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...
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...
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...
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...
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...
ID theft: don’t become a victim
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 –...
Still no action on payroll deductions
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...
Water crisis in SA
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...
Am I being taxed twice?
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...
Listen: Supporting your aging parents
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...
Previous Articles
Financially stressed out
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
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...
Getting a life cover payout in 48 hours
Ensuring that your life cover includes an immediate payment benefit is the key to getting a partial payout in only 48 hours. One of the main reasons for taking out life cover is to provide for your dependants after your death. If you have family who are financially...
Comparing bank accounts for solopreneurs
FNB, Standard Bank, Absa and Nedbank are leading the way in supporting solopreneurs. But what should you know before you apply for an entry-level business account? Angelique Ruzicka investigates. Solopreneurship (a reference to individuals who start businesses – in...
Instant payments get cheaper
TymeBank, Capitec and Discovery Bank have now joined Absa, FNB, Nedbank and Standard Bank as part of the PayShap payment system which allows for instant payments between bank accounts. PayShap, the brand name for the Rapid Payment Programme, is a new payment rail that...
Scams masquerading as stokvels
Several scams have claimed to be stokvels in an attempt to gain legitimacy. The word stokvel tends to be used very loosely by people who are trying to legitimise a scam. At no point did United African Stokvel (UAS) ever operate as a stokvel. It was an investment fund...
How did United African Stokvel con so many people?
There has been a great deal of media coverage regarding the investigation into United African Stokvel (UAS) by the Financial Sector Conduct Authority (FSCA). Thousands of investors claim to have lost money, with losses estimated to be around R100 million. Many of...
Listen: The link between mental and financial wellness
An important aspect of financial wellness is mental wellness. Financial stress can cause emotional stress: it impacts our relationships and our workplace. As part of this year’s Money Makeover Challenge, I had a discussion with Dr Lesego Rametsi, group head of health...
What does great financial advice look like?
Rory Brachner, Managing Director at DoshGuide, provides some tips on how you can recognise great financial advice. There are tens of thousands of financial advisors in South Africa, but there is considerable variability in the quality of advice they offer. Many will...
Should you extend your home loan to make ends meet?
If you're a homeowner under financial pressure, one way of reducing your monthly expenses is to extend your home loan. Homeowners in South Africa are under immense financial pressure these days due to the high interest rate coupled with the increasing cost of living....