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...
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...
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...
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...
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...
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...
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...
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,...
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...
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...
Previous Articles
A budget for your first paycheque
Before you spend your first paycheque on luxuries, make sure you draw up a budget. Once you graduate and start working, it may feel like you have won the lotto. You go from struggling student to having your first paycheque. This novel feeling of wealth is often short...
Cybercrime syndicates running rampant in SA
Recent data from TCG Forensics shows that South Africa is being overrun by cybercrime syndicates, with the country rapidly emerging as the ‘cybercrime capital’ of Africa. South Africa is poised to surpass Nigeria and its notorious ‘Nigerian Prince’ scams in terms of...
Addressing the gender pension gap
South Africa’s gender pension gap sits at 26%, reflecting the average difference in retirement income between men and women. Farzana Botha, Segment Manager at Sanlam Risk and Savings, says that often, women cannot afford to retire as early or as comfortably as men....
Listen: How bank scams work
In this podcast, Jean Rossouw, Head of Financial Education at Capitec, and Nick Harris, Head of Financial Crime at Capitec, explain to Maya how various bank scams work, how to identify a scam before it is too late, and what to do if you are a victim. As banks improve...
Building vs buying a home
When it comes to finding a new home, the building vs buying question is ever-present, and deciding between buying an existing property or building from scratch can be daunting. “There are numerous factors to consider including location, customisation options, and...
Can our fragile currency bounce back?
Renier de Bruyn, Head of Asset Allocation at Sanlam Private Wealth discusses the outlook for our fragile currency: whether there's a chance it may return to ‘fair value’ over time, and how this impacts long-term investment decisions. The rand has been severely...
Easy-access funds with high interest
Money market unit trusts and income funds I recently looked into some of the great interest rates that banks are offering on fixed deposits. But what if you don't want to lock your money away for a fixed period of time? Money market unit trusts and income funds are...
Criminal syndicates can hack your phone in minutes
Criminal syndicates are targeting the theft of cellphones not for the value of the phone, but rather to access your data including your banking apps. This is according to Kevin Hogan, head of fraud risk at Investec Private Bank. Hogan says that technology which was...
What is a TFSA and why you should open one
Opening a tax-free savings account (TFSA) is a great way to start investing. If there is one investment all South Africans should aim to have it is a tax-free savings account (TFSA). This is an excellent investment vehicle for growing long-term wealth and there are so...
Allegations of corruption around tax refunds
Rumours are circulating about corruption around tax refunds, though it's unclear exactly how this is possible within the current tax administration system. Administrative delays and poor service delivery in any organisation create fertile grounds for corruption. This...