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...
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A budget for your first paycheque
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...
Cybercrime syndicates running rampant in SA
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’...
Addressing the gender pension gap
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...
Listen: How bank scams work
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...
Building vs buying a home
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,...
Can our fragile currency bounce back?
Renier de Bruyn, Head of Asset Allocation at Sanlam Private Wealth discusses the outlook for our fragile currency: whether there's a chance it may return to ‘fair value’ over time, and how this impacts long-term investment decisions. The rand has...
How to break the cycle of debt
A strong theme that emerged in the Money Makeover Challenge this year was the extent to which applicants have built up large amounts of debt in a short period of time. This phenomenon is driven by the rising cost of living and increasing interest...
Easy-access funds with high interest
Money market unit trusts and income funds I recently looked into some of the great interest rates that banks are offering on fixed deposits. But what if you don't want to lock your money away for a fixed period of time? Money market unit trusts and...
Criminal syndicates can hack your phone in minutes
Criminal syndicates are targeting the theft of cellphones not for the value of the phone, but rather to access your data including your banking apps. This is according to Kevin Hogan, head of fraud risk at Investec Private Bank. Hogan says that...
Previous Articles
Listen: Take this opportunity to boost your retirement income
In this podcast Maya speaks to Deane Moore, CEO of the Just Group about how to use a guaranteed annuity to boost your retirement income, even if you are already in retirement. If you have a retirement annuity or a pension fund, you should know that when you retire,...
What is a TFSA and why you should open one
Opening a tax-free savings account (TFSA) is a great way to start investing. If there is one investment all South Africans should aim to have it is a tax-free savings account (TFSA). This is an excellent investment vehicle for growing long-term wealth and there are so...
Allegations of corruption around tax refunds
Rumours are circulating about corruption around tax refunds, though it's unclear exactly how this is possible within the current tax administration system. Administrative delays and poor service delivery in any organisation create fertile grounds for corruption. This...
How to keep track of your spending
If your debt keeps increasing, then you are spending more than you earn. The first step to financial freedom is to keep track of your spending. Every year, the first task our Money Makeover candidates undertake is to see where their money is going – to take a detailed...
Tax refund delays causing frustration
Tax practitioners have been raising concerns about tax refund delays, while SARS says it is dealing with the challenges. While 90% of tax returns are processed without further verification by SARS, those taxpayers who are identified for further scrutiny find...
The upside of high interest rates
While borrowers are struggling with the ever-increasing interest rates, savers are loving the high interest rates currently on offer. Savers are getting better returns on their bank deposits, and for those people who are prepared to lock their money away in a fixed...
Listen: Six-month journey to financial health
The 2023 City Press/Absa Money Makeover Challenge has begun. This is the seventh year where I will work together with a team of Absa financial advisers to coach six contestants on their six-month journey to financial health. In this podcast I chat to Sarah Nkwana of...
Is a R51k salary enough to comfortably afford bond repayments?
Viral Twitter thread sparks property industry debate Recently, a hypothetical question was posed around what South Africans could afford on a R51 000 net salary. This became a trending topic on Twitter, sparking debates over whether these earnings would be enough to...
Why the NHI Bill is unworkable
Jacqui Nel of Aon South Africa looks at some of the issues surrounding the implementation of the NHI Bill. On 12 June 2023, Parliament passed the National Health Insurance (NHI) Bill, and many stakeholders in the healthcare industry are concerned as to what the...
The Money Makeover Class of 2023
Follow six ordinary South Africans as they take up the City Press/Absa Money Makeover Challenge and undergo a money makeover boot camp. I will be sharing their stories with you and hopefully inspire you to start your own money journey. Meet the Money Makeover Class of...