Many South Africans are finding themselves supporting their aging parents, thanks to the combination of a tough economy and insufficient retirement funding. But it’s critical to plan this key transition carefully to ensure your own finances stay on...
Roné Swanepoel, Business Development Manager at Morningstar South Africa, provides compelling evidence that trying to time the market invariably has disastrous results. Let’s start with a thought experiment. If you look back on your investment...
Financially stressed out, drowning in debt and struggling to buy the basics, were the overwhelming results of two separate financial consumer surveys recently released. DebtBusters’ second annual Money-Stress Tracker, which surveyed 35 000...
Managing family expectations may include having tough conversations with parents and relatives before you agree to help them financially. Setting boundaries with family members is always difficult, but if you do not look after your own finances...
Ensuring that your life cover includes an immediate payment benefit is the key to getting a partial payout in only 48 hours. One of the main reasons for taking out life cover is to provide for your dependants after your death. If you have family...
FNB, Standard Bank, Absa and Nedbank are leading the way in supporting solopreneurs. But what should you know before you apply for an entry-level business account? Angelique Ruzicka investigates. Solopreneurship (a reference to individuals who...
September is Wills Month and in this podcast, we discuss how you can use your will to protect your child’s legacy. Maya speaks to Alex Simeonides, CEO of Capital Legacy, about how parents can navigate the complexities of estate planning. Navigating...
An offer from your bank of fixed installments on your home loan might seem like great news, but be aware of the costs further down the road. Standard Bank announced that it is providing some breathing space for more than 20 000 home loan clients by...
TymeBank, Capitec and Discovery Bank have now joined Absa, FNB, Nedbank and Standard Bank as part of the PayShap payment system which allows for instant payments between bank accounts. PayShap, the brand name for the Rapid Payment Programme, is a...
While financial independence is a goal many people aspire to, it means different things to different people. For some people, financial independence means having enough capital to provide an income that covers their expenses. This is the goal...
Several scams have claimed to be stokvels in an attempt to gain legitimacy. The word stokvel tends to be used very loosely by people who are trying to legitimise a scam. At no point did United African Stokvel (UAS) ever operate as a stokvel. It was an investment fund...
There has been a great deal of media coverage regarding the investigation into United African Stokvel (UAS) by the Financial Sector Conduct Authority (FSCA). Thousands of investors claim to have lost money, with losses estimated to be around R100Â million. Many of...
An important aspect of financial wellness is mental wellness. Financial stress can cause emotional stress: it impacts our relationships and our workplace. As part of this year’s Money Makeover Challenge, I had a discussion with Dr Lesego Rametsi, group head of health...
Rory Brachner, Managing Director at DoshGuide, provides some tips on how you can recognise great financial advice. There are tens of thousands of financial advisors in South Africa, but there is considerable variability in the quality of advice they offer. Many will...
If you're a homeowner under financial pressure, one way of reducing your monthly expenses is to extend your home loan. Homeowners in South Africa are under immense financial pressure these days due to the high interest rate coupled with the increasing cost of living....
Before you spend your first paycheque on luxuries, make sure you draw up a budget. Once you graduate and start working, it may feel like you have won the lotto. You go from struggling student to having your first paycheque. This novel feeling of wealth is often short...
Recent data from TCG Forensics shows that South Africa is being overrun by cybercrime syndicates, with the country rapidly emerging as the ‘cybercrime capital’ of Africa. South Africa is poised to surpass Nigeria and its notorious ‘Nigerian Prince’ scams in terms of...
South Africa’s gender pension gap sits at 26%, reflecting the average difference in retirement income between men and women. Farzana Botha, Segment Manager at Sanlam Risk and Savings, says that often, women cannot afford to retire as early or as comfortably as men....
In this podcast, Jean Rossouw, Head of Financial Education at Capitec, and Nick Harris, Head of Financial Crime at Capitec, explain to Maya how various bank scams work, how to identify a scam before it is too late, and what to do if you are a victim. As banks improve...
When it comes to finding a new home, the building vs buying question is ever-present, and deciding between buying an existing property or building from scratch can be daunting. “There are numerous factors to consider including location, customisation options, and...