By Darren Britz, Admitted Attorney, and Laurence Mbokwane, Tax Consultant, at Tax Consulting SA Many South Africans who had to start working from home due to the national coronavirus lockdown imposed on businesses will not yet be able to claim home...
Is money really gender neutral? Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss why women face more financial challenges and how important it is for women to take control of their financial destiny. Click here for more posts on this topic.
The WhatsApp stokvel scheme that has been around for a while has now morphed into a “WhatsApp gifting circle”, but it is the same get-rich-quick scam, just under a different label – and just as dangerous and illegal. People are recruited to join a...
This year has been undoubtedly the most challenging for contestants as they grappled with fallout of COVID-19 and the lockdown. Four of our contestants experienced a drop in household income, yet they still managed to meet all their goals set out...
66% of people surveyed for the Old Mutual Savings and Investment Monitor said they feared losing their job. It is important to understand what benefits you have if you are retrenched. Accepting a voluntary retrenchment package provides the same...
Financial stress has soared as a result of the Covid-19 crisis, with savings dropping and debt levels rising. 58% of households across South Africa are facing high or overwhelming financial stress, according to the latest Old Mutual Savings &...
In the final episode of our Money Makeover Challenge podcast, Maya (@mayaonmoney) and Mapalo (@womanandfinance) chat to the two winners Catherien and Nono about their journey and how they turned their finances around. In just six months these women...
Lockdown and the economic fallout will affect different people in different ways. Some are fortunate enough to still be receiving a salary but according to the recent Old Mutual Savings and Investment monitor, over 50% have experienced a pay cut....
Cyber criminals are taking advantage of the anxiety around lockdown. Manie van Schalkwyk, Executive Director of the Southern African Fraud Prevention Service (SAFPS) provides some insight into what scams to watch out for. The world is currently a...
In previous podcasts we have discussed the concept of net worth and how to use it to assess your financial progress (take a listen to "Grow your net worth in 2020" and "Do you know your net worth?"). In this podcast, Maya (@mayaonmoney) and Mapalo...
If you accidently pay into the wrong account, there is no guarantee you will receive your money back. I recently received two complaints from readers who had accidently paid money into the wrong account, highlighting the risk of electronic fund transfers (EFT) and how...
“Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.” – Earl Nightingale The true motivation behind financial freedom is to have the money to live our dreams – we just need a plan to get us there. While our...
If you have taken a debt payment holiday, make sure you catch it up. I have previously warned readers against taking the three-month payment holiday offered by the banks unless you had no option. This is because the interest is capitalized and like most holidays, it...
One of the main reasons we have a credit crisis in South Africa is that we never plan and save towards our goals, because it’s just easier to borrow. Change your dependency on credit by planning for those money moments and start saving for your short-term goals in a...
By Jashwin Baijoo, Tax Attorney at Tax Consulting South Africa Everybody knows SARS is under collection pressure and they have grown rather fond of appointing third parties, such as banks, to recover outstanding tax debts directly, which leaves taxpayers stunned....
Credit bureau Experian has released figures confirming that South Africans are in deep financial trouble. The number of credit active South Africans who have missed a debt repayment for the first time ever is at a record high. This is based on the Experian Consumer...
In this podcast Maya (@mayaonmoney) and Mapalo (@womanandfinance) each discuss an event in their week that made them reflect on the way we engage with money. A negative experience with the way financial products are sold makes Mapalo question whether people are...
Have you been shocked at the rapid price increase of some of your regular food purchases? City Press/Absa Money Makeover candidate Peter has been keeping a close eye on his grocery bills and has seen certain items increase, such as tinned tuna, cheese, Bakers Toppers...
Our Money Makeover candidates are all parents, so estate planning is a particularly important part of their financial plan. Read this article to get tips on what to look for when drawing up your will and making sure you have tax-effective estate planning. Follow the...
We’ve had significant cuts in the interest rate this year. On 1 January 2020, the prime interest rate was 10%, and as of 22 May, it had been reduced to 7.25%. The current repo rate of 3.75% is the lowest it's been for almost 47 years. So it's not surprising that many...