When you have people who depend on you financially, life cover becomes a crucial part of your overall financial plan. But thinking about these issues at a young age can be a little overwhelming, and it's difficult to figure out the right level of...
How to start an investment club
An investment club is a great way to learn about investing. You can give different members the responsibility to each research a different topic, and then educate the group on it at regular meetings. Members could even go to a seminar on behalf of...
Handle Black Tax Like a Pro
Black tax is not so much about money as it is about boundaries, says Ndumi Hadebe, author of Handle Black Tax like a Pro. In ten relatable stories that range from absent fathers to siblings’ expectations, self-leadership coach Hadebe explores the...
Where to stash your short-term savings
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...
Teaching a student how to budget
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...
Is “cash stuffing” a good idea?
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...
Listen: How your personality traits affect your relationship with money
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...
How the Discovery WELLTH Fund works
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...
Understand the preventative screening benefits of your medical scheme
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...
Would you pay an honouring fee to avoid “embarrassment”?
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...
Previous Articles
PayShap can reduce cash payments
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 can decide whether to...
Can debt counselling help your credit score?
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. Debt management company...
How to fund your solar panels
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 the region of R5 000...
PayShap: instant payments with just a cellphone number
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 Money Makeover Challenge is looking for you!
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...
Do you have money regrets?
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...
Time to analyse your banking fees
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....
Property scams to watch out for
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...
Are you invested in a Ponzi scheme?
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...
Beware these fraudulent companies
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...