Maya (@mayaonmoney) speaks to financial planner Terence Tobin (@terencetobin) of Rich Ideas about ways to cut your tax bill whilst growing your investments. Terence unpacks the pros and cons of retirement annuities, how to use a tax-free savings...
Beware sexually transmitted debt
National Debt Advisors caution South Africans against sexually transmitted debt in light of the global prevalence of love fraud. The airing of Netflix’s most recent true-crime documentary, The Tinder Swindler, shone the spotlight on the prevalence...
What you need to know about taking out a student loan
If you are looking to fund your child’s tertiary education, or you are a student needing to borrow money, a student loan is the most cost-effective option. It also has more flexible repayment periods and can help a student build up a credit record....
Make money from lettuce
There is something very attractive about the idea of investing in “good” assets such as bees, macadamia nut trees and even lettuce. We know these are healthy for us to eat (plus bees are great for the environment) and we can make a decent return at...
Should you fix your interest rate?
Higher interest rates are a certainty this year, so in light of this, would it be wise to fix your interest rate now? The only prediction we can make for 2022 is higher interest rates. Globally inflation is raising its ugly head and news from the...
Why interest rates are rising
The normalisation of interest rates is set to be a major theme for global financial markets in 2022, says Carmen Nel, economist and macro strategist at Matrix Fund Managers. Normalisation of interest rates means different things in different...
Five ways to boost your income and financial knowledge
Angelique Ruzicka shares five ideas for how you can improve your financial knowledge and possibly boost your income. Boosting your income, especially during a pandemic, can feel nigh on impossible, especially when costs are going up and you’ve been...
Financial tools to keep you on track in 2022
Advances in technology mean that it’s now so easy to keep track of your finances and achieve savings goals, using smartphone apps, websites, and other online financial tools, says Angelique Ruzicka. If you’re still using Excel or some other...
What will the rand do in 2022?
Ryan Booysen, MD at DG Capital Forex, stares into his crystal ball to predict where the rand will go in 2022. The rand ended 2021 on the back foot, after the Omicron announcement and subsequent global kneejerk reaction of isolation and red-listing...
SARS gets serious over non-compliance
Jashwin Baijoo, Legal Manager, Africa Tax and Compliance at Tax Consulting SA, warns all non-compliant taxpayers that SARS could be coming for them sooner rather than later. In media statements in recent months, the South African Revenue Service...
Previous Articles
Should I use my retirement lump sum to settle my debt?
A question that I often receive is whether it's a good idea to use one's lump sum on retirement to pay off short-term debts, such as car debt or one's credit card. For example, Ntombise recently wrote to me: “I have just retired from work and expect a lump sum...
Reflecting on the year that was
Victoria Reuvers, Managing Director at Morningstar Investment Management South Africa, looks at how financial markets performed in 2021. As a runner, the change in seasons gives me time to reflect. Autumn is my favourite season, and always reminds me that change is...
Immediate access to retirement funds unlikely
Retirement reform paper calls for comment but no move on immediate access. Retirement fund members hoping to access their retirement funds for urgent financial relief will be disappointed by the retirement reform paper issued by National Treasury last month. In the...
The 2022 survival budget
As if the last two years were not tough enough, there is no silver lining awaiting us in 2022. In 2021 we absorbed further fuel-price increases, a 15% hike in electricity costs, and an interest-rate increase of 25 basis points – and this is only the start. It is...
Using critical illness insurance to supplement medical cover
Many financial advisers are using life products to supplement medical costs. While current legislation does not allow for cover like critical illness insurance to be marketed as a product to cover medical costs, for most policyholders, that is exactly what it is used...
Savvy ways to use your bonus
Many companies are cash strapped due to the impact of Covid-19, but if you are one of the lucky few who got a bonus or windfall this year, it will be tempting to spend it to celebrate surviving another tough year. However, money experts recommend being a bit cautious,...
Options if medical schemes are unaffordable
Medical schemes remain unaffordable for many working South Africans. According to Gary Allen, chief executive at Sanlam Health, an individual should not be spending more than 10% of their income on health cover. Considering that a basic hospital plan can set you back...
How the GEPF manages members’ money
The GEPF's investment mandate has consistently delivered above-inflation returns, outperforming its benchmark over five years and resulting in a financially sound fund. South Africa is one of the few countries where the state pension is guaranteed by government, and...
Video: Get financially fit for your next holiday
After living in lockdown for over 18 months, many of us just want to go on holiday. Like any major expense, if you plan for it, it doesn’t have to break the bank. Many tourist destinations and establishments are offering great specials, making it more affordable for...
Delivery scams on the rise
Cybersecurity researchers are urging consumers to be on the lookout for delivery scams following Black Friday and Cyber Monday, and in the lead-up to the holidays. This comes after Mimecast’s threat-hunting team detected malicious emails and spoofed web pages...