If you have an investment policy or product, the adviser who sold you that product is most likely receiving ongoing advice fees or commission. These fees are deducted from your investment returns, and you should be receiving ongoing service from...
Listen: The Dollar Life Plan: Diversifying with dollar-based life cover
While most of us are aware of the importance of diversifying our investments globally, we don’t often think about diversifying our risk cover. Taking out life cover in US dollars is one way to leave a legacy in a hard currency that should maintain...
How does the interest-free period on your credit card work?
Most credit card companies try and hook you by saying that they give you 55 days interest free on your purchases. In fact, most credit card holders don’t get any interest-free period on their credit cards. This is because if you don’t pay your card...
Investment opportunities punted via social media are scams
Reputable and regulated financial services providers will never sell investments via a WhatsApp group, Telegram, a social media platform, email, or an unsolicited random phone call, so you can be sure that investment opportunities punted via social...
Make your first paycheque count
If you can start to manage your money responsibly as a student or new job entrant, you will be able to start to build long-term wealth. The key to wealth is not how much you earn, but how much you spend. Brenda wanted some advice on how to manage...
Listen: The importance of budgeting
In this second episode of the Santam Insure Your Future Money Bootcamp, I’m again joined by Mapalo Makhu as we dive into the topic of budgeting, and how taking control of your day-to-day spending can significantly reduce financial anxiety. We hear...
DIY investing: pros and cons
When you build and manage your investment portfolio yourself, this is often called DIY (do-it-yourself) investing. In this article, we explore the pros and cons of DIY investing and how to get the most out of your strategy. South Africans are...
Listen: Unlocking financial freedom
Introducing the Santam Insure Your Future Money Bootcamp podcast series. Are you ready to take control of your financial future? The Santam Insure Your Future Money Bootcamp podcast series is here to guide you through a transformative journey that...
Tax debt? Take action now!
SARS is upping its debt-collection game, so if you’ve got tax debt, now is the time to do something about it. If you are in debt with SARS or have received a notice of final demand, there’s no need for panic, says Thomas Lobban, Tax Legal...
Deposit insurance offers protection for retail investors
The South African Reserve Bank has launched the Corporation for Deposit Insurance (CODI) which manages the country’s new Deposit Insurance Fund (DIF). This is a dedicated insurance fund that provides protection for bank deposits of up to R100 000...
Previous Articles
Listen: How to bounce back from divorce
In this episode of the My Money My Lifestyle podcast, host Maya Fisher-French delves into the financial complexities of divorce with financial planner Kirsten Smit of Citadel Investments. They explore the alarming rise in divorces, particularly in the post-Covid era...
Is your mental health harming your finances?
The prevalence of mental health disorders in South Africa is among the highest in the world. This understandably affects the way we manage our money. South Africans have a unique set of circumstances that makes many of us particularly vulnerable to mental health...
Listen: Are we spending too much on our families?
In this episode of the My Money, My Lifestyle podcast, I am joined by financial adviser Munya Shumba to address a critical yet often-neglected aspect of financial planning: prioritising your own financial future rather than solely focusing on your family's needs. We...
How to navigate the money choices we must make
How do we live today without being careless about tomorrow, asks Pieter Albertyn, Head of Product Solutions at Momentum Investo. In his State of the Nation Address, President Cyril Ramaphosa used the example of a child called Tintswalo to illustrate how far our...
How your employer can offer financial assistance in tough times
Many South Africans are experiencing severe financial challenges, and some turn to unregistered lenders for quick cash solutions. However, if you’re employed, your company might be able to provide some financial assistance. We all know that South Africans are...
Complaining made easier
The creation of the National Financial Ombud Scheme will make it much easier for consumers of various financial products to find redress. The financial industry has mechanisms for dispute resolution that consumers are often not aware of. These are the financial sector...
Listen: Navigating the financial waters as a young graduate
Congratulations! You've tossed your graduation cap, landed your first job, and are ready to dive into the real world. But with the excitement of your first paycheque comes the daunting realisation of adult responsibilities: rent, groceries, car payments – and let’s...
Five stock market myths keeping you from building wealth
Wendy Myers, Head of Securities at PSG Wealth, looks at some myths that are prevalent among South Africans when it comes to the idea of investing in the stock market. When it comes to the world of investing, many people have no idea where to start, how to invest, and...
TikTok: a cesspool of financial scams
While there is certainly good financial education content to be found on social media, there are also numerous scams and unethical practices, and TikTok is no exception. In fact, the massive increase in TikTok’s popularity has seen a massive increase in financial...
No change to 2024 income tax tables, but watch out for bracket creep
Beatrie Gouws, Tax Director at BDO, and David Warneke, Assoc. Prof. and Tax Partner at BDO, share their insight into the implications of the 2024 budget for taxpayers across all economic tiers. South Africans breathed a collective sigh of relief as the 2024 budget...