Before raising the white flag, it is worth pointing out that the global economy survived a worse scenario four years ago, writes Patrice Rassou, head of Equities at Sanlam Investments. A last-ditch volte-face agreement by Greece to EU austerity...
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Time to stress test your finances
Many households are already seeing the impact of rising interest rates on their budgets. With interest rates increasing 100 basis points over the last three years, the prime lending interest rate has risen from 8.5% to 9.5% since 2012. To put that...
Doing good is good business
Pick n Pay aims to reduce landfill waste and create 20 jobs a week, and challenges banks to reduce fees It is refreshing to see a business leader actively working on environmental and social issues as well as challenging government and other...
Insurance: protect your future income
Episode 4 of the Change In your Pocket series deals with protecting your biggest asset: your future income. https://www.youtube.com/watch?v=aQHqXXrhaoc – Video supplied by BrightRock Welcome to The Change Exchange, where we are helping you find...
Voluntary withdrawal from debt review
You can withdraw from debt review if your financial situation has changed significantly or you only have your mortgage left to pay. Earlier this year new guidelines were issued as part of the National Credit Amendment Act (NCAA) around when a...
Alarming increase in ‘payday’ loans
The DTI’s decision to delay the implementation of the NCA Amendments relating to affordability tests has caused a delayed crisis of larger proportions. Many South African consumers have experienced an inexplicable increase in the invasive marketing...
Using your pension to secure a home loan
A pension fund is usually the largest asset owned by an individual and it makes sense that it could be used to provide collateral for a home loan, especially for a first-time home owner. This benefit also encourages individuals not to cash in their...
Setting up an emergency fund
Watch Episode 3 of the Change In your Pocket series for advice on setting up an emergency fund. https://youtu.be/zreJg6744II – Video supplied by BrightRock Welcome to The Change Exchange, where we're helping you find ways to make the most of out of...
The ins and outs of a buy and sell agreement
Tanya Lochner of Glacier Fiduciary Services discusses a buy and sell agreement as an exit strategy where there are two or more partners in a business. A business needs to prepare for the event of one or more of the partners dying or becoming...
Funeral cover vs life insurance
Albert Theyse, Head of Sales at O’Keeffe & Swartz explains that life insurance covers the important long-term needs for your family in the future when you are no longer around to provide ongoing financial security. Funeral cover provides the...
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Tell your money where to go
Watch Episode 2 of the Change In your Pocket series for tips on how to draw up a budget. https://youtu.be/x8yK7_RgzyU - Video supplied by BrightRock So you’ve just landed the job of your dreams along with that salary bump that’s going to solve all your money problems....
Common mistakes around trusts
There are several common mistakes around trusts, particularly when a trust has been set up for estate-planning purposes, to protect assets from creditors and for potential tax savings, writes Sumesh Somaroo, audit and assurance partner at BDO Durban. Trusts are...
Cellphones: to contract or not
I have always had a cellphone contract. In fact, I am embarrassed to admit that I recently had to ask someone how to buy pre-paid data. The thing is, I got my first cellphone back in the dark ages when phones where the size and weight of a brick and contracts were the...
Market turmoil: don’t panic!
By Carl Roothman, Head of Retail Business at Sanlam Investments We are well aware that an adviser’s job is never done. No matter how thoroughly you explained to your clients what to expect from the equity market, when markets suddenly fall and alarmed investors start...
How much should I be spending?
So you’ve just got your first pay cheque and the temptation to go and blow the whole lot on a new wardrobe or a deposit on the car of your dreams will be huge. But you know that you also have to pay those boring expenses like rent, food and petrol. So how should you...
Taxpayer-unfriendly changes to Tax Administration Act proposed
Proposals contained in the Tax Administration Laws Amendment Bill of 2015 would dramatically decrease the amount of time in which the Commissioner is permitted to issue a reduced tax assessment, writes David Warneke, Director and Head of Tax Technical at BDO South...
Common mistakes to avoid when drafting a will
If you have a will, you’ll have the last word on what should happen to the fruits of all your hard work when you are gone, right? Not quite, says Sanlam Trust legal adviser, Clive Hill. Wills have split up families, turned siblings into prime enemies and wasted...
The dubious world of credit insurance
Chickens are coming home to roost for the credit insurance industry. Last month the National Credit Regulator (NCR) referred the financial services arm of JD Group to the National Consumer Tribunal for the mis-selling of credit life policies, highlighting the type of...
Is a wealth tax likely for South Africa?
Professor Matthew Lester weighs in on a wealth tax and whether it is a solution to South Africa's revenue needs. The Davis Tax Committee (DTC) believes that a wealth tax for South Africans is not the universal solution to South Africa’s revenue needs. This is the view...
Millions owed in unclaimed benefits
Around R20 billion of pension fund assets remains unclaimed by an estimated 3.5 million pension fund members or their beneficiaries. This is according to the Financial Services Board (FSB) which recently held a round-table discussion to address the issue of unclaimed...