Any changes relating to early access to funds in a private-sector pension fund or RA will have no bearing on members of the GEPF. I have received many queries from readers about the proposal to allow members of retirement funds limited access to...
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Save on back-to-school essentials
With the planned re-opening of schools some time over the course of January, parents are bracing themselves for the annual grudge purchase of back-to-school essentials. These including stationery, textbooks, sports kit and other required equipment....
The best way to settle your car finance
Advance payments on car finance do not work the same as on your home loan, so it’s worth understanding how to make the most of it. Any debt that you pay off sooner than required will save you money on interest. However, you need to understand how...
How to negotiate your retrenchment package
The law makes no distinction between voluntary retrenchment and forced retrenchment. This means that the same benefits apply whether you accepted the package voluntarily or were forced to take it. These benefits include a tax exemption of up to...
FSCA to regulate crypto-assets
Globally there has been an increase in the number of retail investors wanting to purchase crypto-assets. Unfortunately this has seen an exponential increase in the number “crypto-scams”. This is where unregulated entities and individuals promise...
Structure your 13th cheque so you receive your full bonus
If you were unpleasantly surprised by the tax bill on your 13th cheque, change the way you structure your salary package so you lessen the tax impact. According to Jetro Malapane, member of the Executive Committee of the South African Payroll...
Financial resolutions you can stick to
It’s that time of year when we all make our New Year’s resolutions. The secret to a successful resolution is to keep it simple and to break it down to something manageable. For example, don’t’ say “I am going to be debt free.” Rather select one...
SMEs optimistic despite COVID challenges
South African small business owners are a resilient bunch: 86% of those recently surveyed by Retail Capital said that their business will survive the pandemic. This despite the majority not receiving relief from their landlords or financial...
Hindsight, foresight and change at the speed of light
By Izak Odendaal and Dave Mohr, Old Mutual Wealth Investment Strategists. Hindsight, they say, is 20/20 vision. This being the year 2020, it turned out to be truer than ever before. For investors, and all of us really, there was so much about this...
Video: 40 days to payday
Most companies pay December salaries early, so there is a good chance many of you have already been paid by December 15 While it is a great feeling to receive money early, especially with the financial demands of the festive season, keep in mind...
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Avoid starting January with more debt
If you do just one thing this festive season, plan for those 40 days to the next paycheque. Right now, the best thing you can do for your financial health is to plan for December and January. In most cases when people write to us with financial difficulties it is...
Video: Plan to celebrate
Most of us are going to feel cash strapped this festive season due to the financial strain of the COVID-19 lockdown. But we also need to have something to celebrate and to look forward to. We can do this if we put a plan in place. Set a budget Decide upfront how much...
Why it pays to be a member of the GEPF
As a financial journalist I am increasingly concerned about misinformation provided to members of the Government Employees’ Pension Fund (GEPF) by unscrupulous financial advisers. A recent example is a reader who was told by an adviser that on retiring after 20 years...
Listen: How to negotiate your retrenchment package
In this podcast, Maya (@mayaonmoney) speaks to labour lawyer Michael Bagraims about your rights when it comes to voluntary retrenchment – the benefits you receive, and what rights you give up. If you are being offered voluntary retrenchment, listen to this first.
Absa admits to data leak
Absa recently announced that an employee had “unlawfully made selected customer data available to a small number of external parties.” According to Absa, the data leak relates to a small portion of Absa South Africa’s customer base, and while it included personal...
Video: Investment scams
The current economic situation, with job losses, low interest rates and poor market performance, has created the perfect opportunity for scamsters to promote dodgy investment deals to try and lure unsuspecting victims. To tell us more about investment scams, I am...
Court rules for insurer to pay up
The global shutdown in the face of the COVID-19 pandemic is testing the clauses of insurance policies – specifically business interruption insurance – with claimants and insurers across the world fighting it out in court. The Western Cape High Court recently issued a...
Listen: What you need to know about car finance
How does a balloon payment work? What questions should I ask my dealer? Can I settle my car finance early and what happens if I want to give my car back? Maya (@mayaonmoney) chats to vehicle financing expert Henry Botha of Absa Vehicle and Asset finance to answer...
Making the home loan process less painful
Buying a home can be a very emotional experience. You’ve found the home of your dreams and imagined yourself living there, and then you take the financial leap of committing yourself to a home loan and years of repayments. Yet the home loan application and transfer...
Video: Prepare for the weather
The summer rainy season is in full swing in Gauteng. The province has already seen heavy rain, flash floods and hail, and authorities have warned that more extreme weather is on the way. It is not surprising that this is the time of year that property damage due...