Nicky Campbell, consumer lawyer and author of the DIY Credit Repair toolkit says that harassment is common in the debt collection industry. Such harassment often leads to the consumer signing an acknowledgement of debt or making some sort of...
The cost of Wonga.com’s low-value, one-month loan
I was on my way to present at a conference about the lack of savings culture in South Africa when I first received a press release about Wonga.com. According to their release you could borrow money in six minutes. Six minutes to get a loan! This...
What a first time homeowner needs to know
Buying a home is a financial plan not an emotional impulse. You need to have a strategy in place before taking on the commitment of homeownership Jana and her husband Bertie want to take the big step and buy their first home. This is a serious...
Are you paying too much for funeral cover?
It is important to find a balance between insuring for the unexpected and paying off your debts. Make sure you are not overinsured at the expense of your savings The average government employee spends around eight percent of their salary on...
The top performing unit trusts
Coronation claimed the Raging Bull Award for the best domestic management company of 2012 after relinquishing the title in 2007. The award is based on the most consistent overall risk-adjusted performance of unit trust management companies across...
Valuing your retirement
We should value our retirement funds as much as we do our homes Last week I received an email from a reader who was falling behind in her debt repayments. Her only solution, she believed, was to resign from her job in order to access her pension...
Minister Gordhan has a fan page
Pointers for Pravin Not everyone is going to be a fan of Finance Minister Pravin Gordhan after he announces the budget on 27 February. This year will be a tight budget with less money to go around and undoubtedly higher taxes whether directly...
Middle-class money worries
More than half of middle-class South Africans believe they will never be financially free, according to the Visa Wealth Worries 2013 survey. “South Africa, and indeed the whole world, has gone through a very tough time over the last few years. We...
Who controls your money decisions
Modern day philosopher and writer Alain de Botton wrote a provocative article in The Wall Street Journal entitled Why most men aren’t man enough to handle web porn. While this title may seem completely irrelevant to personal finance (apart from the...
Estate agents see weakening in property market
The latest FNB Estate Agent Survey found that after a much improved 2012 compared to 2011, the final quarter of last year showed a weakening in demand for property, possibly as a result of a weakening economy. A survey of estate agents is a good...
Previous Articles
Step-by-step guide to repairing your credit history
The DIY Credit Repair Toolkit is a must have for anyone who wants to take control of their debts If you have taken on too much debt and are struggling to manage it; have had legal action against you or even if you are just thinking about taking on credit for the first...
A financial plan is all about focusing on income
As a young person studying while working on becoming an entrepreneur, Shaun needs some advice on how to juggle his finances. Focusing on income and avoiding debt are the golden rules of success. Shaun is 21 years old and is studying a BComm in accounting science at...
Procrastination: the thief of money
This article is an extract from the Liberty customer newsletter on why we procrastinate and the impact it has on our finances The beginning of the New Year always brings with it those inevitable New Year's resolutions, and if there is one New Year's resolution worth...
Seven golden rules to make your medical savings last
By August this year more than half of medical scheme members will have run out of day-to-day savings which means that doctor visits and medication would have to be paid for out of your own pocket. By managing your medical savings sensibly from the beginning of the...
US economy looking brighter
The following economic update by Stanlib economist Kevin Lings shows that the US appears to be turning the corner. This is good news for global growth but unfortunately South Africa remains well behind the curve; latest statistics on our economy are not as heartening....
2013 to be the year of the stock picker
Finding undervalued shares is going to be one of the most challenging aspects for investors to deal with in 2013, according to one local asset manager. Rob Spanjaard, Investment Director at Rezco Asset Management, says 2013 is likely to be characterized as a year for...
Ten ways to survive 2013
Keep a budget: As boring as it may seem, you have to know what you have and what you are spending. If you need extra discipline draw the cash you need for day to day expenses as per your budget and put it in an envelope. When that envelope is finished, there is no...
Investing strategies
When it comes to building wealth you need to have different strategies and these require different investment vehicles. These are your saving and investment strategies in order of importance: Pay off debt: There is no point paying a microlender 25% and earning 5% in a...
The cost of waiting to save
One of the more common questions that readers ask is “which fund should I invest in”. They often provide a list of funds and hope that some crystal gazing will allow them to select that fund which will outperform all others. However, your future wealth will be...
Fund managers top stock picks for 2013
Three leading fund management companies share their three top picks for the year Nedbank Private Wealth: Foschini : With 18 store brands in its portfolio, The Foschini Group (TFG) has most malls well covered: homeware, sporting goods, jewellery, and men’s and women’s...