Tshepo writes: I would to know what the next step is, after you have settled your debts, to improve your credit score – in other words, clear your credit record. Maya replies: According to the office of the Credit Ombud, once the consumer has...
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Merging your finances
When you get married, it's not just your hearts that become one, but also your money. https://www.youtube.com/watch?v=piYXZDq5TJQ&feature=youtu.be – Video supplied by BrightRock Welcome to the Change Exchange, where we're discussing rings and...
Why buy a TV when you can rent it?
There is much to be said for renting when it comes to electronics, appliances and even furniture. When I was young, everyone rented a TV, most of them from Teljoy. In those days, TVs were simply unaffordable and credit was not as easily available...
Investing in Europe and Japan without the risk
Unpacking Investec’s latest offshore investment product: the China Seas Basket I am normally not a big fan of structured products. Historically, these products have been expensive, with costs hidden from investors through creative pricing. Even as...
Social media makes you vulnerable to cybercrime
According to statistics from antivirus software provider McAfee’s Global Cost of Cybercrime report, cybercrime costs the South African economy about R5.8 billion a year. In light of Safer Internet Day celebrated on 9 February 2016, Candice...
The cost of tying the knot
How you manage your wedding budget will have a serious impact on your financial future. https://www.youtube.com/watch?v=uJu_uQ68CHE&feature=youtu.be – Video supplied by BrightRock Welcome to the Change Exchange, where we're discussing rings and...
Attractive interest rates for medium-term savings
RSA Retail Savings Bonds are an attractive option for savers. For those who are looking to save for the medium term and don’t plan on touching the money for at least two years, the RSA Retail Savings Bond, offered by National Treasury, is an...
Is the potential downgrade to SA’s credit rating overhyped?
By Nazmeera Moola, Economist and Strategist, Investec Asset Management After the events of mid-December last year (now euphemistically termed Nenegate), many investors – both within the country and from foreign ranks – are justifiably concerned...
High income earners’ retirement reform conundrum
With retirement legislation set to change from 1 March 2016, high-earning executives with annual salaries above R1.27 million who are pension and provident fund members, may be affected by the newly introduced annual contribution cap of R350Â 000....
Understand your marriage contract
Many couples underestimate the importance of their marriage contract, and the implications it has in the case of death or divorce. Watch Episode 16 of the Change in your Pocket series for a detailed explanation of the various marriage contracts. –...
Previous Articles
Changes to how corrections of tax assessments are handled
By David Warneke, Director and Head of Tax Technical at BDO South Africa The Tax Administration Laws Amendment Act of 2015, which was promulgated on 8 January 2016, states that in future SARS will not be permitted to entertain so-called ‘requests for correction’ of...
Is cash appropriate for tax-free savings?
Hlakanyane asks: I am a 52-year-old man and currently contributing R2 500 per month in a tax-free savings account with a bank. This is invested in cash and standing at R15 000 thus far. Is it better to leave it in the bank, to invest with an insurance company or go...
How to talk to your partner about money
Money is consistently the number one thing that couples fight about, so in this episode of Change in your Pocket, we give you practical advice on how to talk to your partner about money. https://www.youtube.com/watch?v=7IZxbNdx4rA&feature=youtu.be – Video supplied...
Saving for your child’s education
The recent student protests have highlighted the high cost of tertiary education. For many, the cost of registration alone is enough to shut the door of opportunity. The South African Institution of Race Relations has reported that only 5% of South African families...
Is your medical scheme healthy?
A lack of young, healthy members is driving up medical scheme costs. The increases announced by medical schemes for 2016 ranged from around 8.6% to as high as 15%. If your medical scheme announced increases well above the market, it could suggest that the scheme, or...
Do you need a credit record to buy a home?
In our article How trying to build a credit record led to a debt-trap, Afika’s decision to take out a credit card to create a credit record ultimately led him into a situation where he had over R70 000 in credit card debt and R3 500 a month was going to pay off his...
How to talk to your child about money
In episode 14 of the Change in your Pocket series, we examine how best to go about discussing money with young children. http://www.youtube.com/watch?v=uoBHYWeKvGY&feature=youtu.be – Video supplied by BrightRock Welcome to The Change Exchange where we're exploring...
How to manage savings as a contract worker
Evans writes: I am 30 years old and work as a contract worker, which means my salary is not fixed and ranges from zero some months to R8 000 in other months. I currently contribute R750 a month towards my retirement annuity and I also contribute R500 a month to a...
Finding the right investment for your stokvel
Strategic Six Savings Club is a group of five 34-year-olds who set up a stokvel nine years ago with the aim of building long-term wealth through saving and investing collectively. With contributions starting at just R250 per month, the group has saved over R200 000...
The cost of a baby
Chantel has been married for almost two years and was caught slightly off-guard recently when she realised she was pregnant with her first baby. “Even though my husband and I are both extremely good at saving, we didn’t have a specific budget for a baby and didn’t...