By Wikus Olivier, debt expert at DebtSafe Debt is an issue that most South Africans unfortunately find themselves facing for most of their adult lives. Every individual deals with different forms and scales of debt, but for some, their debt spirals...
South Africa’s declining household savings rate has been of national concern for some time now – in fact this burning issue has found its way into the annual budget speech year after year. But while initiatives have been implemented to try...
After nearly 11 years of engaging with readers across many publications, I realised that while there are many books that cover the theory behind creating a financial plan and offer encouragement to do so, what was really needed was a money book...
We know if we want to lose weight we need to eat less and exercise more and we know that in order to grow wealth we must spend less and save more. So why then do we give in and buy the chocolate bar at the counter when we purchase our groceries, or...
While borrowing money is generally a bad idea, a student loan is an exception. For individuals who work hard, get their qualifications and manage their loan repayments, a student loan can lead to wealth creation. According to Advtech, within two...
In today's Internet age, keeping yourself on track financially has never been easier. There are a range of websites, smartphone apps and online financial tools to help you along the way. Track expenses and create a budget Find a way to track your...
Last week, consumers received good news from the South African Reserve Bank (SARB) that the repo interest rate would be kept at 5.75%, which means that the retail rate at which consumers are offered credit, would stay at 9.25%. Absa provided this...
The JSE continues to trade at record levels alongside a depressed South African economy. David Leslie, a director of Belmont Asset Management, explains the logic behind this apparent contradiction. It’s no secret that the South African economy is...
As much as people realise there is a need to ensure they have planned for their family's financial future after their passing, many do not understand the different aspects of estate planning and the negative impact that a lack of planning can have...
If you cashed your pension in to pay off your bond make sure you replace it over time. Sego writes: I have R100 000 from my pension fund which I cashed out last year. I am 30 years old and have a retirement annuity which I took out recently. Should...
Monday was the last day for the Maya on Money/ Multiply competition and congratulations go to our winner Afika Soyamban who will receive R2 500 in Dis-Chem vouchers. After completing the Momentum financial wellness assessment Afika committed to drawing up a will after...
Make sure your retirement is taken care of before you help out your adult children. Themba writes: I have just sold my home for just over R 1 000 000 and would like advice on how to invest the money in a responsible way. In December this year I will also be receiving...
By Ferdi Booysen, Head of Strategic Relationships at Old Mutual Wealth The higher interest-rate cycle begs the question: is it currently better to use your investable funds to pay off your mortgage or to add to your retirement savings? Recent interest-rate hikes – and...
Find out your Financial Wellness score and stand a chance to win a R2 500 Dis-Chem voucher with Momentum Multiply. Momentum Multiply’s Financial Wellness programme is one of the more impressive online financial planning tools I have come across in South Africa at the...
When it comes to passive income most people think of property, yet a share portfolio can also be used to generate an income – one that is well diversified, tax efficient and does not require any tenant management. When it comes to investing in shares most people focus...
Our parents’ experiences can teach us a great deal about how we should be making plans for our own futures. My mother, who is now 75 years old and relies on a pension, has seen her food bill increase from R500 per month to R1 200 in just six years – that is a 140%...
By Kagisho Mahura, investment and retirement planning specialist at Gradidge-Mahura Investments. I had a discussion with a client a few months ago that has sensitised me to the power dynamics that exists between financial advisers and clients. The client was a senior...
A person under the age of 35 is more likely to claim for income protection or disability than death. While life cover may not be a priority, protecting your future income should be. When Greg, aged 35, was rushed to hospital after a virus attacked his heart, it gave...
By David Knott of Private Client Trust, the fiduciary services division of Private Client Holdings, and a member of the Fiduciary Institute of South Africa. When it comes to leaving fixed property to someone in your will, unless you have had professional assistance in...
Considering that almost three marriages end in divorce in South Africa, and research indicates that women are the hardest hit financially after divorce, finding your financial feet after this devastating event can be one of your lifelines. According to Financial...