Don't fall into the trap of taking on unnecessary consumption debt in a misguided attempt to build up your credit record. Far too many 20- and 30-year-olds are struggling to meet monthly debt repayments, impacting their ability to break the...
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An easy investing platform
So you finally decide to venture into the world of shares and market movements, but where can you find a platform that is friendly for the beginner investor? Often eager investors give up when they are faced with a trading or investing platform...
It takes discipline to reach your goals
I recently required surgery to my ankle after sustaining a serious injury quite a while back. Thanks to this ongoing ankle saga, if I ever want to be able to hike and run again I am going to have to commit to some serious rehabilitation work which...
How much tax will I pay if I cash in my pension?
Willie writes: I am planning on leaving my employer after 25 years and I want to cash in my pension fund of R2.1 million. How much tax will I pay? I am 50 years old. Maya replies: When you resign and cash in your pension, the tax is worked out on a...
Have I got the right investment?
Makabongwe writes: I believe in investing for growth but I don't have sufficient knowledge about unit trusts. Currently I have invested in Allan Gray unit trusts via debit order. I am worried that I have not selected the correct funds, namely the...
Should credit cards have a health warning?
In this podcast we search for the truth behind credit cards – are they really a good thing to have in your wallet? We chat to Chris Labuschagne, CEO of FNB credit card and we asked him how many of their customers pay off their cards in full at the...
Retirement reform going ahead
By Vickie Lange, Institutional Best Practice Specialist at Alexander Forbes Last year the tax changes to all retirement funds and the retirement benefit changes to provident funds (together known as T-day changes) which were originally scheduled...
Saving for your child’s education
When you consider what it will cost to educate your child, it's easy to fall into a flat panic. Episode 11 of the Change in your Pocket series looks at ways to save for your child's education. https://www.youtube.com/watch?v=BI2-NFTx4gQ – Video...
The tax implications of investing for your children
Investing for your children is a generous act of foresight and certainly opens up future opportunities for them. However, you need to be aware of the tax implications of investing money on behalf of your children. This is the view of Carla Rossouw,...
How do I save for a deposit?
In Episode 10 of the Change in your Pocket series, we give you practical tips on how to go about saving for a deposit on your first home. https://youtu.be/mTmjtAoE-Tw – Video supplied by BrightRock Welcome to The Change Exchange where we are...
Previous Articles
A budget makes you spend less
My husband and I keep a household budget and have done so ever since 2004 when our finances went pear-shaped. It was only by creating a budget and learning to live within our means that we were able to survive when we hit financial Armageddon. Both of us had lost our...
How much tax will I pay on my investment?
Dihemo asks: I have R50 000 I want to invest but I want to understand how tax works on investments. Maya replies: Tax is an important part of investing. There are three taxes that are deducted when you invest. Income tax on interest Any interest earned on your...
Turning a 21st birthday into a legacy
Johanna writes: My daughter is turning 21 and she has asked that instead of organising a party for her she would love to invest the money for herself. What is the best investment to consider as currently we have unit trusts and a share account with FNB. We are looking...
Buying a home: understand your transaction costs
In episode 8 of the Change in your Pocket series, we continue the discussion around financing your own home by unpacking the transaction costs involved. https://www.youtube.com/watch?v=zqixEBSgOxA – Video supplied by BrightRock Welcome to The Change Exchange where we...
Should you cash in your pension to pay off debt?
I was recently asked by a young woman if it would make sense for her to cash in her pension, settle her debts and start all over again. It sounds like a good idea: on the one hand you have debt with interest as high as 25% per annum and on the other hand you have an...
Financing your home
In a volatile interest-rate environment, it's important to keep your mortgage repayments stable. Episode 7 of our Change in your Pocket series looks at the financing of your home. https://youtu.be/QVhtGI_Zhcw – Video supplied by BrightRock Welcome to The Change...
Should you fix your mortgage?
As interest rates increase, many homeowners are starting to feel the squeeze on their monthly mortgage repayments and are understandably wondering whether or not to fix their mortgage repayments to provide more certainty around what their repayments will be in the...
Emergency fund: your defence against financial slaughter
Debt is the only option if you don’t have an emergency fund. I have just had one of those months where I’m wondering which of my ancestors or gods I’ve offended. You know those months were anything and everything seems to go wrong and all of it involves spending money...
The true cost of debt
In this episode of Change in your Pocket, we expose the hidden costs that you incur when taking on debt. https://youtu.be/xo63SxHBCwU – Video supplied by BrightRock Welcome to The Change Exchange, where we are helping you find ways to make the most of out of your...
Saving for retirement
In Episode 5 of Change in your Pocket, we look at the various options available when it comes to saving money for your retirement. https://youtu.be/UIyKKLfYcyo – Video supplied by BrightRock Welcome to The Change Exchange, where we are helping you find ways to make...