Insiders raise the alarm over the business practices of AllQuotes and BuyDirect. When one receives anonymous tip-offs about unethical business practices, there is always the concern that the information is accurate and not just a disgruntled...
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Should you lease or buy a car?
South Africans are well known for treating their cars as status symbols. Car finance figures show that on average, South Africans who are financing their cars tend to buy a new car every three years. Simphiwe Nghona, executive head of Wesbank’s...
What your retirement fund value really means
It’s about the income, not the lump sum. I recently received an email from a reader who had taken early retirement and was concerned that the value of his final pension benefit was significantly lower than the amount indicated in his benefit...
Offshore bank accounts: not just for the rich and famous
You don’t have to be a high flier to have a foreign currency account or even an offshore bank account which have now become an easily available and relatively affordable option for South Africans who would like to hold some funds offshore. As...
How to stretch your salary
Times are tough and even though the inflation rate might be slowing down, prices are still going up. This means your cost of living is only going to increase as the months go by. According to the latest BankservAfrica Disposable Salary (BDSI) data,...
Why your coffee costs you more
Remember the days when you went to buy a coffee and the cup only came in one size? Now most coffee-shop chains offer you a choice of small, medium and large. This is not because research has found that people have very different consumption needs,...
Could advances in medical technology make risk cover unaffordable?
Last week I attended the Momentum Risk Summit and one of the things that struck me was the extent to which medical technology will be able to predict our future health outcomes. We know that if we have an existing illness such as diabetes, we will...
The real reason you won’t have enough money at retirement
Steven Nathan, CEO of low-cost investment company 10X Investments highlights the three biggest investment anomalies and how to avoid them. When asked why the majority of South Africans fail to reach their retirement goal, most industry players will...
Are your adult children sabotaging your retirement?
By Mark MacSymon, Certified Financial Planner and Wealth Manager at Private Client Holdings An increasingly common issue in South Africa these days is adult children still being financially dependent on their parents. This is due to low entry-level...
Why pyramid and Ponzi schemes are doomed to fail
By Mike McDougall, CEO of the Actuarial Society of South Africa Faced with empty wallets and rising costs, thousands of South Africans are placing their faith in ‘get rich quick’ schemes that lure desperate consumers with promises of unrealistic...
Previous Articles
Red flags and flagging economies mean time to spread investment risks
The winds of change – from the growth in anti-establishment movements to ageing populations – are causing red flags to flutter and require investors to diversify their approach, according to former head of the Anglo American Chairman’s Fund and renowned scenario...
Investment decisions shouldn’t be about external factors
By Craig Gradidge, CEO of Gradidge Mahura Investments The conversation over the first five months of the year was dominated by the prospect of a ratings downgrade by S&P at the beginning of June. For many the downgrade was a forgone conclusion, and they wanted to...
The overpromise of gold medallions
Lizo bought two Robben Island commemorative gold coins in 2011, after being advised that they would be a good investment. He bought the two 1/10oz gold coins for R5 000 each from The South African Scoin Shop at Clearwater Mall in Roodeport. “I was informed that I...
Understand your medical scheme’s co-payment rules
In order to provide lower-cost medical cover, most medical schemes offer plan options where co-payments apply for certain procedures. These procedures tend to be elective surgeries such as a colonoscopy or joint replacement and are clearly defined in the medical...
Do flexible funds offer a real solution to risk management?
The buy-and-hold investment philosophy, upon which Warren Buffet built his fortunes, maintains that the key to successful investing is to identify a good, quality company, buy it at a reasonable price and then hold it over time irrespective of short-term market...
Your phone makes you vulnerable
By Jacky Fick, head of Cell C’s Forensic Services Every few months, concerns are raised around online scams and theft as a new wave of victims come forward. It can leave one feeling very vulnerable and uncertain. But a little knowledge goes a long way in this fight....
Higher interest rates are good for savers
The focus around higher interest rates has mostly been the effect it will have on our debt repayments, but what we forget is that higher rates are really good for savers who, for a long period of time, have received less and less interest on their cash deposits. Since...
How to get a home loan: tips for freelancers and the self-employed
Applying for a home loan is stressful for most people, but this simple financial process can become disproportionately complex for entrepreneurs or freelancers ‒ people who have uncertain or unpredictable income flows. The rigorous affordability assessments required...
Pay off your mortgage or invest?
Should you throw all your spare cash into paying off your mortgage before even thinking about investing? As most mortgage repayments are set over a 20-year period, we looked at three possible scenarios in terms of accelerating mortgage repayments and investing in...
How emotional debt leads to financial debt
By Mavis Ureke, human behaviour specialist We make all our money decisions based on how we feel, so if your dominant emotions are negative, you are unlikely to make healthy financial decisions. When we talk about managing money ‒ financial planning, choosing financial...