When we think about investing we typically think about our long-term goals such as retirement. But what are the options for short-term savings, where you will need the money in less than five years? This could be for a deposit on a home, saving for...
If your kids ask you to increase their allowance, rather take the opportunity to teach them how to budget. My youngest started university this year and is living on campus. We gave him an allowance to cover his various expenses including additional...
Many years ago, when I was trying to pay off my debts and get my finances under control, I used the technique of “cash stuffing” (in those days, we called it “the envelope method”). This was essentially a way of going back to cash and avoiding...
In the second episode of a six-part podcast series entitled “Emotions and Money”, Maya chats with Paul Nixon, head of behavioural finance at Momentum Investments, about the different personality traits and how your personality could be affecting...
Discovery Health is offering members a once-off additional benefit called the WELLTH Fund, to be used to cover additional costs incurred in preventative screening. Research by Discovery Health Medical Scheme (DHMS) found that general health checks...
Most medical schemes will tell you that they ensure the health of their members by providing preventative screening benefits that are paid for from the risk portion of the scheme. What this means is that certain health tests are paid for not by...
Could your bank be charging you an “honouring fee” when you go over your credit limit, just to save you embarrassment at the till? Have you ever been in a situation where you are out shopping and happily using your credit card, thinking all is...
PayShap could be a game-changer in South African banking, effectively eliminating the need to make cash payments. From a banking customer perspective, PayShap is simply another payment channel to add to the various options already available. One...
Have you thought about applying for debt counselling but decided against it, because you weren't really sure of the benefits? One benefit you may not have considered is that successfully completing debt counselling could help your credit score....
In February’s budget speech, the government introduced some tax relief for households who wanted to get off grid by investing in solar panels. However, this relief won’t help to fund the entire installation cost, and with solar panels costing in...
PayShap is a new payment technology available in South Africa that allows anyone to transfer money into someone's bank account using just a cellphone number. In order to be paid directly into your bank account, you no longer need to share your banking details with...
The City Press Money Makeover Challenge is once again open for applications. There are only six places available so only the most committed applicants will be considered. If your debt keeps you awake at night and your money is running out long before month end, or if...
Young people just starting out on their financial journey can learn a lot from the money regrets of older people. Research commissioned by Sanlam that interviewed more than 5 000 South Africans, found that more than half would advise their young selves to think of...
If you feel your banking fees are too high, you may need to review your banking behaviour. The recent Solidarity Bank Charge Report rates FNB as one of the best value-for-money banks, with the average middle-class customer able to bank for less than R100 a month....
Jackie Smith, Head of Buyers Trust, warns that prospective tenants and home-buyers are becoming the targets of increasingly sophisticated property scams. Over the past two decades, internet sites such as Property24, Facebook Marketplace and estate agency websites have...
When an investment promises a guaranteed return above what a cash investment would yield, chances are it's a Ponzi scheme. “Do you think this investment is legit?” That's a question I receive at least once a week. While it's great that people are starting to become...
Over the last few months, the Financial Sector Conduct Authority (FSCA) has issued several warnings against fraudulent companies and individuals that it believes are putting people’s hard-earned money at risk. None of these companies or individuals is a registered...
Will President Ramaphosa's SONA announcement on reforms to attract foreign talent really benefit South African critical skills employers? "We certainly welcome these initiatives as a win for organisations that are desperate to acquire scarce skills that are not...
There have been mixed reactions to Minister of Finance, Enoch Godongwana’s annual budget speech this week. The general feeling is that while the financial manoeuvrings by National Treasury are commendable, there appears very little faith in government’s ability to do...
National Treasury’s response to Eskom can be a lesson on managing family demands. You get a call from a family member who urgently needs money for some emergency. Your finances are stretched, and you have already provided support to the person. How do you handle the...