A reader wants advice on where to save towards buying a property. “My mother, sister and myself would like to open a savings or investment plan whereby together we would contribute R900 monthly and increasing it by R300 yearly or bi-annually for...
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Card fraud: don’t transact in the open
Free internet connectivity provides an opportunity for fraudster. Free internet services are the hunting grounds of fraudsters who use remote devices to log keystrokes on your laptop when you transact online, says Henk Vermeulen, card fraud...
Understand income vs growth
Which investment is right for me, asks a reader “I am 27 years old and currently working as a petrol attendant at a garage. I am interested in investing for income purposes. I saw that Old Mutual has an investment scheme called Income For Life...
Financial literacy: lessons from abroad
Last month I spoke at the Financial Literacy & Education Summit, an annual global conference sponsored by Visa that addresses issues around financial literacy. Engaging with global experts not only allows one to share country experiences but is...
Getting out of debt is about a change in attitude
“In 2011 after getting advice through City Press I managed to pay off all my debt. I have since gotten married and we bought a house and a car. Now we are in debt and a financial mess. I have two credit cards totaling R27 000, an overdraft of R21...
Make April 27th your Debt Freedom Day
The 27th of April is Freedom Day in South Africa, marking the annual celebration of South Africa's first non-racial democratic elections in 1994. Since political freedom, South Africans have striven to correct the wrongs of the past. South Africa...
The best way to preserve your pension
David Elliott of Marriott Asset Management explains how to choose between a preservation fund and a new employer’s pension fund when moving jobs When you change jobs, you receive a pension pay-out, but the best thing to do with these funds is to...
Why money matters are gender biased
As a panelist at the global Financial Literacy and Education Summit, to be held in Chicago on April 17, I will be joining other personal finance journalists from around the world to provide a perspective on women and financial literacy. This has...
Rising costs of car ownership
With steep increases in the price of petrol, the running costs of your car could be as much as your monthly instalment. Last month South African motorists faced the largest ever petrol price increase with the cost of petrol increasing by a massive...
Lessons from an entrepreneur
Creating a successful business requires two important elements: identifying a gap in the market and managing your finances, which includes keeping debt to a minimum. After working as a sports commentator during the 2010 World Cup, which enabled him...
Previous Articles
Knowing your break-even point
A small business owner learns the importance of knowing his break-even point Nico Jano runs a waste management business in Pofadder in the Northern Cape which in his words is “making some money”. He is now in a position where he needs to start managing his finances in...
Putting words into practice
Putting a personal financial plan into action After writing my review on the South African version of Dave Ramsey’s Total Money Makeover, I received an email from a reader who shared his experience of getting his finances in order after reading the US edition of Total...
Limit your financial risks by protecting your cellphone
Contract customers in particular need to be extra vigilant about protecting their phone especially in light of new fraud syndicates that use your SIM to call international premium-rated numbers and clock up R2 800 an hour on your phone bill. The first step is to...
Risky Business: SA Bond market poses more investment risk than you think
With developed-world bond yields currently looking unattractive, emerging market bonds are increasingly more in demand from foreign investors. However investors should be aware that the bond market is not as low risk as it might once have been. This is according to JP...
Cellphone companies need to re-examine their policies around fraud
A new form of crime around stolen SIM cards can cost a customer up to R2 800 an hour, but some cellphone companies don't seem to care. At around 5.30pm one evening Jenny Hibbert’s cellphone was stolen from her handbag at a restaurant. Only noticing the missing phone...
What you need to know before turning 40
What most 40 year-olds discover is that the choices they made ten years ago are now limiting their options when it comes to retirement, risk and medical cover. When you are in your 20s, it is hard to imagine what it would be like to be 60 years old; it is...
Get a Total Money Makeover
How the experience of editing the Total Money Makeover changed the way I view my finances Having written on personal finance for the last nine years and being a financially savvy person, I didn’t think there was much I would learn from working on the Total Money...
Beware of online fraudsters
How one victim lost R11 000 to elaborate e-commerce fraud A City Press reader was recently scammed of R11 000 when he bought goods through a website selling electronic goods. His experience highlights the need to be cautious about who you are dealing with on the...
Who controls your money decisions
Modern day philosopher and writer Alain de Botton wrote a provocative article in The Wall Street Journal entitled Why most men aren’t man enough to handle web porn. While this title may seem completely irrelevant to personal finance (apart from the amount of money...
A financial plan is all about focusing on income
As a young person studying while working on becoming an entrepreneur, Shaun needs some advice on how to juggle his finances. Focusing on income and avoiding debt are the golden rules of success. Shaun is 21 years old and is studying a BComm in accounting science at...