Absa has announced the closure of its 25-year-old Absa Money Market Fund. Saleh Jamodien, Research & Investment Analyst at Glacier by Sanlam, gives a comprehensive overview of what a money market fund is, and suggests some options for investors...
Can students truly bank for free?
Angelique Ruzicka takes a look at the bank account offerings for students, as banks try to entice a younger crowd with reduced or zero fees in the hope of bagging a client for life. In March, Absa ditched fees for all of its student cheque...
Listen: Tax tips for freelancers and side hustlers
Tax is one of the most important money matters, especially when you work for yourself or have a side hustle that earns you some extra cash. Navigating the tax maze when you don’t just have an IRP5 from an employer can be quite challenging. In this...
Inside a cryptocurrency scam
Social media networks are being used to lure people into a cryptocurrency scam. A sophisticated social media network is being used to con South Africans by claiming to generate huge returns through trading. The network is made up of 300 fake...
Working from home? You can claim from SARS
Elani van der Westhuizen, senior tax technical at TaxTim, explains what you can claim from SARS if you've been working from home. There's some good news for you if you’ve been working from home for the past year. You can claim a tax deduction if...
Video: Set goals for money success
The key to achieving our money goals is to use psychology to set us up for success. When it comes to our money goals, behavioural economist Erik Vermeulen says we need to set specific long-term goals, but also have built-in intermediate success...
Anger over high-cost investment products
A blame-game is starting with complaints about overpaid financial advisers and expensive product options. Readers have provided numerous examples of high-cost investment products sold by advisers working for large insurance firms. Clients are angry...
Finding a more equitable credit model
The Save2Buy model is a hybrid between a lay-by and more traditional credit. In a world where credit has become a way of life, is it possible to find a system that allows someone to purchase an item and have use of it whilst paying it off, but...
Can you bag a cheap deal on an overseas holiday?
Taking an overseas holiday is still possible but this can come at great risk to travellers’ pockets, finds Angelique Ruzicka. Differing social distancing rules and travel bans imposed by countries and airlines have done much to disrupt the global...
Listen: Investigating crypto scams
In this My Money, My Lifestyle podcast we delve into the world of crypto scams which seem to be mushrooming everywhere, despite repeated warnings from our authorities. How do these crypto scams work? How do people get lured into parting with their...
Previous Articles
Video: Understand your electricity bill
The cost of electricity will increase by 15% in April. That is triple the rate of inflation which means a bigger portion of our budget will go to paying for electricity. It is worth taking the time to understand how your electricity is charged for and to find ways to...
When does it make sense to have a travel allowance?
If you are required to travel for work there are several ways to claim for this expense. You can receive a travel allowance or be provided with a company car. In the case of a travel allowance, the employer would normally pay a set amount, for example R5 000 a month....
FSCA issues crypto health warning
The FSCA wants to warn the public that if something goes wrong with your crypto investment, you are not likely to get your money back and will have no recourse against anyone. The Financial Sector Conduct Authority (FSCA) has noted with concern the increasing volume...
Video: Tax-free savings
Do you know how much tax you save by investing in a tax-free savings account? Sanlam Investments did the maths and found that you can save hundreds of thousands of rands. So why pay tax when you can make money? To recap: you can invest up to R36 000 a year into a...
In search of a low-cost credit card
For the last 14 years I have been the happy owner of a Virgin Money credit card. The card has zero annual fees which made it a perfect credit card to hold for emergencies rather than using for day-to-day spending. In my case I also used it for booking travel such as...
Video: How to grow your side hustle
In any crisis there is opportunity. Lockdown created new market opportunities as customers became open to trying new brands through e-commerce. Research has already identified that post lockdown, people are less likely to return to major shopping centres, preferring...
Listen: Talking to your children about money
How do you teach your children to manage money? It starts at home, says 13-year-old Alidzulwi Tshikosi, author of Not being authentic can be costly - a warning tale of a young man who uses credit to live beyond his means and which ultimately destroys his...
Unmarried couples and death – how to protect yourself and your partner
David Knott of Private Client Trust explains how unmarried couples can protect themselves in the unfortunate event that one partner dies. Many unmarried couples mistakenly believe that they are protected as “common law” spouses. However, South African law does not...
Don’t ignore your credit providers
The Credit Ombud wants to remind consumers that there are ways to ease the woes that come with being unemployed while having debt, and you shouldn’t just ignore your credit providers. If you’ve just lost your job or have had your salary reduced due to the Covid-19...
Supporting your retired parents
Many retirees have not saved enough to meet their financial needs, leaving children with the burden of supporting their retired parents. A retirement survey by Sanlam found that 51% of retirees cannot make ends meet, and one-third do not have enough money to cover...