Using your child’s tax-free savings account is not necessarily the best vehicle for their education fund. Since the launch of the tax-free savings accounts (TFSAs) there have been suggestions that this would be an ideal way to save for your child’s...
People often argue that the reason they don’t have any savings, or why they cannot pay off their debts, is because they simply don’t have enough money. Yet little do we realise how much our bad habits are really costing us. The real cost of smoking...
By Tanya Lochner, fiduciary specialist at Glacier by Sanlam In the foreseeable future retirement annuities will no longer fall outside of your estate for estate duty purposes, so bear that in mind when you do your estate planning. Since 2007, a...
By John Loos, Household and Property Sector Strategist at First National Bank The 5% FNB House Price Index inflation rate suggests no apparent need for “first-time buyer panic” at present. But there is a need for first-time buyer caution, and...
You’ve finally graduated and landed yourself a job, and you’re loving the flexibility that comes with earning your own money. But before you know it, the money has run out and you’ve been hit with a whopping amount of bank fees. We took a look at...
If you haven’t specifically taken out cover for power surges you will receive a nasty shock when your electronic goods are fried during load shedding, as one of my readers discovered. “I have faced a huge financial setback with my gate motor, alarm...
Debt is the main reason people withdraw their retirement benefits when changing jobs, according to key findings of the 2015 Sanlam Benchmark Survey, a comprehensive annual review of South Africa’s retirement industry. After interviewing thousands...
It was only when Patricia received a call from Wonga’s head of communications that she realised she had been the unwitting victim of a phising scam that has so far conned over 200 people into parting with their money. Two weeks ago Patricia...
For most people, cost is a primary consideration in almost every purchase decision. Except, it seems, when it comes to critical financial decisions, such as buying a savings or investment product. Many South African retirement investors therefore...
If you can no longer afford your car, it's time to take action. Here are your options. Lucky wrote to me to find out whether or not he should sell his BMW for a loss as the cost of the car is having serious consequences on his other financial...
The inefficient structure of existing life insurance products impact value and sustainability of cover for clients. BrightRock’s needs-matched life insurance addresses these shortcomings by pricing cover correctly for the term and trajectory required. Since its launch...
Cellphones have become an indispensable part of our lives. Unfortunately, those cellphone bills can become all too costly, all too quickly. Here is a basic summary of some good options to help keep those costs down. Looking at cellphone contracts and costs can be...
By Shaun Ruiters, head of Retail Strategy and Solutions at Sanlam Investments. The first quarter of 2015 was once again dominated by strong returns in the equity markets, both locally and globally. Locally the FTSE/JSE All Share Index delivered stellar returns of...
There may be very good reasons to postpone starting a family, but it’s also important to consider the potential financial implications when you make this call, says Karin Muller, head of Growth Market Solutions at Sanlam. People are delaying having children for...
As people’s budgets come under increasing pressure, the number of people who can afford to buy new cars is dwindling fast. With banks financing two used cars for every new car purchase, the second-hand car market is booming. If you want to sell your car privately,...
You may spend your holidays thinking about owning coastal property, or maybe you're considering increasing your property portfolio with a number of buy-to-rent assets. Dale Peckover, wealth manager at AlphaWealth considers whether it's a better idea to just buy into...
Too much month at the end of your money? It might be time to start really paying attention to your loyalty programmes so that you can get the best value for your money. Recently FNB announced that eBucks members had earned R5 billion in eBucks since the inception of...
David Leslie, a director of Belmont Asset Management in Cape Town, takes a look at the concept of intergenerational wealth management. Intergenerational wealth management is an approach to wealth management that spans different generations within a family. We often...
You have a complaint against a financial services company and you are frustrated beyond belief. So, you find their Facebook page and post your tale of woe along with all the relevant information. Stop. Have you thought about the full implications of doing so? Most...
Consumers in Gauteng and the North West who are not able to pay their debts and who are being taken to court by credit providers can now request the magistrate to refer the matter to court mediation. Magistrates will also encourage parties to go for mediation on any...