Financial and strategic advisory company Fluence Capital is now offering pro-bono support and guidance for South Africans facing the potential loss of their business due to the COVID-19 shutdown. “Many companies tend to wait until the last minute...
This Mother’s Day I will have been a mom for 20 years, as my son celebrates his 20th birthday this week. Being under lockdown and living through COVID-19 has been a huge teaching and learning opportunity when it comes to raising our children to...
Home loans are usually the cheapest form of financing and it may seem like common sense to use this lower interest rate to pay for shorter-term debt like car finance. In theory you save money by paying a lower interest rate, however, most people...
Financial markets are no place for gambling on a single share or even a single asset class, says Tlotliso Phakisi, Investment Analyst at Cannon Asset Managers. One of the most famous poker games ever recorded took place at the 2008 World Series of...
Regardless of how motivated you are to improve your finances, you will struggle to make progress unless your partner is also on board. In our third City Press/ABSA Money Makeover podcast, Maya (@mayaonmoney) and Mapalo (@womanandfinance) talk...
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...
For our Absa/City Press Money Makeover candidates, the COVID-19 lockdown has been an unexpected obstacle on their journey to financial freedom. While Mishack has lost out on overtime pay, Colen is worried about his investment properties and...
If you have been paying extra into your home loan and have settled it before the required date, you need to decide whether you wish to keep the mortgage bond in place. The home loan is the credit facility that the bank grants, while the mortgage...
When you use your credit card for transactions, you qualify for chargeback rights if merchants don't deliver goods and services. Cowyk Fox from Absa Retail and Business Bank explains: “In essence, a chargeback prevents customers from suffering...
As a result of the unexpected 100bps cut in interest rates, we received many questions about interest rates, and the impact the rate cut has on both borrowers and savers. Maya (@mayaonmoney) and Mapalo (@womanandfinance) unpack how interest rates...
While investors watch their investment values collapse, some see this as an opportunity. Around the world the value of stock markets has fallen by at least 25%, which means markets are now offering better value than they have in years. Locally South African bonds are...
The beginning of the year is a great time to review your net worth. This is a list of your assets vs your liabilities – or put another way how much you own vs how much you owe. This is a personal balance sheet and provides a good measure of your financial health each...
Taking a payment holiday should only be done if you really have no way to meet your monthly debt payment. It adds to the cost of your loan and can add significantly to the period of your home loan, especially if you recently bought your property. For example, if you...
At the end of March, amid the chaos of the lockdown, the rating agency Moody’s downgraded South African sovereign debt to non-investment grade – or junk status. As the last rating agency to do so, it means that South African government bonds will no longer be included...
Whilst you are sitting in lockdown, now may be the time to turn that WhatsApp group into an investment club. Maya (@mayaonmoney) and Mapalo (@womanandfinance) chat to Palesa Lengolo, financial educator and author of Stokvels: How they can make your money work for...
Credit life insurance is poorly understood in South Africa. This is ironic, because it’s one of the best risk-management tools available to the consumer – especially in challenging economic times. From COVID-19 to junk status, few would argue that 2020 qualifies as...
The outbreak of COVID-19 and the lockdown will have far-reaching consequences for many households. Even before this crisis, people found it hard to make ends meet as salaries failed to keep up with the cost of living. This leads to the slippery slope of credit...
A will is a very important document as it makes sure your wishes are carried out and protects your children when you no longer can. However, there are circumstances where your wishes can be superseded. Your retirement funds do not fall under your will. While you can...
There are various financial relief options available for small businesses, from tax relief to soft loans and even grants for sole proprietors. SME tax relief PAYE: Tax-complaint small- to medium-sized business with turnover less than R50 million can defer payment of...
Over the last few weeks our discussions have focused on keeping our heads above water during the coronavirus meltdown. We now turn our attention to investing. With markets down significantly, is this the time to start testing the waters? In this podcast Craig...