How social media can encourage you to overspend and destroy your finances. Once upon a time, it was easy to see when you were about to get into debt. You saw cash leaving your wallet and knew from the balance in your account that you needed to stop...
When Sello entered the Money Makeover Challenge, he was establishing a start-up business to manufacture eco-friendly straws for restaurants and retailers. He had taken out personal loans to purchase manufacturing equipment to produce the prototype....
There is a significant gender confidence gap when it comes to South Africans’ attitudes towards investing. In 2021 Fidelity, a large asset manager in the US, ran a nationwide survey to understand women’s attitudes towards investing and their...
Money conversations are hard. They are harder than conversations about sex or the in-laws. But there is seldom financial equality in a relationship, and this inequality often causes conflict. The person who makes more money tends to have more power...
Most South African medical schemes now offer some sort of remote health consultation service. Making use of these virtual consultations is a great way to save on medical costs. My scheme (Momentum Health) offers a service called Hello Doctor free...
Teresa Kok, Marketing Director of the One Energy Group, provides some solid, practical advice for anyone considering installation of a solar PV system. For many households and businesses, investing in a solar photovoltaic (PV) system has been...
When a Money Makeover candidate has a small enterprise, we always start with separating business finances from personal finances. This is the only way to understand whether the business is making money and where the weaknesses are. Raymond’s...
Medical schemes have announced their price increases and new plans for 2024, which means it’s time to review your medical plan. While the new premiums and the plan changes still require approval from the Council for Medical Schemes, everyone should...
In this series of conversations, Maya speaks to Andrea Carr about her experience of getting divorced which has led Andrea to question many of the decisions she made as a woman, as a mother and as a wife, when it came to her finances. It made her...
We may all have several financial goals and aspirations, but how do we decide how to order our financial priorities? Should we pay off debt or build an emergency fund? Should we be saving for our children’s education or for our retirement? A...
It is that time of year when your medical aid informs you how much more you will be paying in 2024 for your medical cover. In this podcast, Maya chats to Jillian Larkan, head of healthcare consulting at financial advisory firm GTC to unpack the mysteries of medical...
Fred Razak, Chief Trading Strategist at CMTrading, warns potential investors to exercise utmost caution when encountering unsolicited cryptocurrency offers, regardless of celebrity endorsements. Amid the 2021 crypto boom, prominent figures such as Kim Kardashian,...
If your retirement fund and group life cover make up the largest portion of your assets, a beneficiary fund may be a simple and cost-effective way to ensure that your minor child receives a regular income if something should happen to you. Your retirement funds do not...
My husband was recently a victim of ID theft, and the experience highlights how easy it is for fraudsters to use your identity to open accounts. The number of ID theft victims continues to increase. The trend is exacerbated by data breaches – including at credit...
Despite several government investigations and submissions from interested parties over the past seven years, there has been no concrete action taken to address unethical payroll deductions. Concerns regarding payroll deductions have been raised for many years. In...
We are only starting to understand that we are facing a water crisis in South Africa. I was recently on a panel discussion regarding the future of electricity and water in South Africa. While we are all too familiar with the electricity crisis in South Africa, the...
Your applicable tax bracket is calculated based on all of your income streams added together. Shivi writes: “I earn a monthly salary from my job, and I also receive a monthly amount of R14 000 which is from my late father’s retirement policy. Tax gets automatically...
Many South Africans are finding themselves supporting their aging parents, thanks to the combination of a tough economy and insufficient retirement funding. But it’s critical to plan this key transition carefully to ensure your own finances stay on track and that you...
Financially stressed out, drowning in debt and struggling to buy the basics, were the overwhelming results of two separate financial consumer surveys recently released. DebtBusters’ second annual Money-Stress Tracker, which surveyed 35 000 individuals who were not...
Managing family expectations may include having tough conversations with parents and relatives before you agree to help them financially. Setting boundaries with family members is always difficult, but if you do not look after your own finances first, you will not be...