With the National Lottery celebrating 20 years of existence this year, we question whether punters could’ve done something better with the money they gambled. This year a 35-year-old woman from Soweto became a multi-millionaire thanks to a gamble...
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Listen: Sort out that credit score now
The weekly My Money, My Lifestyle podcast recording is the latest victim of stage 4 loadshedding. As Maya (@mayaonmoney) and Mapalo (@womanandfinance) were unable to record their weekly podcast, we are re-running a previous episode on a theme which...
How the coronavirus has impacted 2020’s investment outlook
By George Herman, Director and Chief Investment Officer, Citadel The coronavirus outbreak has rapidly approached global pandemic levels, and given the knock-on effects of the virus on economic growth, the fireworks in markets were inevitable. From...
Video: How to exit debt review
You can apply for debt review if you are unable to meet your debt commitments. However, in some cases, your finances may improve and you may wish to exit debt review. Whether or not you are able to exit will be determined by where you are in the...
Listen: Money Makeover – the challenge begins
In the first of our monthly City Press/Absa Money Makeover podcasts, we chat to Absa financial adviser Steven Williamson about how he guided last year’s winner Samke to turn her finances around in just six months. We also hear from his candidate...
The Money Makeover challenge begins
Each of our six City Press/Absa Money Makeover contestants has been allocated their own adviser and their tasks have been set. We have a diverse range of money challenges, from paying off debt, building a family legacy, and creating cashflow in a...
New laws for expats
By Carla Rossouw, tax lead, Allan Gray The laws around tax for South Africans who live and work abroad have changed and it's important to work out whether or not you are now expected to pay tax on income you earn outside of the country. As of 1...
Listen: Highlights and lowdowns from the 2020 Budget
Listen to the budget speech highlights and lowdowns with Maya (@mayaonmoney) and Mapalo (@womanandfinance) – what it means to the ordinary South African as well as the risks building towards a possible downgrade. Maya also chats to Sharon...
Taxpayers off the hook… for now
To say this 2020 Budget Review was a shift in policy would be no exaggeration. After years of tax hikes ‒from increases in personal income tax, higher taxes on investments and a hike in VAT ‒ Finance Minister Mboweni appeared to say “enough is...
Q&A: Retirement
Do I have to purchase an annuity at retirement? When I reach retirement age, must I invest my provident fund in an annuity, or can I just build a unit trust portfolio with an asset manager and draw a yearly “salary” of not more than 4%? Will there...
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Listen: Buying a car? Here’s what you need to know
While her current car has been a reliable mode of transport, Mapalo faces the reality that after eight years, it is time to buy a new one. What car should she consider? How does she work out her affordability and should she put down all her savings as a deposit? Maya...
Video: Use your tax deductions before 29 Feb
As this is a leap year, 29 February marks the end of the financial year. All information up to this date will be included in your 2019/2020 tax return. This includes all tax deductions. Top-up your retirement fund You can invest up to 27.5% of your income, tax free,...
Where are the 2019 #MoneyMakeover candidates?
Next week we launch our 2020 City Press/Absa Money Makeover competition as we take six new contestants through a money boot camp. They have a hard act to follow as last year our five finalists exceeded all expectations. During the six-month Money Makeover competition...
Act now to avoid another ‘Janu-worry’ in 2021
By Rebekah Funk Sjoe, you made it through Janu-worry 2020. Well done. After exhaling that deep sigh of relief, get ready to follow these five time-tested money tips from the experts to ensure you can save more and spend better come the December holidays 2020. 1. Save...
Listen: Drowning in debt? You are not alone
The debt statistics, especially for higher-income earners, are alarming. Figures released as part of National Debt Awareness month show that, on average, higher-income earners have increased their debt by 50% since 2014. In this podcast Maya (@mayaonmoney) and Mapalo...
20 Investment tips for 2020
By Preston Narainsamy, Investment Professional at Marriott Asset Management 1. Establish your financial goals. This will enable you to put together an effective investment plan with an appropriate long-term allocation to stocks, bonds and other asset classes. 2. Start...
Video: Maximise your tax deductions before 29 Feb
The 29th of February marks the end of the financial year. All information up to this date will be included in your 2019/20 tax return, including all tax deductions. So, make sure you have taken advantage of all those tax perks before the end of the month. Top-up your...
Are you getting a good deal with Discovery Miles?
Last month, Discovery announced the introduction of a new e-currency in the form of Discovery Miles, for its ‘universe’ of banking, health and insurance products. Discovery claims that the new rewards system will give consumers more spending power than before because...
Listen: Tips to cut that insurance bill
One of the ways to find that extra cash to start saving is to review your fixed costs, like short-term insurance. In this episode Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss some of the new insurance players in the industry that are using technology to...
Investing in the time of coronavirus
By Izak Odendaal and Dave Mohr, Old Mutual Wealth The continued rapid spread of the Wuhan coronavirus – which goes by the technical name of 2019-nCov – is still dominating the headlines, and markets have predictably been under pressure over the past few weeks. This...