We should be in the habit of regularly reviewing our insurance cover, but if you haven’t done so for a while, COVID-19 lockdown is the perfect opportunity to make sure you have the correct cover in place and even save on premiums. You may find that...
The Consumer Goods and Services Ombud recently released its annual report. Over the past year, it resolved over 8 600 complaints of which 65% resulted in a favourable outcome for consumers. The average turnaround time was 42 days. The CGSO is not...
Is there such a thing as good credit? What forms of credit should you avoid at all cost? In this podcast, Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss the good and dark side of credit and whether the concept of the lay-by will come...
A salary advance could be an attractive alternative to a traditional payday loan. A few years ago, I came across an article about how Walmart in the US allowed its workers to access a portion of their already-earned salary before month end. For...
Most of us know that we should have some emergency cash stashed away for a rainy day, but how many of us actually do it? With the COVID-19 pandemic came job losses and salary cuts for many South Africans, and this in turn is shining a very bright...
Many South Africans believe that their retirement funds are under attack. Financial planners are inundated with queries from concerned clients and some are even stopping their retirement contributions. Is this fear well founded or an over-reaction...
By Elmarie Samuel, Senior Technical Marketing Specialist at life insurer FMI (a Division of Bidvest Life Ltd) South Africa’s gig economy is booming. More people than ever before are earning a living as so-called ‘gig workers’ - working as...
There are many money mistakes we all make that prevent us from reaching our financial goals and we could all learn better money habits. However, there are specific money issues that relate directly to women. To chat to us about the key money...
By Elmien Pols, Private Client Trust In these interesting times in which we find ourselves, it is not unusual for people to live together, have children, buy properties and run a business together without formalising their relationship, either...
Whether you are saving for your child’s education or investing for their future, it's tough to know where and when to invest. When is a tax-free investment appropriate? Should you invest in your child’s name? And where should you save for those...
In the hope of assisting investors to make better sense of the current financial climate, Debra Slabber, Business Development Manager of Morningstar Investment Management South Africa, explains some of the financial jargon that is often used during market downturns....
We've seen many financial institutions offer their customers a debt payment holiday during these trying times. And while it may seem like a welcome relief, be careful because it might end up costing you a lot more than you realize. According to the Old Mutual Savings...
If you get COVID-19, will your income protection or life insurance cover you? And what can you do if you can’t pay your premiums because the pandemic has affected your income? These questions are top of mind right now as the lockdown affects millions of South...
Payment holidays offered during the three-month period from April to June 2020 will cost an additional R20.7 billion in debt for the estimated 1.6 million South African consumers who participated. This is according to calculations by DebtBusters, South Africa's...
If you are being retrenched or forced to take unpaid leave due to the lockdown, you may be able to claim from your credit insurance policy. Many people, especially those with short-term debt and even store cards, may have credit insurance without even being aware of...
A closer look at the histories of global giants Microsoft and Nestlé demonstrates the importance of investing in businesses rather than just stocks, and having patience. By Samantha Steyn, Chief Investment Officer, and Yanga Nozibele, Investment Associate, Cannon...
“As much as we like to believe it is all about hard-nosed number crunching, the stories investors tell themselves and others are key.” So says Izak Odendaal, Investment Strategist at Old Mutual Wealth. What are the stories we are currently telling ourselves about the...
Do you know whether you're covered if a power surge damages expensive electrical appliances? Identified by Google as South Africa’s most searched term in the past decade, loadshedding continues to cause a huge amount of frustration and inconvenience for many South...
I always maintain that actuaries never lie, and women on average pay less for car insurance than men, so is it true that women are better drivers? In light of Women's Month, I am speaking to Christelle Colman of Elite Wealth Assets Insurance to explain why women pay...
By Mica Townsend, Business Development Manager at 10X Investments Most pensioners who live off interest from savings have had their incomes dramatically reduced by the interest-rate cuts of the last few months, but this is not the only ‒ or even the worst ‒ risk they...