By Jenny Gordon, Head: Retail Legal at Alexander Forbes Expected changes to the income tax laws in March 2019 will allow people who emigrate before they reach retirement date more flexibility to withdraw their retirement funds when they leave the...
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Avoid debt by planning better
Have you ever wondered how much your debt is actually costing you? By the time you’ve included all the interest and fees payable, it’s probably a lot more than you realise. You will find that in most cases you can easily save enough to take care of...
Will there be a brighter outlook for 2019?
Prices always tend to go up when New Year strikes and there are a few things to be jittery about in 2019. But it’s not all negative. We’re always told about the doom and gloom when it comes to our finances, but what many forget to focus on is the...
Sticking to those financial resolutions in the New Year
On New Year’s eve, particularly after a few drinks, we make promises to ourselves that we have every intention of keeping. But time and again we fall short of sticking to these resolutions and just a few short weeks later, they’re forgotten. This...
Four mistakes to avoid when you’re in a car accident
By Sumarie Greybe, co-founder at short-term insurer Naked It’s the time of year for festive-season parties and holiday travel and, along with them, headlines and awareness campaigns about carnage on South Africa’s roads. The average driver in South...
As cost of living rises, so do informal loans
Annual survey confirms consumer stress but also highlights rise in funeral polices. The recent FinScope SA report, which analyses how consumers are using financial products and services, has revealed a concerning trend around credit extension. It...
Passive investing gets socially responsible
If you’re looking for a globally diversified, low-cost passive investment, why not be socially responsible at the same time and help save the planet? Old Mutual recently launched two new unit trust funds which should find traction among younger...
It’s all about taking control
In the last week I have been connecting with our Money Makeover contestants who have been on their money bootcamp for three months so far. What has struck me is how many contestants commented on how taking control of their financial lives is having...
Can an insurer refuse to pay out for non-disclosure?
Unpacking the recent controversy over Momentum’s refusal to pay a claim due to non-disclosure. Insurance group Momentum came under fire recently after it rejected a claim when a Durban man was shot and killed. The insurer rejected paying out R2.4...
Should you take out a building loan?
Mputla wrote to me with an interesting dilemma. He is 32 years old, married with two children. In 2016, he and his wife bought vacant land in a security estate with cash that they had saved for several years. The plan was to build within four...
Previous Articles
Understand your medical cover when ‘buying down’
With above-inflation price increases announced by medical schemes, many members may be looking for more cost-effective options when it comes to healthcare. But before making a change, ensure you understand what you are ‒and are not ‒ covered for. Every year our...
Understand your motor plan
Whether you buy a brand-new car or a relatively new used car, you will need to consider a motor plan, warranty and/or service plan. These can offer significant peace of mind, but issues can arise if you do not fully understand what is covered or if you have missed the...
What happens if you don’t pay maintenance?
Lots of parents in South Africa shirk their responsibility of paying maintenance for their children. But these days there are fewer places to hide and the law is on the side of the parent who does provide. Some recent court cases have shown that there’s no benefit to...
Robo-advice drives down investment costs
I recently came across the Nedgroup ‘robo-advice’ site, called Extraordinary Life. This new functionality from the Nedgroup investment house has not been widely advertised, and I suspect they are doing a ‘soft’ launch to test the channel first. The Extraordinary Life...
Play Budget Bingo this Christmas
'Tis the season for overindulgence ‒ and overspending ‒ so avoid the pitfalls of debt and credit shortfalls by calling 'BINGO' instead. Sanlam Personal Finance has created a Budget Bingo game which you can share with your friends and family and start a challenge to...
When your parents can no longer make financial decisions
A power of attorney is not valid if the person becomes mentally incapacitated. Something that we often don't think about when we consider our financial health, is the prospect of deteriorating mental health, specifically the onset of dementia. Dementia is caused by a...
SA equity market likely to struggle but bargains emerging
The South African overall equity market has shed more than 20% from its highs at the beginning of the year in dollar terms, a similar-sized drop to the 'Nenegate' slump of 2015. But Nkareng Mpobane, chief investment officer of long-only fund management at Ashburton...
Social capital will get you there faster than a car
Ten years from now, your social capital will be more valuable than the stuff you own or the car you drive. This week I had the opportunity to interview Martijn Aslander, a Netherlands-based thought leader and ‘life hacker’. He is part of a growing movement that...
How secure are new payment technologies?
The more convenient our payments, the more security conscious we need to be. I had the privilege recently of attending Mastercard's annual Connecting Tomorrow conference where future payment technologies are showcased to the financial industry. I witnessed some of the...
Car repair industry overhaul will benefit motorists
The Competition Commission has long frowned on the monopolistic motor service and parts industry. But with their new set of proposals that’s all set to change. Motorists are set to save money when proposals drafted by the Competition Commission (CC) are ironed out and...