that are as liquid as normal fiat currencies. There are currently over 600 digital currencies – also known as cryptocurrency – that are already in the market. They function the same way as regular...
US President Donald Trump famously declared himself bankrupt four times – a fact that Hillary Clinton loved to rub his nose in. In South Africa, filing for bankruptcy is possible, but it’s not easy. “If someone files for bankruptcy or...
By Mokgatla Madisha, head of Fixed Interest at Sanlam Investment Management. The downgrade by Standard & Poor’s (S&P) of South Africa’s local-currency debt to one notch above junk (BBB-) and its minority foreign-currency debt to junk status...
How women are navigating relationships as the breadwinner. After a talk I had given at a Women’s Day breakfast, a woman in her early 30s came to chat to me about an issue that faces many financially independent women. My talk had been about the...
By David Thomson, Sanlam legal adviser If you have a trust and have transferred some assets to it without being paid, you may soon have to start charging the trust interest, or be liable for donations tax. This change to the Income Tax Act came...
The experience of an 80-year-old widow turns into an important lesson on why every woman needs to have her own credit record. https://youtu.be/bDhwXXcJOiY Related: Women and money Should a wife have her own financial adviser? Why money is different...
A new travel site allows you to pay for the holiday of your dreams without going into debt. Last year I took issue with a new travel company that offered customers the ‘opportunity’ to borrow money to fund the holiday of their dreams. I argued that...
By Cathie Webb, Director, South African Payroll Association Minister of Finance, Pravin Gordhan, released updated tax tables on 22 February during his 2017 budget speech. We understand that many of us will be paying more tax and therefore taking...
Many of us would have prioritised our health and fitness in our New Year's resolutions, which may have included joining a gym. But before you signed on the dotted line of your gym contract, did you make sure you were familiar with the terms and...
This year our family is working our rewards programmes to cover the costs of medication. After realising we would pay R1 500 less per month on our premiums if we selected a medical scheme option that did not cover my son’s R900 per month chronic medication, it was a...
How much will you pay for advice once RDR comes into effect? It’s not too soon to engage your financial planner in a conversation about how much you will be charged for financial advice and for product-specific advice, says Jacques Coetzer, general manager of Broker...
A cap placed on how much a lender can charge for credit insurance could result in cheaper loans, but some warn it could also cut credit to higher-risk individuals. Last month the Department of Trade and Industry issued the final credit life insurance regulations which...
Court ruling may put an end to banks transferring funds without permission. Last year I came across the case of a Standard Bank client who had money deducted from his current account to settle his outstanding credit card, without his permission. In this specific case,...
When buying an investment property, you need to do your homework carefully to avoid your property becoming a financial ball and chain. While astute investors can make money, property has significant holding costs and is not as liquid as other investments. For anyone...
In his 2017 budget speech, finance minister Pravin Gordhan announced increased tax revenues of R28 billion, the bulk of which will come from increased personal income tax and higher dividend tax, avoiding the politically sensitive issue of an increase in VAT. 16.5bn...
While we are getting our debts under control, we are not investing in wealth-creating assets. The recently released South African Household Wealth Index for the third quarter of 2016 identified some interesting trends around household wealth accumulation. The findings...
By Paul Leonard, CFP®, Regional Head, Citadel It is often said that there are no right or wrong investments but rather appropriate and inappropriate investments. Much has been written about tax-free savings and investment accounts (TFSAs) and there was considerable...
As motherhood and entrepreneurship are becoming more and more synonymous, many momtrepreneurs are learning that it’s entirely possible to take critical time off to care for a new member of the family while still maintaining a healthy business. All it takes is a little...
Modern medical advances have made it possible for more and more people to beat cancer. When it comes to breast cancer, early detection and diagnosis mean that survival rates have gone up dramatically. In fact, almost two out of every three women with breast cancer now...