Taking control of your finances has a profound impact on your overall wellbeing, resulting in reduced stress, improved relationships, and better self-esteem. Writing up a budget, tracking your spending, and creating a debt repayment plan will not...
Should I cash out my pension?
I’m thinking about resigning so I can cash out my pension and rather invest the funds myself. What are the pros and cons of doing this? Maya's Answer Some people feel more in control if they can manage their own investments, however, this is not...
The unexpected value of not getting a year-end bonus
Freelance writer Capo Cassidy ponders the possible upside of not getting a year-end bonus. It’s year-end bonus season, and for the first time in many years, having stepped off the treadmill of a corporate job, there is not a glimmer of hope that I...
Women in Conversation: Navigating money conversations in a relationship
Money is not only rands and cents – it is also a currency of emotions, which is why money conversations are so hard. In this podcast, Maya and Andrea have a candid discussion with relationship therapist Connie Valkin about how to have these...
Why it’s so easy to blame the banks
The reason we have a weak rand is a bigger issue than short-term trades by the big banks. A colleague of mine recently told me, “I hate banks”. And it seems she is not alone. If I post a comment that is critical of a bank, my timeline is soon...
And the winner is…
The winner of the 2023 Money Makeover Challenge has been chosen. The 2023 Absa City Press Money Makeover boot camp has come to an end and once again, all of our candidates have shown what is possible in just six months. They are proof that the...
Don’t fall victim to a delivery scam this festive season
A delivery scam usually takes the form of an email that pops up in your inbox telling you that you have a parcel waiting for you, and that you should click on the provided link for further details on the necessary steps to get your parcel...
Debt is often just a click away
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...
Funding your start-up
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....
How do South African women feel about investing?
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...
Previous Articles
Women in Conversation: Creating financial equality in a relationship
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 in the relationship...
Virtual consultations – a way to cut medical costs
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 to all members. It...
Tips when considering a solar PV system
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 essential in order to...
Supporting a family through self-employment
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 situation is all too...
Review your medical plan
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 take the time to...
Women in Conversation: Marriage Contracts
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 realise the importance...
Setting your financial priorities
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 starting point is to...
Listen: The ins and outs of medical aid
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...
Celebrity endorsements, crypto and crashes
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,...
How a beneficiary fund can provide for your child
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...