In the final My Money, My Lifestyle podcast for 2019 Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss how to prepare your finances for an uncertain future. Should you use your bonus to pay off debt or rather invest it? Do you have enough...
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Find medical cover that fits your pocket and your needs
It is that time of year when you will receive a letter from your medical scheme confirming your benefits and premiums for next year. This year the average scheme increases were between 8% and 12%. According to Alexander Forbes Health, these price...
Video: How to reach R1 million in 5 years
Last year we had a Money Matters show where we illustrated how you could save R1.1 million within 15 years using your tax-free savings allowance of R2 750 per month. A viewer asked us if it was possible to reach R1.1 million within five years by...
OBS advises to check your loan statements
Incorrect balances and terms on home loans, personal loans and revolving credit make up a significant portion of complaints to the Ombudsman for Banking Services (OBS), according to its latest report. Of the 5 996 cases it has closed so far this...
Listen: Building a retirement portfolio
The last four years of poor market performance highlighted the risk of relying on capital drawdown in retirement. In this final edition of our Investment Series with Marriott Income Specialists, Maya (@mayaonmoney) and Mapalo (@womanandfinance)...
Are illegal debit orders a thing of the past?
After a significant spike in the number of illegal debit orders, banks say action has been taken to clean the industry of rouge players. Despite much fanfare around the introduction of DebiCheck which puts customers in control of approving debit...
Video: Where to invest?
Money Matters viewer Khutang wanted to know whether it is safe to invest in Bitcoin and more generally, where a wannabe investor should be investing. As Khutang is specifically talking about investing, this would not be your emergency funds or...
Why the net worth calculation trumps how much you make
One of my favourite calculations is the net worth calculation. It is not only meant for those who appear in rich lists of magazines, but is an important calculation for anyone who is working towards financial freedom. Effectively, the net worth...
Listen: Why offshore investing is wise
A decision to invest offshore should not be driven by fear but should rather form part of a diversified investment portfolio for the best risk-adjusted return. In this episode of My Money, My Lifestyle, Maya (@mayaonmoney) and Mapalo...
Using a personal loan to pay off your home
“I have been paying extra into my mortgage each month but it still taking a long time to pay if off”, says Martha, a reader who wonders if it would make sense to rather take out a personal loan over five years and use the money to settle her...
Previous Articles
Video: Understanding credit insurance
If you have taken out credit, you mostly likely have a credit life policy linked to that loan for which you are paying a monthly fee. While it has many names such as credit life, credit protection insurance or payment protection insurance, it is essentially an...
Court application could remove a million garnishee orders
One million garnishee orders could be removed if excessive fees and interest paid on judgement debt is curbed. Once a judgement has been granted against a consumer, the cost of that debt can escalate rapidly. In a real-life example, a judgment was brought against an...
Listen: Why women make great money managers
Maya and Mapalo discuss how women tend to approach money and finances and why this can be either a positive or hold them back from taking necessary risk. Sean Sanders and Louis Buys from crypto platform Revix join the discussion sharing their experiences, not only on...
How to hit the jackpot on Black Friday
By Lee Naik, CEO TransUnion Africa Some people love it. Some people hate it. But whatever your feelings about Black Friday, the one thing you can’t do is ignore it. South African retailers and consumers alike have embraced America’s favourite shopping day in all its...
Video: Money is not gender equal
Money is not gender equal. The facts remain that women earn less than men and carry the greatest load in raising children whilst balancing work and family. On average, women live seven years longer than men, so we need to save more for retirement. If a man is saving...
Q&A: Debt Review
A recent court ruling provided clarity around exactly how and when an individual may exit debt review, but there is still a lot of confusion around the debt review process. I have recently paid off my car and some credit I had, but I still have four outstanding debts...
Listen: Why investing “for good” will deliver better returns
Is it possible to invest in socially responsible businesses and make a return on your investment? In this podcast, Maya (@mayaonmoney) and Mapalo (@womanandfinance) chat to Duggan Matthews and Lourens Coetzee from Marriott Income Specialists, who argue that in fact,...
Where to invest for my child’s education?
A reader wants to invest R1 000 per month for a period of 15 years towards her child’s education and wonders what the best option would be. The key is to make sure that the underlying investment meets your timeframe. If you are only putting money away for the next two...
Video: Loan scams on the rise
There has been an increase in loan scams as people become financially desperate and see a cheap loan as a way out of a financial crisis. My inbox is flooded each day with companies claiming to offer really cheap loans. Many of these emails are using names of...
Expats: prepare yourselves
By Jean du Toit and Jonty Leon, technical editors of the publication ‘Expatriate Tax - South African Citizens Working Abroad and Foreigners in South Africa’. As many South African expats are now aware, as of 1 March 2020, the amendment to section 10(1)(o)(ii) of the...