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....
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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...
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...
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...
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...
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....
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...
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...
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...
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...
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SARS ups tax collection through payroll audits
By Jean du Toit, attorney at Tax Consulting SA Despite the promising initiatives implemented under the South African Revenue Service's (SARS) acting Commissioner Mark Kingon, its tribulations in meeting its collection targets have not yet waned, with payroll audits...
When poor health saves you money
If you have been diagnosed with breast cancer, you may qualify for a higher income in retirement. When it comes to taking out life insurance, underwriting for the cover usually means that a prior illness results in a higher premium. However, when it comes to...
Should you use a financial price comparison website?
Shopping online is a perfectly acceptable way of getting what you want. But should you be doing that for your financial and risk products? Financial price comparison websites have changed the way in which consumers evaluate, apply for and consume financial products....
What the Debt Relief Bill means to consumers
Beware the false hope behind debt relief headlines The National Credit Amendment Bill, which includes details around debt relief, was recently approved by the National Assembly, but it still has a while to go before it becomes law. The so-called “Debt Relief” Bill...
Finding balance in a world of extremes
By Francis Marais, senior research and investment analyst at Glacier by Sanlam We as South Africans sometimes tend to be overly pessimistic or anxious. In fact, according to the latest 2017 perception index as compiled by Ipsos, South Africans ranked highest in terms...
There is no excuse not to be insured
With third-party insurance available for only R38 per month, not being insured could be the most expensive decision you ever make. A reader wrote recently to complain that a driver had stopped in front of him unexpectedly, causing him to crash into the back of her. As...
When your emergency is not paid by your medical scheme
Don’t rush off to the emergency room too quickly – it may cost you more than you realise. A recent twitter rant by a Discovery Health Medical Scheme member highlighted an often-misunderstood fact about hospital plans: they don’t cover visits to the emergency or...
A financial survival guide to divorce
Facing the breakdown of your marriage can be extremely painful emotionally, but with the right knowledge and planning, it needn’t be financially devastating as well, says Citadel Advisory Partner Kirsten Smit. “Getting divorced carries enormous financial implications,...
New car insurance player could reduce your premiums
New short-term insurer Naked challenges the insurance status quo. When it comes to car insurance, ideally you want to be fully insured so that your own car is covered in an accident or theft, but that doesn’t mean you have to pay the highest premium in the market. Car...
Important principles to remember when markets get scary
South African investors are nervous ‒ and for good reason. With a sluggish economy and a weak rand, worries over uncertain land expropriation policies and fears that the often market-leading US stocks are set for a correction, many people are wondering if they should...