The 29th of February marks the end of the financial year. All information up to this date will be included in your 2019/20 tax return, including all tax deductions. So, make sure you have taken advantage of all those tax perks before the end of the...
Last month, Discovery announced the introduction of a new e-currency in the form of Discovery Miles, for its ‘universe’ of banking, health and insurance products. Discovery claims that the new rewards system will give consumers more spending power...
One of the ways to find that extra cash to start saving is to review your fixed costs, like short-term insurance. In this episode Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss some of the new insurance players in the industry that are...
By Izak Odendaal and Dave Mohr, Old Mutual Wealth The continued rapid spread of the Wuhan coronavirus – which goes by the technical name of 2019-nCov – is still dominating the headlines, and markets have predictably been under pressure over the...
Were you one of the lucky taxpayers who received a tax refund from SARS after submitting your tax return? Take a moment to think about what you did with your tax refund last year, or the year before. Do you even remember? What should you be doing...
By using crowdfunding platform Feenix, students can fund their education without taking on debt, and funders can benefit from a tax deduction. Many black professionals carry the costs of educating the next generation. The upside of this commitment...
Want to invest, but don’t know where to start? Whether you have R500, R5 000 or R50 000 to invest, the principles remain the same. In this discussion, Maya (@mayaonmoney) and Mapalo (@womanandfinance) are joined by personal finance blogger...
An accountability partner will help you stay on track and overcome challenges. With every new year comes the sentiment that “this year, things will be different”. We get excited and dream big. We often set New Year’s resolutions to get out of debt,...
The National Credit Amendment Act (NCA) was signed into law in 2019. The Act included provisions for debt relief. This is not a way to avoid your debt obligations and you need to understand what it really means. This is a free debt review process...
Still using Excel or some other rather rudimentary means to keep track of the household budget? Ditch them now! It’s so easy to keep track of your finances and achieve your savings goals with these smartphone apps, websites and online financial...
This week, Maya (@mayaonmoney) and Mapalo (@womanandfinance) answer readers’ questions about retirement: when to take the cash and run or when to buy an annuity, how much you can draw of your capital and why good advice is worth paying for. They also give listener...
One of the greatest sources of wealth is getting your money to work harder than you do. This is achieved through the power of compounding. The problem with compounding is that it only works with time – there is no get-rich-quick scheme involved. While powerful, it...
A recent survey found that middle-class households are cutting back on insurance and medical cover as their budgets come under pressure. However, if you have a family, life insurance is essential to provide for them if something happens to you. If you are a married...
One of the things that really annoys me when I pay with my credit card, is the way I must often select to pay “straight” rather than “budget”. There are grocery stores that have budget payment as the first option – which is ludicrous. That said, there are times when...
In this first podcast edition for 2020, Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss their own strategies to grow their net worth and how to set SMART goals. They also share the apps and tools they use to manage their money.
A landmark ruling by the High Court has found against the excessive over-charging of debt collection fees on garnishee orders. The judgment will not only have a significant impact on the amount lawyers may charge for legal fees on outstanding debt, but could result in...
At the beginning of December there was some cautious optimism about the prospects for 2020. However, the commencement of load shedding and the realisation that Eskom’s problems are far more serious than we have been led to believe, changed sentiment significantly....
Funerals are big business in South Africa, with an estimated R10bn a year spent on funerals and related services. Insurance companies have found a lucrative product offering in funeral policies, with around 15 million such policies currently held in South Africa. A...
You may have noticed a new R5 coin in circulation celebrating 25 years of democracy. While it may be a fresh new design, it does not have any value as a collector’s item – despite what coin stores may tell you. Mr Pradeep Maharaj, Group Executive for Currency...
Balloon payments are a way for consumers to buy a car they cannot really afford, and the real cost is seldom understood. A balloon or residual payment is a portion of the selling price that is payable at the end of the agreement. A dealership may offer this option as...