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...
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...
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...
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...
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...
Listen: Are you in a financially abusive relationship?
Are you the victim of financial abuse or are you perhaps unwittingly the abuser? And how would you even know? In this podcast, we discuss the very sensitive topic of financial abuse: how money is often used to control people in relationships. Maya...
Don’t be caught out by delayed premium increases
As medical schemes announce their pricing and benefits for next year, most have delayed their premium increases until later in 2022. The ability of medical schemes not to push through these increases in January is due to the significant surpluses...
Above-inflation returns for the GEPF
The Government Employees Pension Fund (GEPF) saw a significant 27.5% growth in its portfolio over the most recent financial year, bringing the total value of the fund to nearly R2.1 trillion. According to the annual financial results for the year...
Government finances as a household budget
Government faces the same tough choices as South African households when it comes to its budget. Last week our new finance minister Enoch Godongwana laid out the plans for government’s spending over the next three years. The medium-term budget lays...
Listen: Is cash now trash?
Despite the recent rate hike, interest rates since the beginning of the pandemic have fallen by around 30%. This is great news if you’re borrowing money, but it is pretty dire for anyone investing in cash or relying on income from cash investments....
Previous Articles
Your personal information could be for sale
Last month, the personal information of millions of South Africans was placed on messaging app Telegram for sale to the highest bidders. According to the Information Regulator, the database containing consumers’ personal information was downloaded over 100 times...
Government withdraws proposal to impose exit tax on retirement interests
Jean du Toit, Head of Tax Technical at Tax Consulting SA, explains why Government had no choice but to backtrack on the proposed exit tax on retirement interests. Expatriates and those with plans to emigrate will be relieved to learn that the proposal to impose an...
Video: Five things that derail your wealth
The difference between someone who is financially secure and someone who is not, often has more to do with avoiding wealth destruction traps than earning a bigger salary or having a windfall. If you want to be financially free, you need to avoid these...
Is a living will legally valid and enforceable?
Juan Buys, Fiduciary Specialist at PPS Fiduciary Services, explains that a living will may not always be enforceable. Sometimes family members face a difficult situation when a decision has to be made about a loved one in circumstances in which they are not able to...
Listen: How to bootstrap a business with R6 500
In this podcast Maya (@mayaonmoney) speaks to Mantsha Pheeha, a business strategist at Talent Unleashed, about how to bootstrap your startup by creating a pilot project. Mantsha worked with Nocawe, winner of this year’s Absa City Press Money Makeover Challenge, to...
Beware the pitfalls of bequeathing property
When bequeathing property, make sure you have done your estate planning properly. For most middle-class families, the primary residence is the most valuable asset in their estate, as retirement funds fall outside of one’s estate. It is not uncommon for parents to...
Retirement diversification in action
Rocco Carr, Business Development Manager at Glacier by Sanlam, explains how we should be thinking about different layers when it comes to retirement diversification. What does diversification mean? The dictionary meaning of diversification comes down to the process of...
What happens to your GEPF pension after five years?
As a financial journalist I often come across misinformation spread by unscrupulous financial advisers when it comes to the Government Employees Pension Fund. Most of these untruths relate to members’ funds at retirement, as the financial advisers are hoping for the...
Bitcoin: navigating tax and exchange control
Regulation of bitcoin and other crypto assets is inevitable, but it makes investing in this new asset class safer. A few years ago, I was sitting on a panel discussion when the topic of bitcoin was raised. The appeal of bitcoin for many people was that it was...
Tips for filing a successful insurance claim
Filing an insurance claim can feel like a complicated and confusing undertaking. Karabo Kopeka, Head of Claims at MiWay Insurance, provides tips on how to avoid some common pitfalls. Claiming from your insurance can often be a challenging task, especially following a...