I was recently asked whether or not it was possible for a family of four to live without short-term debt. I think the question needs to be reversed. We need to be asking why we believe we need debt in order to live. According to the Old Mutual...
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The one-hour budget
What a budget really means is spending less than you earn and saving the balance. Most of us think we know the state of our finances, but right now can you say exactly how much do you spend each month? But it would take less than an hour to draw up...
Did you change your locks?
Today I received a press release from an insurance company which made me realise I have been very lax about my security. The article raised the point that most people do not change their locks when they move into a new home. I just realised I never...
What do rich people know that we don’t?
South Africa is one of Africa's richest nations and we are seeing an increase in wealthy families. These families generally have one aim in mind – to grow wealth and, where possible, pass it on to future generations. Leaving a legacy is something...
Calculate how much energy your electricity appliances use
Knowing exactly how much electricity you use is essential if you are going to introduce an effective power saving campaign at home and save money. Your electricity bill will give you the details on what your tariff is. According to De Wet...
How to reduce your monthly car expenses
South African consumers may be buying cars with alacrity, but the cost of running a car isn’t insignificant. With this in mind, Chris de Kock, executive head of sales and marketing at WesBank, has come up with some tips to help us all save on our...
Is your divorce a corporate risk?
There's only one thing more fascinating than a celebrity marriage, and that's a celebrity divorce. Particularly when it's messy, vituperative and, yes, expensive. But it's when we think of divorce as a corporate risk that it takes on another whole...
Should you be paying provisional tax?
If you've checked the provisional tax status of your eFiling profile, you may have noticed that all taxpayers are now loaded as provisional taxpayers. Why is this? Technically, any person deriving income that's not remuneration is eligible for...
The lowdown on ‘deal of the day’ websites
Everyone loves a good deal or a discount. If you haven't already discovered sites like Zappon, Groupon, What-a-Deal, UbuntuDeal, Wicount or Twangoo (and there are more), you're missing out on some savings. You do need a credit card – though...
Seven must-read fuel-saving tips
The Department of Energy's fuel-efficiency tips might just save you quite a bit each month. Close your windows when you drive. An open window creates drag, which increases fuel consumption by as much as 20%. Multigrade oil reduces drag, so consider...
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The tax implications of donating to charity
What are the tax implications of donating to charity? Billy Joubert, tax director at Deloitte, says that donations are tax deductible if they’re made to certain types of non-profit organisations. To get the deduction, the donor would need to obtain what's known as a...
What is a unit trust and how do I invest?
“I've freed up R500 per month and would like to invest this amount every month in a unit trust account, but I don't know anything about unit trusts, how they work or who to contact to do this,” writes Thami. Maya replies: This is an excellent question because you want...
Is an electronic will valid?
A recent Supreme Court of Appeal decision, which declared an email will to be valid, gave me pause for thought. Are "e-wills" the wills of the future? Jacinta Bassuday, manager of Legal, Standard Executors and Trustees Limited, set about explaining the situation to...
Is it time to find a new executor?
If the executor of your will is not especially dynamic or able to drive hard to finalise a testamentary process, it may be time to find a new one. This is because some estates now take more than two years to wind up and a diligent executor needs to push to have the...
We really do want clean, green products
If you could choose to buy products from companies supporting fair trade and campaigning to end testing on animals and child trafficking, would you do so? What about companies that reduce their carbon emissions and opt for cleaner, greener technology? Research...
What the Good Card has to offer
The Good Card is a charitable initiative that lets you earn passive income while you help those less fortunate. It's really a Visa cash-back card, and R45 of your monthly subscription fee of R289 goes to a charity of your choice. At the same time, you get cash-back...
Twelve tips for buying a used car privately
FNB and the Automobile Association (AA) offer these really helpful tips that could save you money in the long run. Used cars have to pass a roadworthy test – ask for proof of roadworthiness. All legitimate vehicles have three main identity numbers, the number plate,...
What should be in my financial plan?
Pay off debt: It is always best to pay off high interest debt like your credit card. If you want to use your credit card for convenience set up a debit order so that it is paid in full at the end of every month. Emergency fund: Everyone should have an emergency fund....