All of our 2020 Money Makeover candidates were struggling with credit card debt. When your spending exceeds your income, it is easy to slip into the habit of using your credit card to make it to the end of the month. But unless you are paying it...
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Covid-19: Tax relief proposed by the President
By Graham Viljoen, Nina Keyser, Shirleen Ritchie, Yashika Govind, Lumen Moolman and Bianca de Klerk from Webber Wentzel The address by President Cyril Ramaphosa on Monday, 23 March 2020, set out certain fiscal relief measures to help small and...
Listen: Lockdown: Get your finances in order
The lockdown will affect people in different ways. There are those who will be fortunate enough to still be receiving a salary, others will see a cut in pay, while many business owners or self-employed people will be fighting to keep their heads...
What the crash means for your retirement
The market collapse highlights the need for good financial planning in retirement. The market collapse on the back of the coronavirus pandemic has created a buying opportunity for those who are still investing towards retirement, but it comes at a...
Beware of coronavirus scams
According to SABRIC, the South African Banking Risk Information Centre, there’s been a sharp rise in cases of cybercriminals exploiting the spread of COVID-19 by using coronavirus-based scams to trick people into clicking on links in emails or SMSs...
Video: Get your admin in order
Now is a great time to do your financial admin and put together a “life book”. An important part of knowing your net worth is having your admin in order. You need to have one place where you keep all those important documents rather than scratching...
Video: What does travel insurance cover?
This video was done when travel operator Thomas Cook collapsed last year, however it is just as relevant for holiday-makers facing COVID-19 cancellations. Travellers may not be aware of the limits around travel insurance which has exclusions...
Productivity 101 for those unaccustomed to working from home
Many employers are asking their teams to self-isolate and work from home right now, while entrepreneurs who would usually work from a shared space are now working from home instead. This is in order to reduce the risk of employees contracting the...
Listen: COVID-19 and your money
In this time of unprecedented events Maya (@mayaonmoney) and Mapalo (@womanandfinance) have put together a comprehensive strategy on how to manage your money in light of COVID-19: what to do with your investments, what to do if you are close to...
Time to consider a fixed deposit?
With a cut in interest rates likely, now may be the time to lock into a fixed deposit. Over the last two years interest paid by financial institutions relative to inflation was the highest since the end of the credit crisis in 2010. Last year, unit...
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Are you covered if you test positive for COVID-19?
By Jill Larkan, Head of Healthcare Consulting at wealth and financial advisory business, GTC People who contract COVID-19 (the new coronavirus) who are under the age of 80 and do not have any pre-existing conditions (such as cardiovascular disease, diabetes, chronic...
Money Makeover: Tell your money where to go
The first challenge for our 2020 Money Makeover contestants was to get a get a handle on where their money goes each month and to make some decisions about what they were prepared to live without in order to reach their personal goals. For all of them it was a shock...
Should you be playing the National Lottery?
With the National Lottery celebrating 20 years of existence this year, we question whether punters could’ve done something better with the money they gambled. This year a 35-year-old woman from Soweto became a multi-millionaire thanks to a gamble on the National...
Listen: Sort out that credit score now
The weekly My Money, My Lifestyle podcast recording is the latest victim of stage 4 loadshedding. As Maya (@mayaonmoney) and Mapalo (@womanandfinance) were unable to record their weekly podcast, we are re-running a previous episode on a theme which is always topical -...
How the coronavirus has impacted 2020’s investment outlook
By George Herman, Director and Chief Investment Officer, Citadel The coronavirus outbreak has rapidly approached global pandemic levels, and given the knock-on effects of the virus on economic growth, the fireworks in markets were inevitable. From sitting at record...
Video: How to exit debt review
You can apply for debt review if you are unable to meet your debt commitments. However, in some cases, your finances may improve and you may wish to exit debt review. Whether or not you are able to exit will be determined by where you are in the process. When you...
When to consider debt counselling
As salaries struggle to keep up with inflation, and the economy in general continues to deteriorate, many middle- and higher-income earners are now relying more heavily on unsecured loans to maintain their lifestyles. As a result, many more South Africans are now...
Listen: Money Makeover – the challenge begins
In the first of our monthly City Press/Absa Money Makeover podcasts, we chat to Absa financial adviser Steven Williamson about how he guided last year’s winner Samke to turn her finances around in just six months. We also hear from his candidate this year, newly-wed...
Debt levels rise as salaries fall short of inflation
Higher-income earners are tapping into unsecured loans to maintain their lifestyles as their salaries fail to keep up with inflation. Debt Counselling firm DebtBusters recently released their quarterly debt report for the last quarter of 2019, and the figures were...
The Money Makeover challenge begins
Each of our six City Press/Absa Money Makeover contestants has been allocated their own adviser and their tasks have been set. We have a diverse range of money challenges, from paying off debt, building a family legacy, and creating cashflow in a small business, to...