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,...
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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...
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...
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...
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...
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...
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...
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...
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...
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...
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Insurance for the self-employed
The biggest risk for the self-employed is being unable to work due to illness or trauma. The growth in the so-called “gig economy” is one of the biggest labour trends globally. This is where individuals with a specific skill set leave mainstream employment to offer...
How much will it cost to educate your child offshore?
“If you want to send your child to the UK in 2019 for tertiary education, you will need around R2.5 million. If you have a young child, you will need upwards of R9 million by the time they are ready to go and you will need to start saving about R17 000 a month...
Remember to file your tax return by 31 October
A reminder that the tax season deadlines have been brought forward by a month this year so your efiling returns are due by 31 October – it’s Halloween! This is what you need to know If you earn above R350 000 a year you will need to submit a tax return. If you earn...
What is your financial freedom number?
I recently re-read human behaviour specialist Mavis Ureke’s book Managing Emotions for Financial Freedom which looks at the invisible forces driving your money habits. Having read the book before, I was initially just looking for her reference on the Financial Freedom...
How to protect yourself from loan scams
By Gareth Mountain, Head of Sales at Lending and Innovation Company Olico The current economic situation we’re experiencing in South Africa has created a strong appetite for credit. Often consumers need to borrow money out of desperation just to help them survive. It...
Cryptocurrencies and their revolutionary architecture
By Stéphane Monier, Chief Investment Officer, Lombard Odier Private Bank Investment experts have often sceptically dismissed cryptocurrencies as excessively volatile. Technologists have described them as revolutionary. Who is correct? Will cryptocurrencies become a...
The best place for your emergency fund
Every financial plan should start with an emergency fund. Even if you have debt, before you start focusing on accelerating those repayments, you need to first build up an emergency fund. An emergency fund is what will stop you going back into debt. Ideally you should...
Provisional tax rules in for a shake-up
The current draft Tax Administration Laws Amendment Bill, 2018, contains a number of changes to the administrative processes required of SARS and taxpayers. While there are certain proposals that have garnered quite a lot of attention, there are some small, but...
Are we managing our money better?
South African households appear to have a better handle on debt levels, but this could be at the expense of savings, especially for emergencies. Despite headlines about the deteriorating state of consumer finances, the latest Old Mutual Savings and Investment Monitor...
You either sleep well or you eat well
By Sherwin Govender, Business Development Manager at Glacier by Sanlam It's perfectly natural for clients to feel nervous about their investments, given the low-return environment over the past few years, and even more so when the client is nearing retirement. It...