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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
Many households are already seeing the impact of rising interest rates on their budgets. With interest rates increasing 100 basis points over the last three years, the prime lending interest rate has risen from 8.5% to 9.5% since 2012. To put that into perspective,...
Episode 4 of the Change In your Pocket series deals with protecting your biggest asset: your future income. https://www.youtube.com/watch?v=aQHqXXrhaoc – Video supplied by BrightRock Welcome to The Change Exchange, where we are helping you find ways to make the most...
A pension fund is usually the largest asset owned by an individual and it makes sense that it could be used to provide collateral for a home loan, especially for a first-time home owner. This benefit also encourages individuals not to cash in their retirement funds...
Watch Episode 3 of the Change In your Pocket series for advice on setting up an emergency fund. https://youtu.be/zreJg6744II – Video supplied by BrightRock Welcome to The Change Exchange, where we're helping you find ways to make the most of out of your paycheque. The...
Albert Theyse, Head of Sales at O’Keeffe & Swartz explains that life insurance covers the important long-term needs for your family in the future when you are no longer around to provide ongoing financial security. Funeral cover provides the peace of mind of...
Watch Episode 2 of the Change In your Pocket series for tips on how to draw up a budget. https://youtu.be/x8yK7_RgzyU - Video supplied by BrightRock So you’ve just landed the job of your dreams along with that salary bump that’s going to solve all your money problems....
There are several common mistakes around trusts, particularly when a trust has been set up for estate-planning purposes, to protect assets from creditors and for potential tax savings, writes Sumesh Somaroo, audit and assurance partner at BDO Durban. Trusts are...
By Carl Roothman, Head of Retail Business at Sanlam Investments We are well aware that an adviser’s job is never done. No matter how thoroughly you explained to your clients what to expect from the equity market, when markets suddenly fall and alarmed investors start...
So you’ve just got your first pay cheque and the temptation to go and blow the whole lot on a new wardrobe or a deposit on the car of your dreams will be huge. But you know that you also have to pay those boring expenses like rent, food and petrol. So how should you...
If you have a will, you’ll have the last word on what should happen to the fruits of all your hard work when you are gone, right? Not quite, says Sanlam Trust legal adviser, Clive Hill. Wills have split up families, turned siblings into prime enemies and wasted...