Between 1 December 2014 and 5 January this year, there were 1 118 fatal road accidents recorded, resulting in 1 368 fatalities. Such frightening statistics have prompted short-term insurer Santam to develop an app which is designed to help your...
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How to cut your fuel bill
The fuel price increase on 1 April was unfortunately no April Fool’s joke. Motorists are now paying an extra R1.62 per litre of petrol, which means that if you fill up your 50-litre tank twice a month, you're now spending an additional R160 per...
The high cost of death
Why death is killing us financially “Around 85% of people’s debt problems start with a death in the family,” says debt counsellor Deborah Solomon. Despite a relatively high penetration of funeral policies, Solomon says the cost of death in families...
Should you use tax-free savings accounts for retirement?
South Africans are now able to invest up to R30 000 a year in tax-free savings accounts (TFSAs). The aim of these savings accounts is to encourage South Africans to save for medium-term goals and emergency funding, reducing our reliance on debt and...
Bull market poised to turn bearish
Insight on dealing with a bear market from award-winning active asset manager Rob Spanjaard, of Rezco Asset Management. The bull market has been going for over six years and investment managers now need to moderate their risk in anticipation of a...
The meaning of money
Money can fulfill us or just fill our homes. Recently, as the fires raged in the mountains above our home in Hout Bay, I had that moment of complete clarity about the meaning of money, relationships and what really matters in my life. When we...
The high cost of insuring your loan
Despite an investigation into the rates charged by credit providers for insurance, borrowers are still paying high rates for their credit insurance. If you were stuck for cash and needed to borrow R5 000 which you would pay back over just four...
Invest for income
By Simon Pearce, CEO Marriott Asset Management Saving is rather like trying to lose weight: it takes effort and willpower, and is entirely up to you. People often ask me how much of their annual income they should save. I tell them that 30% will...
Fraudsters target ATMs
ATM card swopping leaves bank customers with little recourse when funds are stolen from their bank account. Sidwell contacted me after money had been taken from his bank account. His bank refused to refund him after his card had been swallowed...
Five steps to sustainably grow your wealth
Middle and upper-class South Africans are earning more than enough to afford comfortable lifestyles, but they need to come to terms with the trade-offs required to ensure that their lifestyles are sustainable well into a long retirement. Andrew...
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Tax-free savings options
Companies have been racing to capitalise on the tax-free savings accounts. We sum up what products have come to market so far. Financial product providers have by and large brought out two types of tax-free savings accounts (TFSAs): a basic bank savings account which...
Pay back that study loan!
Credit Ombud Manie van Schalkwyk explains why it's vital that students pay back their study loans. Thousands of students rely on study loans to see them through their years of studying at tertiary institutions. Without these loans, many would not have a chance to...
Investing overseas: capital preservation in uncertain times
By Derry Pickford, Macro Analyst at Ashburton Investments (@AshburtonInvest) Two esteemed US Economics Professors, Maurice Obstfeld and Kenneth Rogoff called it one of the six great puzzles in macroeconomics: "home bias". Why do investors keep so much of their...
What to do if you’ve cashed in your pension fund
The continued mass resignations and cashing-in of pension funds by employees belonging to the Government Employees Pension Fund is a concern that has been highlighted widely. The biggest risk in withdrawing your pension fund is the issue of financial stability at...
Become your own debt reviewer
By Wikus Olivier, debt expert at DebtSafe Debt is an issue that most South Africans unfortunately find themselves facing for most of their adult lives. Every individual deals with different forms and scales of debt, but for some, their debt spirals out of control....
Tax-free savings a reality
Tax-free savings accounts (TFSAs) get the go-ahead. From 1 March 2015 South Africans will be allowed to invest up to R30 000 a year in tax-free savings accounts (TFSA). (*Update: this amount was increased to R33 000 per year on 1 March 2017 and to R36 000 per year on...
Tax-free savings – will it work?
South Africa’s declining household savings rate has been of national concern for some time now – in fact this burning issue has found its way into the annual budget speech year after year. But while initiatives have been implemented to try alleviate the problem – such...
The impact of lower inflation on investment returns
Dave Mohr, Chief Investment Strategist at Old Mutual Wealth, explains that investors with portfolios that include performance benchmarks that target inflation-linked growth should not be overly concerned about the possibility that their returns will be reduced...
Implement Your Money Plan: forum and book giveaway
After nearly 11 years of engaging with readers across many publications, I realised that while there are many books that cover the theory behind creating a financial plan and offer encouragement to do so, what was really needed was a money book that offers practical...
How to stick to your New Year’s resolutions
We know if we want to lose weight we need to eat less and exercise more and we know that in order to grow wealth we must spend less and save more. So why then do we give in and buy the chocolate bar at the counter when we purchase our groceries, or whip out our credit...