“I bought a house 15 months ago and I have been paying about R500 extra. As a first-time buyer I received a +0.4 prime rate. Can I get the bank (Absa) to review and reduce my interest rate, if so what do I need to do and what will they be...
You are Here >
Home > Financial Sense >
Debt: the kiss of death
Recently I had two very disturbing conversations about the world of debt. The first was a conversation with someone from the Credit Ombud about how debt administrators and debt collectors farm debtors’ books. Although this practice is less...
Stay healthy and make your medical savings last
Instead of overwhelming yourself with resolutions in the New Year and then falling off the bandwagon too early, let 2014 be the year in which they stick. Andrew Edwards, Executive Principal Officer of Liberty Medical Scheme and fitness expert, Lisa...
Five reasons to sort out your finances today
"Better late than never", or so the saying goes. We say: "Better now than too late." But dealing with financial matters is something that we tend to keep putting off. Here are five reasons why you need to sort out your finances today! 1. Beat the...
Financial hangover recovery plan
If you’re battling with a financial hangover from a holiday spending spree, we have a 5-point plan to get you back on track: 1. Budget Write down an accurate and honest list of your expenses and income. Use your recent bank statements, invoices and...
Uninsured drivers beware
Insurers are becoming more enthusiastic about suing uninsured drivers to recover costs. If you are uninsured and crash into another vehicle causing damage amounting to thousands of rands, you are liable for those repairs. Even if the other driver...
How long will it take you to pay off your credit card?
If you only pay the minimum due on your credit card you will remain indebted for decades. The Australian government’s website MoneySmart.gov.au has a very handy calculator that shows you how long it will take you to pay off your credit card based...
How to start trading on the JSE
If you want to start trading shares on the Johanneburg Stock Exchange there are many great products to get you started. It is important to understand the risks of investing in shares and that this is not a get-rich-quick scheme. Identify what kind...
Investing in property as a club
Ewald Kellerman, Head of Sales at FNB Home Loans says that investing in property as a club brings with it certain challenges: Change in ownership/members of the rental club may be costly. The bank will hold the members liable for the loan, not the...
Payment options when travelling overseas
If you are planning on going overseas this holiday season, make sure you have your currency sorted before you leave. Whenever I land overseas I withdraw some cash at the airport ATM using my credit card. However on my last overseas trip I...
Previous Articles
How to maximize your first paycheque
A young person starting at their first job suddenly realizes that their first paycheque brings with it substantial power. But understanding this power, and how to wield it, is an extremely important lesson to learn. The power of money can create wealth and abundance...
Don’t rush into home ownership
Most young people have two main goals when they start working: to buy a car and to buy a home. Both of these are big commitments and if you have not done your homework properly, home ownership in particular could cost you more than you realise. Ewald Kellerman, Head...
Turn your stokvel into an investment club
If you have an existing savings club with a group of friends that you want to take to a new level, creating an investment club to build wealth is a great strategy. Twelve years ago the Ya Rona club transformed itself from an informal savings club, which facilitated a...
How to get out of debt review
If you can prove that you are able to start making regular payments, you can request to end your debt review. When Joseph Masemola's debt began to spin out of control in 2010, he applied for debt review via a debt counsellor. Since then, he has managed to settle and...
Four questions to ask when investing
“I have R100 000 I want to invest. The only debt I have is vehicles and school fees. Where should I invest my money?” writes Simon. Maya replies: Where to invest depends on your personal circumstances and it is always a good idea to get good financial advice. There...
Investing in residential property: is now the time?
Investing in residential property has fallen out of favour over the last few years. In 2003 around 25% of property purchases were for investment purposes; that figure has fallen to 8%, according to the FNB Property Barometer. These figures are hardly surprising when...
What carpooling means for your insurance
With the price of petrol having reached record levels recently, carpooling is something you could consider as a means to cut your travel costs. However, if you do decide to carpool, you need to inform your insurer or broker immediately and find out what the...
Five tips for selling your story to a venture capitalist
Erika van der Merwe, CEO of the South African Venture Capital and Private Equity Association (SAVCA), has some tips for entrepreneurs who are looking for funding from a venture capitalist. It’s all about people The venture capitalist will do thorough background...
Simple retirement calculator
Sanlam Employee Benefits (SEB) has developed a very simple calculation that you can use to work out whether you are on track with your retirement savings. Dawie de Villiers, CEO of SEB says the beauty of the calculation is that it can be applied with very little...
Consumer Protection Act: Know when to complain
We’ve all had a bad customer experience, but how many of us actually take it further? Under the Consumer Protection Act (CPA), you may be entitled to compensation. Consumer Goods and Services Ombud (CGSO), Adv. Neville Melville points out five common areas of...