Could your bank be charging you an “honouring fee” when you go over your credit limit, just to save you embarrassment at the till? Have you ever been in a situation where you are out shopping and happily using your credit card, thinking all is...
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PayShap can reduce cash payments
PayShap could be a game-changer in South African banking, effectively eliminating the need to make cash payments. From a banking customer perspective, PayShap is simply another payment channel to add to the various options already available. One...
Listen: What is behaviour tax and how can we avoid it?
In this first episode of a six-part podcast series entitled “Emotions and Money”, Maya chats with Paul Nixon, head of behavioural finance at Momentum Investments, about “behaviour tax” ‒ the true cost of our poor investment decisions. What is...
Can debt counselling help your credit score?
Have you thought about applying for debt counselling but decided against it, because you weren't really sure of the benefits? One benefit you may not have considered is that successfully completing debt counselling could help your credit score....
How to fund your solar panels
In February’s budget speech, the government introduced some tax relief for households who wanted to get off grid by investing in solar panels. However, this relief won’t help to fund the entire installation cost, and with solar panels costing in...
PayShap: instant payments with just a cellphone number
PayShap is a new payment technology available in South Africa that allows anyone to transfer money into someone's bank account using just a cellphone number. In order to be paid directly into your bank account, you no longer need to share your...
“On-the-road” fees hide the true cost of a car
A North Gauteng high court ruling recently found that vehicle financing houses are not required to repay customers for “on-the-road” fees. This related to a finding in 2017 by the National Credit Regulator which determined that the “on-the-road”...
The Money Makeover Challenge is looking for you!
The City Press Money Makeover Challenge is once again open for applications. There are only six places available so only the most committed applicants will be considered. If your debt keeps you awake at night and your money is running out long...
Do you have money regrets?
Young people just starting out on their financial journey can learn a lot from the money regrets of older people. Research commissioned by Sanlam that interviewed more than 5 000 South Africans, found that more than half would advise their young...
Time to analyse your banking fees
If you feel your banking fees are too high, you may need to review your banking behaviour. The recent Solidarity Bank Charge Report rates FNB as one of the best value-for-money banks, with the average middle-class customer able to bank for less...
Previous Articles
Can you use a pension-backed home loan to help take you off the grid?
A pension-backed home loan could be a possible solution if you're looking for a way to finance alternative energy sources for your home. Consumers are in a tight financial squeeze, with an increase in fuel prices in February, coupled with an interest-rate increase of...
Property scams to watch out for
Jackie Smith, Head of Buyers Trust, warns that prospective tenants and home-buyers are becoming the targets of increasingly sophisticated property scams. Over the past two decades, internet sites such as Property24, Facebook Marketplace and estate agency websites have...
Listen: Money moves for newlyweds
In this podcast, Maya and Moroka Modiba, author of Think Yourself Rich, discuss how newlyweds should start managing their finances together, why a household budget is important, and the shared goals that need to be discussed. Moroka also unpacks the various...
What to do if your car needs to be towed
It’s something that happens to most of us at some point in our driving career: getting stranded at the side of a road with a broken-down vehicle. But do you know the right procedures to follow if your car needs to be towed? Whether it’s due to an accident or...
Are you invested in a Ponzi scheme?
When an investment promises a guaranteed return above what a cash investment would yield, chances are it's a Ponzi scheme. “Do you think this investment is legit?” That's a question I receive at least once a week. While it's great that people are starting to become...
Beware these fraudulent companies
Over the last few months, the Financial Sector Conduct Authority (FSCA) has issued several warnings against fraudulent companies and individuals that it believes are putting people’s hard-earned money at risk. None of these companies or individuals is a registered...
Will foreign talent reforms work?
Will President Ramaphosa's SONA announcement on reforms to attract foreign talent really benefit South African critical skills employers? "We certainly welcome these initiatives as a win for organisations that are desperate to acquire scarce skills that are not...
Listen: Unpacking the annual budget speech
There have been mixed reactions to Minister of Finance, Enoch Godongwana’s annual budget speech this week. The general feeling is that while the financial manoeuvrings by National Treasury are commendable, there appears very little faith in government’s ability to do...
GEPF targeted in disinformation campaign
Over the last month the Government Employees Pension Fund (GEPF) and its fund manager the Public Investment Corporation (PIC) have been the centre of what appears to be a disinformation campaign. This has been fueled by social media posts claiming that there is an...
How to manage family demands
National Treasury’s response to Eskom can be a lesson on managing family demands. You get a call from a family member who urgently needs money for some emergency. Your finances are stretched, and you have already provided support to the person. How do you handle the...