Don't fall into the trap of taking on unnecessary consumption debt in a misguided attempt to build up your credit record. Far too many 20- and 30-year-olds are struggling to meet monthly debt repayments, impacting their ability to break the...
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Advice on a consolidation loan
Tstati writes: I am looking for a consolidation loan to consolidate my debt. There are several companies that I came across with this product, but I'm not sure how credible most of them are. Maya replies: Debt consolidation is not necessarily a...
An easy investing platform
So you finally decide to venture into the world of shares and market movements, but where can you find a platform that is friendly for the beginner investor? Often eager investors give up when they are faced with a trading or investing platform...
Borrowing could get cheaper, but less available
Late last year the Department of Trade and Industry (DTI) made two announcements that could see the cost of borrowing reduced. The DTI has adjusted the maximum interest rate that will be allowed on loans from May 2016 (see below) and also released...
Where can I report an illegal garnishee order?
Nkosenhle writes: I took a loan from a credit provider in 2002 and after a few payments I was unable to continue, so the company issued a garnishee order against my salary until the amount was paid off. Despite having settled the amount, after a...
It takes discipline to reach your goals
I recently required surgery to my ankle after sustaining a serious injury quite a while back. Thanks to this ongoing ankle saga, if I ever want to be able to hike and run again I am going to have to commit to some serious rehabilitation work which...
How much tax will I pay if I cash in my pension?
Willie writes: I am planning on leaving my employer after 25 years and I want to cash in my pension fund of R2.1 million. How much tax will I pay? I am 50 years old. Maya replies: When you resign and cash in your pension, the tax is worked out on a...
Ensure your travel insurance meets your needs
While attending a business conference in Guangzhou, China, Mrs Sithole collapsed and was rushed to the intensive care unit of a local hospital with cerebral bleeding. She was diagnosed with an aneurysm and was hospitalised in China for four and a...
Have I got the right investment?
Makabongwe writes: I believe in investing for growth but I don't have sufficient knowledge about unit trusts. Currently I have invested in Allan Gray unit trusts via debit order. I am worried that I have not selected the correct funds, namely the...
Should credit cards have a health warning?
In this podcast we search for the truth behind credit cards – are they really a good thing to have in your wallet? We chat to Chris Labuschagne, CEO of FNB credit card and we asked him how many of their customers pay off their cards in full at the...
Previous Articles
How you should be blowing your year-end bonus
Regard Budler from Momentum explains how much of your year-end bonus you can add to your company retirement fund for maximum tax benefit. For those fortunate enough to receive a year-end bonus, the burning question is: “How do I spend this money?” Shopping spree,...
Limit storm damage claims
It's that time of year again, when storms and hail hit the northern parts of the country, so insurers have started to issue reminders of the precautions you can take to minimise storm damage. Johan van Greuning, head of Standard Insurance at Standard Bank says that in...
Can my employer force me to have a medical aid?
Themba writes: Our employer is an NGO that doesn't subsidise the medical cover of employees yet it is compulsory to have medical cover according to the employment contract, unless the employee is dependent of someone else's cover like the spouse. The employer deals...
What the Treasury musical chairs means for investors
By Dr Adrian Saville, Chief Strategist, Citadel On Sunday evening, President Zuma delivered a second major surprise to capital markets in the space of just five days by announcing that, after receiving numerous representations to reconsider the appointment of David...
Teach your child to save
What's your child's money personality? Natural saver or spender? In episode 13 of the Change in your Pocket series, we give you tips on how to teach your child to save. http://www.youtube.com/watch?v=tpp9L7_Q_JU&feature=youtu.be – Video supplied by BrightRock Welcome...
Survey reveals South Africans’ gift and holiday dreams
Technology gifts and beach holidays come out tops, while most of us keep mum when we get gifts we don’’t like. A snap holiday survey conducted by Visa in South Africa has revealed what South Africans want most for Christmas gifts, where they want to travel and those...
The economy: what to expect in 2016
By Sanisha Packirisamy (Economist) and Herman van Papendorp (Head of macro research) at MMI Holdings. Global central banks to remain in the spotlight We are likely to see a further desynchronisation in major global economies in 2016 as a firmer growth outlook and...
Retirement reform going ahead
By Vickie Lange, Institutional Best Practice Specialist at Alexander Forbes Last year the tax changes to all retirement funds and the retirement benefit changes to provident funds (together known as T-day changes) which were originally scheduled for 1 March 2015 were...
Pocket money
Episode 12 of the Change in your Pocket series looks at pocket money, and how you can use it to teach your children about the value of money and how to manage it. https://youtu.be/dFstCrhEcN0 – Video supplied by BrightRock Welcome to The Change Exchange where we are...
Absa allows customers to reverse illegal debit orders
Absa is the first bank to allow customers to reverse unauthorised debit orders online. Debit order fraud is on the increase in South Africa. Syndicates are obtaining a database of accounts illegally, and hitting these accounts with small amounts. According to the...