When we think of intergenerational wealth, we often think of trusts and the proverbial trust-fund baby. While trusts can be a great way to house intergenerational wealth, over the last ten years there have been significant changes to laws that...
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The psychological impact of taking control of your finances
Taking control of your finances has a profound impact on your overall wellbeing, resulting in reduced stress, improved relationships, and better self-esteem. Writing up a budget, tracking your spending, and creating a debt repayment plan will not...
Should I cash out my pension?
I’m thinking about resigning so I can cash out my pension and rather invest the funds myself. What are the pros and cons of doing this? Maya's Answer Some people feel more in control if they can manage their own investments, however, this is not...
The unexpected value of not getting a year-end bonus
Freelance writer Capo Cassidy ponders the possible upside of not getting a year-end bonus. It’s year-end bonus season, and for the first time in many years, having stepped off the treadmill of a corporate job, there is not a glimmer of hope that I...
Could advisers be held liable for ponzi losses?
As information comes to light regarding the BHI Trust investment scheme, investors are questioning the role of their financial advisers and whether they have recourse against bad advice. Many individuals had trusted the investment of their life...
Women in Conversation: Navigating money conversations in a relationship
Money is not only rands and cents – it is also a currency of emotions, which is why money conversations are so hard. In this podcast, Maya and Andrea have a candid discussion with relationship therapist Connie Valkin about how to have these...
Why it’s so easy to blame the banks
The reason we have a weak rand is a bigger issue than short-term trades by the big banks. A colleague of mine recently told me, “I hate banks”. And it seems she is not alone. If I post a comment that is critical of a bank, my timeline is soon...
Listen: How I transformed my relationship with money
The power of taking back control of your finances Maya speaks to Zihle, the runner-up in the 2023 Absa City Press Money Makeover Challenge, about her personal journey and how – with the help of her financial adviser Anton Battiss – she has...
And the winner is…
The winner of the 2023 Money Makeover Challenge has been chosen. The 2023 Absa City Press Money Makeover boot camp has come to an end and once again, all of our candidates have shown what is possible in just six months. They are proof that the...
Listen: How I paid off R85 000 in just six months
How this year’s Money Makeover Challenge winner is well on his way to being debt free. In this podcast Maya speaks to Johan, the winner of the 2023 Absa/City Press Money Makeover Challenge, and his Absa financial adviser, Takalani Badugela. Johan...
Previous Articles
Don’t fall victim to a delivery scam this festive season
A delivery scam usually takes the form of an email that pops up in your inbox telling you that you have a parcel waiting for you, and that you should click on the provided link for further details on the necessary steps to get your parcel delivered. As the festive...
Women in Conversation: Protecting your family
When you get married, there are so many exciting things to focus on like the wedding dress, invitations, and the honeymoon. And when you have a child, your life becomes so busy as you care for your growing family. The last thing you want to think about are the...
Debt is often just a click away
How social media can encourage you to overspend and destroy your finances. Once upon a time, it was easy to see when you were about to get into debt. You saw cash leaving your wallet and knew from the balance in your account that you needed to stop spending. With the...
Investing offshore is easier than you think
It is becoming easier and more affordable for South Africans to invest in offshore funds. Pieter Koekemoer, head of Personal Investments at Coronation, has some advice for those interested in investing offshore. Many investors saving to retire in South Africa through...
Funding your start-up
When Sello entered the Money Makeover Challenge, he was establishing a start-up business to manufacture eco-friendly straws for restaurants and retailers. He had taken out personal loans to purchase manufacturing equipment to produce the prototype. Like so many...
How do South African women feel about investing?
There is a significant gender confidence gap when it comes to South Africans’ attitudes towards investing. In 2021 Fidelity, a large asset manager in the US, ran a nationwide survey to understand women’s attitudes towards investing and their investment behaviour. The...
Women in Conversation: Creating financial equality in a relationship
Money conversations are hard. They are harder than conversations about sex or the in-laws. But there is seldom financial equality in a relationship, and this inequality often causes conflict. The person who makes more money tends to have more power in the relationship...
Virtual consultations – a way to cut medical costs
Most South African medical schemes now offer some sort of remote health consultation service. Making use of these virtual consultations is a great way to save on medical costs. My scheme (Momentum Health) offers a service called Hello Doctor free to all members. It...
Tips when considering a solar PV system
Teresa Kok, Marketing Director of the One Energy Group, provides some solid, practical advice for anyone considering installation of a solar PV system. For many households and businesses, investing in a solar photovoltaic (PV) system has been essential in order to...
Supporting a family through self-employment
When a Money Makeover candidate has a small enterprise, we always start with separating business finances from personal finances. This is the only way to understand whether the business is making money and where the weaknesses are. Raymond’s situation is all too...