I have received many reader queries about MMM and whether or not it is a safe investment. For example, Seraki writes: “My friends and colleagues are making a lot of money every month through this MMM, and I am tempted to join. I know that there are...
Max writes: I was called by a company who promised to send me a discount card that I can use for airtime, electricity and groceries. I asked for a written offer so that I could check their address and contact details. Soon afterwards an amount of...
By David Knott, a fiduciary expert at Private Client Trust Many people are unaware of the concept of “domicile” and few understand its implications. Domicile relates to the country where you have a permanent home, where you lay down your head each...
Xolani asks: I have had 20 shares in MTN Zakhele since their inception. I am in no hurry to cash them but would like to track their progress and maybe try to diversify my share portfolio by buying other shares with a portion thereof. My aim is to...
Rebecca writes: I am a 36-year-old professional and single mother of two. I had planned that this would be the year that I would buy my own modest home. I have been listening to financial experts on TV saying that first-time home buyers must delay...
Trusts may be one way to protect your assets from creditors but it is not something you should enter into lightly as the negatives could outweigh the benefits of protection. Mpho wrote to me to argue the point that a trust would have been able to...
Ridwan asks: I have been told that by splitting my monthly installment into two payments over the month, for example the 15th and the 30th of the month, I can save on interest as interest is calculated daily so the payment on the 15th reduces the...
Investing offshore is not about the rand or pessimism; it’s about sound financial planning. Most fund managers spent the last five years recommending that investors allocate a portion of their investment wealth offshore – yet it was only when the...
Andy writes: What information are banks able to buy from credit bureaus about my financial history and standing and what do they use it for? Credit bureau TransUnion replies: When someone applies for credit from a lender, such as a bank, the lender...
A recent study by Sanlam done amongst mothers with children aged between 3 and 15 shows that some parents go as far as holding down two jobs to put their children through private schooling, which they perceive to be the best legacy they can give...
By Bianca Stoffberg, audit manager at BDO South Africa Fraud is one of the greatest threats to businesses, with smaller business entities more prone to becoming victims of fraud, as they often lack the staff numbers to put clear task segregations in place. Warning...
Retrenchments are likely to become even more commonplace in the current economic environment as companies downsize and try to contain costs where possible. If you don’t have retrenchment insurance and need funds to tide you over until you are able to find another job,...
Katlego asks: To what extent does your credit record affect your chances of getting a job and can an employer run a credit check? If you have a bad credit record does this affect your prospects and does a good one increase your chances? Maya replies: According to the...
Nervous investors may be considering phasing-in their investments, but does it make sense? At the time of writing this article, the market was down around 15% from its high in April 2015, the rand continued to fall to the dollar at 35% weaker than a year ago and the...
Tebogo writes: I applied for a R200 000 loan from a company called Blue Financial Services. They told me the loan was approved and I had to pay a R200 administration fee, which I did. Then they sent me a lawyers letter requiring an amount of R3 750 for cost of...
By Andrew Flavell, Wealth Manager, AlphaWealth Rather than relying on dinner-time conversation and personal bias to determine your view on the Rand, AlphaWealth provides some analytical data that enables you to make a decision on the Rand or at least be able to...
By Hedley Lamarque, Certified Financial Planner at BDO Wealth Advisers If you have been planning on cashing in an investment (such as shares or unit trusts) in the short term, then it would be better to do it before the end of February 2016, due to changes in capital...
A quick summary of some of the major points from finance minister Pravin Gordhan's 2016 budget speech. Future tax No increases to personal income tax or VAT this year but Minister Gordhan is looking for R15bn in new taxes next year and another R15bn the following...
Whenever Statistics South Africa (StatsSA) releases the consumer price index (inflation) figure, I always wonder whose basket of goods they are using, because I can assure you that my living costs are increasing well above the 5.2% CPI recorded for the year to...
In the final episode of Change in your Pocket, we highlight the importance of dealing with various admin issues before you get married. https://www.youtube.com/watch?v=6attRo6UGUQ&feature=youtu.be – Video supplied by BrightRock Welcome to the Change Exchange, where...