A new debit order system will be made compulsory towards the end of the year, but will it make a difference in the fight against debit order fraud? Just last month, organised crime syndicates operating on a massive scale ‒ duping banking customers...
Most parents want to leave their children a legacy, but what if you could leave your children a secure retirement? A retirement that they never have to save a cent towards and that is completely tax free? According to Nic Andrew, executive head of...
Balloon payments are financial traps to entice you to buy a car you really cannot afford. Maya (@mayaonmoney) and Mapalo (@womanandfinance) explain the evils of balloon payments and offer some tips on how to settle that balloon payment hanging...
If anyone has made a purchase through online retailer Takealot recently, you would have noticed that you now have an option to finance the purchase through a loan. I don’t need to tell the readers of my website how I feel about this type of instant...
A bank may no longer unilaterally transfer funds from your bank account to settle your outstanding bank debts. Two years ago, we wrote about how a Standard Bank client had money deducted from his current account to settle his outstanding credit...
How much tax do you save by investing into an RA? What is the tax bill when you cash out? Why is it a bad idea to use your pension to settle your debts? If you’re thinking about cashing in your retirement fund or starting one, listen to Maya...
By Doné Howell, Director, Head of Individuals, Trusts and Estates, BDO South Africa On Monday, National Treasury released the draft bills for public comment, which once approved will serve to effect the legislative amendments announced as part of...
From buying groceries to building wealth, Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss the evolution of stokvels and the power of collective investing.
If you are self employed and working as a freelancer in the services industry, you may be debating whether you should work as a sole proprietor or register as a business. There are pros and cons for each, and the answer is not clear cut. I ran my...
By Michael Franze, managing director at Citiq Prepaid New electricity rates kicked in on 1 July, with municipal electricity tariffs increasing by around 13% to 16%. Understanding how electricity tariffs work is the first step towards taking charge...
Who should you select as an executor and what happens to your retirement funds when you die? Maya (@mayaonmoney) and Mapalo (@womanandfinance) unpack what you need to consider when writing up your will. Further reading: What should you include in your will?...
Retail investors in Naspers shares will have to decide whether to pay capital gains tax or take on more Naspers shares. While we will have to wait for the prospectus to confirm the details, Peter Armitage and Mike Gresty of Anchor, a JSE-listed wealth management...
As part of the launch for Savings Month in July, the South African Savings Institute asked South Africans to share the crazy ways they save. Here are some great ideas. Kgomotso uses the Standard Bank Stash app to save into a tax-free savings account. Stash is an app...
Does shopping around for competitive quotes really affect your credit score? Maya (@mayaonmoney) and Mapalo (@womanandfinance) unpack the myths and the facts around what affects your credit score and how you can improve it.
By Nicholas Hops, Coronation Equity Analyst It is perilously easy for investors to get caught up in the sentiment of the day and buy into ‘story stocks’. Not wanting to miss out on the next big thing, the market often drives up the price of favourably positioned...
When the Ombudsman for Short-Term Insurance (OSTI) released its annual report recently, it was unsurprising that complaints around motor vehicle insurance are the most common, at over 48%. Of these complaints, 18% of motor vehicle insurance disputes were resolved in...
When it comes to buying a house or car, a bank would consider both your affordability as well as your credit score. Your affordability will determine how much the bank will lend you, but your credit score determines your interest rate, or whether the bank will even...
The long-awaited amendment to the Government Employees Pension Law dealing with divorce debt has been signed into law. With very little fanfare, a very important piece of legislation was put into effect regarding the calculation of divorce benefits for members of the...
By having a blood test you can significantly reduce your life cover premium. So why are people so reluctant to do so? Maya Fisher-French (@mayaonmoney) and Mapalo Makhu (@womanandfinance) chat to Liberty expert Lisa Gibbon to understand what risk factors are...
About two weeks before reading Fake by Robert Kiyosaki, who also wrote Rich Dad, Poor Dad, I had sold my KrugerRands to pay for the installation of solar panels for my home and office. I had reason to question my decision as the first section of Kiyosaki’s book is...