We’ve all had a bad customer experience, but how many of us actually take it further? Under the Consumer Protection Act (CPA), you may be entitled to compensation. Consumer Goods and Services Ombud (CGSO), Adv. Neville Melville points out five...
Should I invest in FinBond?
“What do you think about some of the banks that offer high interest rates such as Finbond that guarantees their investments? Finbond has a banking license just like Capitec and it appears that they offer up to 9.5% on fixed deposits,” writes...
How the Tax Administration Act affects your tax return
Tax season is in full swing and as you race to get all your documents in order, you should take some time to reflect on the Tax Administration Act and how it affects you. SARS extended power The South African Revenue Service will now have extended...
Cutting expenses: tips to help you make every cent count
When it comes to cutting expenses, there are small changes you can make in your spending behaviour that can add up to big savings. With at least 72 per cent of South Africans cutting down expenses in their budget, you too may be wondering how best...
How to turn your movie ticket into a retirement fund
If you cut out your monthly trip to the cinema and saved what you would have spent on your night out, you could significantly boost your retirement fund. “It is surprising what can be achieved by employing a bit of what I call movie magic'," says...
Old Mutual Savings Monitor: Reality hits
The latest Old Mutual Savings Monitor shows that South Africans are coming to terms with their new economic reality and taking control of their finances, but it’s still really tough to make ends meet. As households come under pressure from rising...
Money management: four ways to get in financial shape
Karin Muller, head of Sanlam Growth Markets Solutions, suggests four empowering money moves you can make. South Africans are not very good when it comes to money management. In March this year, the total outstanding consumer credit balance for...
The importance of having an emergency fund
An emergency fund is your most important savings priority. Thanks to a collision with an uninsured driver and vet bills due to a dog with a penchant for swallowing bouncing balls, our household was faced with thousands of rands worth of unexpected...
The most popular bank accounts
In recent ThinkMoney research, Capitec, FNB and Nedbank were revealed as the leading consumer bank accounts in South Africa. This was according to nearly 7 000 bank account reviews written by Thinkmoney users, who voted Capitec, FNB and Nedbank...
Young black professionals carry a heavy burden
We need to recognise the significant social burden carried by young black working South Africans in today’s society. “If you really want to understand the reality of our high unemployment levels, speak to young black professionals,” says ...
Previous Articles
Consumer Protection Act: When can you demand a refund?
The Consumer Protection Act provides significant protection for consumers; the Act does not, however, remove the obligations of consumers when undertaking an agreement. “A small business hired a hall for an event scheduled for 7pm on a Saturday night. The event was a...
How to save for your child’s education
Choosing to save for your child’s education ahead of your own retirement plan may be a risky strategy but it is understandable given the rising costs of education. According to the Old Mutual Savings and Investment Monitor, 54% of South Africans believe that saving...
If you are a spendthrift, it may genetic
A study into what drives people’s decision-making discovered that people with a particular gene variant appear to make better financial decisions. A paper entitled Born to Spend? How nature and nurture impact spending and borrowing habits, commissioned by US-based...
Breaking the myths around buying a new car
Leave the buying of new cars to people who don’t understand maths, or to those for whom status is worth more than building wealth In the book The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, authors Thomas J Stanley and William D Danko studied...
The best gift to give your children
Think differently about what makes a great Mom The truest thing ever said about becoming a parent was by author Elizabeth Stone who said deciding to have a child was to “decide forever to have your heart go walking around outside your body." Most parents make supreme...
Saving towards a 5-year goal
A reader wants advice on where to save towards buying a property. “My mother, sister and myself would like to open a savings or investment plan whereby together we would contribute R900 monthly and increasing it by R300 yearly or bi-annually for five years. We want to...
Capitec Bank is South Africa’s fourth largest bank for main accounts
AMPS results show Capitec has pushed out Nedbank to become the fourth largest bank in terms of the number of people using Capitec for their main account. According to a press release issued by Capitec today, the bank has overtaken Nedbank as South Africa’s fourth...
Getting out of debt is about a change in attitude
“In 2011 after getting advice through City Press I managed to pay off all my debt. I have since gotten married and we bought a house and a car. Now we are in debt and a financial mess. I have two credit cards totaling R27 000, an overdraft of R21 100 plus a revolving...
Make April 27th your Debt Freedom Day
The 27th of April is Freedom Day in South Africa, marking the annual celebration of South Africa's first non-racial democratic elections in 1994. Since political freedom, South Africans have striven to correct the wrongs of the past. South Africa currently has 19.69...
Banking Ombud recovers over R16million for customers
The latest annual report from the Ombudsman for Banking Services (OBS) which was released recently showed that of the 4450 complaints received, 1753 cases were found in favour of the customer and a total of R16.4 million was paid back to aggrieved banking customers....