Every parent would like to be able to leave a family legacy to help their offspring get an advantage in life and have a greater chance of creating real wealth in the family. Leaving an inheritance is one of the main goals identified by retirees...
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Shopping online: how to avoid overspending
According to World Wide Worx, which monitors the local e-commerce landscape on an annual basis, in conjunction with MasterCard, online shopping has stayed in line with forecasts over the past few years – slightly surpassing last year’s...
No-deposit home loans
A recent survey in the UK found that young adults are increasingly relying on their parents to help them pay for a deposit for their first home. The survey conducted by mortgage lender Halifax found that the majority of parents believed they would...
Why retirement may be redundant
If you are 45 or younger, forget retirement. Immortality may be within reach in the next 40 years – or at the very least we will all be living a lot longer than we are now. Viresh Maharaj from Sanlam Employment Benefits says that scientists are...
How to talk about money with your partner
An hour before interviewing Carl Richards, author of The Behavior Gap, my husband and I had just had one of those money arguments that all couples invariably have, so as I shook Carl’s hand I blurted out “how do you speak to your partner about...
Feeling the squeeze
I recently undertook an exercise to see how much my monthly bills had gone up over the last few years and was shocked to discover that our household was spending nearly double on groceries than we had four years ago. At first I was in denial – I...
Not all financial planners are equal
Last weekend, I spent my time searching for elusive pieces of paper and trawling my inbox for financial statements. It was a partly frustrating, partly liberating experience as the aim was to get all our family’s financial paperwork together so our...
What you need to know about domestic worker contracts
You’ve employed the same domestic worker for the last 10 years but now, due to a change in your financial circumstances, you need to either end her contract or reduce her working hours. If you don’t follow the correct procedures, you could find...
Beware of debit order fraud
When Jurie Pohl discovered that fraudulent debit orders amounting to R12 000 had been deducted from his bank account over five years, he became the latest victim of a financial crime where syndicates are deliberately using the debit order system to...
Do you need to bank with the big four to get a home loan?
As banks become tighter about who they lend to, with preference going to their own client base, could banking with Capitec hurt your home loan application? This was a question posed by Akhona who has banked with Capitec for a long time. “I have...
Previous Articles
Tax Ombud to give taxpayers a fair hearing
Taxpayers generally have the odds stacked against them when it comes to disputes with the South African Revenue Services (SARS). With wide-ranging powers provided to it under the Tax Administration Act, SARS is able to request information about taxpayers from third...
Be wary of investment seminars
Sebobe was invited by consultants working for the London School of Investment to attend a presentation about investing in the JSE. They are selling their software for between R14 900 and R19 500 and claim that after their training presentation he will be equipped to...
Managing client expectations under different inflation scenarios
David Leslie, MD of Belmont Asset Management in Cape Town, explains that investors should take the inflationary environment into account when they evaluate the growth rates of their portfolios. It is sometimes a good idea to reiterate certain core concepts when...
The value of pet insurance
When we bought a gorgeous Labrador puppy for our son’s birthday I decided to take out pet insurance. Little did I realise that this was one of the best financial – and emotional – decisions I would ever make. Since we live in an area surrounded by natural veld, tick...
Don’t chase market performance
Steven Nathan, CEO of 10X Investments, warns investors not to be influenced by short-term market performance. Every year, legendary investor Warren Buffett's annual letter to shareholders offers valuable investment advice. In his most recent letter, he reaffirms the...
How to save for a deposit
You can improve your chances of being granted a home loan or vehicle finance as well as the interest rate you are offered, if you have a deposit of 10 to 20%. With interest rates expected to increase over the next two years, banks are going to become more cautious...
Are your children wrecking your retirement planning?
Lara Warburton of Imara Asset Management warns of the dangers of putting your children's financial needs before your own. How long should you financially support your children and when do you start looking out for your own future and that of your spouse? It’s a tough...
Air tickets: read the fine print
Air travel is not cheap and even “low-budget” airlines charge you more than R1 000 for a local, return flight. However, low-cost air tickets come with a non-refundable clause, so you get what you pay for. Read the fine print before you buy because a refund might not...
Do you qualify for credit amnesty?
Credit Ombud Manie van Schalkwyk unpacks the credit amnesty, and separates out the myths from the facts. In the lead-up to 1 April, there have been many misconceptions regarding the credit amnesty: exactly who will benefit, what information will be removed and even...
How to handle joint expenses
When you get married it is not just your hearts that become one, but also your money. Even if you are one of those financially independent couples where ‘his is his’ and ‘hers is hers’, when you live together, have kids together and hopefully retire together, there is...