Max writes: I was called by a company who promised to send me a discount card that I can use for airtime, electricity and groceries. I asked for a written offer so that I could check their address and contact details. Soon afterwards an amount of...
Is now a good time to buy a house?
Rebecca writes: I am a 36-year-old professional and single mother of two. I had planned that this would be the year that I would buy my own modest home. I have been listening to financial experts on TV saying that first-time home buyers must delay...
How to cut down on your data usage
I’m a lot better at financial management than managing my cellphone data, but the reality is that data is money and for most of us, our smartphones are like a dripping tap, using data we are not even aware of. I received some useful tips on...
The rising cost of education
A recent study by Sanlam done amongst mothers with children aged between 3 and 15 shows that some parents go as far as holding down two jobs to put their children through private schooling, which they perceive to be the best legacy they can give...
The impact of tax increases on your R1000
By Ricardo Teixeira, COO of BDO Wealth Advisers With South Africa precariously placed on the cusp of a credit rating downgrade, being able to demonstrate to the global credit rating agencies that ‘SA Incorporated’ is solvent and growing has been a...
Time is ticking on disclosing your foreign assets
By Kezia Talbot, Legal Advisor at BDO Wealth Advisers For those taxpayers with undisclosed foreign assets, time is running out. With the introduction of FATCA and a global standard for the automatic exchange of information between countries’ tax...
Budget 2016: What do the Capital Gains Tax changes mean?
By Hedley Lamarque, Certified Financial Planner at BDO Wealth Advisers If you have been planning on cashing in an investment (such as shares or unit trusts) in the short term, then it would be better to do it before the end of February 2016, due to...
Why your bills are rising faster than inflation
Whenever Statistics South Africa (StatsSA) releases the consumer price index (inflation) figure, I always wonder whose basket of goods they are using, because I can assure you that my living costs are increasing well above the 5.2% CPI recorded for...
Why buy a TV when you can rent it?
There is much to be said for renting when it comes to electronics, appliances and even furniture. When I was young, everyone rented a TV, most of them from Teljoy. In those days, TVs were simply unaffordable and credit was not as easily available...
Social media makes you vulnerable to cybercrime
According to statistics from antivirus software provider McAfee’s Global Cost of Cybercrime report, cybercrime costs the South African economy about R5.8 billion a year. In light of Safer Internet Day celebrated on 9 February 2016, Candice...
Previous Articles
The cost of tying the knot
How you manage your wedding budget will have a serious impact on your financial future. https://www.youtube.com/watch?v=uJu_uQ68CHE&feature=youtu.be – Video supplied by BrightRock Welcome to the Change Exchange, where we're discussing rings and cha-ching! One of the...
Attractive interest rates for medium-term savings
RSA Retail Savings Bonds are an attractive option for savers. For those who are looking to save for the medium term and don’t plan on touching the money for at least two years, the RSA Retail Savings Bond, offered by National Treasury, is an attractive option. This...
Changes to how corrections of tax assessments are handled
By David Warneke, Director and Head of Tax Technical at BDO South Africa The Tax Administration Laws Amendment Act of 2015, which was promulgated on 8 January 2016, states that in future SARS will not be permitted to entertain so-called ‘requests for correction’ of...
Is cash appropriate for tax-free savings?
Hlakanyane asks: I am a 52-year-old man and currently contributing R2 500 per month in a tax-free savings account with a bank. This is invested in cash and standing at R15 000 thus far. Is it better to leave it in the bank, to invest with an insurance company or go...
Saving for your child’s education
The recent student protests have highlighted the high cost of tertiary education. For many, the cost of registration alone is enough to shut the door of opportunity. The South African Institution of Race Relations has reported that only 5% of South African families...
How to talk to your child about money
In episode 14 of the Change in your Pocket series, we examine how best to go about discussing money with young children. http://www.youtube.com/watch?v=uoBHYWeKvGY&feature=youtu.be – Video supplied by BrightRock Welcome to The Change Exchange where we're exploring...
How to manage savings as a contract worker
Evans writes: I am 30 years old and work as a contract worker, which means my salary is not fixed and ranges from zero some months to R8 000 in other months. I currently contribute R750 a month towards my retirement annuity and I also contribute R500 a month to a...
The cost of a baby
Chantel has been married for almost two years and was caught slightly off-guard recently when she realised she was pregnant with her first baby. “Even though my husband and I are both extremely good at saving, we didn’t have a specific budget for a baby and didn’t...
How trying to build a credit record led to a debt trap
Don't fall into the trap of taking on unnecessary consumption debt in a misguided attempt to build up your credit record. Far too many 20- and 30-year-olds are struggling to meet monthly debt repayments, impacting their ability to break the dependency cycle and create...
It takes discipline to reach your goals
I recently required surgery to my ankle after sustaining a serious injury quite a while back. Thanks to this ongoing ankle saga, if I ever want to be able to hike and run again I am going to have to commit to some serious rehabilitation work which involves spending 20...