It is very difficult for a small business owner to try and compare banking products and understand which bank’s products best meet his needs. So we gave the banks a real example to see who could offer this entrepreneur the best banking package....
Why money matters are gender biased
As a panelist at the global Financial Literacy and Education Summit, to be held in Chicago on April 17, I will be joining other personal finance journalists from around the world to provide a perspective on women and financial literacy. This has...
Rising costs of car ownership
With steep increases in the price of petrol, the running costs of your car could be as much as your monthly instalment. Last month South African motorists faced the largest ever petrol price increase with the cost of petrol increasing by a massive...
Putting words into practice
Putting a personal financial plan into action After writing my review on the South African version of Dave Ramsey’s Total Money Makeover, I received an email from a reader who shared his experience of getting his finances in order after reading the...
New consumer ombudsman launched
The Consumer Goods Council of South Africa (CGCSA) recently launched the Consumer Goods and Services Ombud (CGSO), ahead of World Consumer Rights day on 15 March. The Consumer Goods Council represents 11 000 companies in the retail, wholesale and...
Cellphone companies need to re-examine their policies around fraud
A new form of crime around stolen SIM cards can cost a customer up to R2 800 an hour, but some cellphone companies don't seem to care. At around 5.30pm one evening Jenny Hibbert’s cellphone was stolen from her handbag at a restaurant. Only noticing...
What you need to know before turning 40
What most 40 year-olds discover is that the choices they made ten years ago are now limiting their options when it comes to retirement, risk and medical cover. When you are in your 20s, it is hard to imagine what it would be like to be 60 years...
Consumer Commission gone AWOL
“How can I get hold of the National Consumer Commission? Twice I called and both times was put on eternal hold. The last time I called it went straight to a voicemail facility. The fax line is not accepting faxes and the email address on the...
Profile of a reckless lending case
Without a proper record of credit, can a provider be responsible for reckless lending asks Maya Fisher-French How does someone get into the position where their debt levels reach 217% of their income and who is responsible? While a desperate...
Energy: new source of government revenue
Hemmed in from raising value-added tax (VAT), personal income and company taxes, Finance Minister Pravin Gordhan played his trump card in introducing carbon tax to the South African fiscus, Rhodes Business School tax professor Matthew Lester said...
Previous Articles
Receiving a death benefit
A reader recently wrote to City Press to question how his late wife’s pension benefit had been distributed and whether it was in accordance with the law. It raises some interesting points about the provision of the law and the role of pension fund trustees. ...
SARS to make money from penalties
Tax evaders could pay up to 200% of their taxable income in penalties warns Willem Oberholzer, tax partner at Grant Thornton Pretoria We are not expecting any huge surprises in terms of further taxation from this year’s Budget Speech; what we are expecting, however,...
Beware of online fraudsters
How one victim lost R11 000 to elaborate e-commerce fraud A City Press reader was recently scammed of R11 000 when he bought goods through a website selling electronic goods. His experience highlights the need to be cautious about who you are dealing with on the...
Pastel My Money launches money management tool
Pastel My Money is the latest online money management tool to hit South Africa. Following on from sites such as www.moneysmart.co.za, www.22seven.com and Nedbank’s My Financial Life, Pastel My Money is a free online money tool that tracks your finances. Its online...
Minister Gordhan has a fan page
Pointers for Pravin Not everyone is going to be a fan of Finance Minister Pravin Gordhan after he announces the budget on 27 February. This year will be a tight budget with less money to go around and undoubtedly higher taxes whether directly through income tax or...
Who controls your money decisions
Modern day philosopher and writer Alain de Botton wrote a provocative article in The Wall Street Journal entitled Why most men aren’t man enough to handle web porn. While this title may seem completely irrelevant to personal finance (apart from the amount of money...
Procrastination: the thief of money
This article is an extract from the Liberty customer newsletter on why we procrastinate and the impact it has on our finances The beginning of the New Year always brings with it those inevitable New Year's resolutions, and if there is one New Year's resolution worth...
The cost of waiting to save
One of the more common questions that readers ask is “which fund should I invest in”. They often provide a list of funds and hope that some crystal gazing will allow them to select that fund which will outperform all others. However, your future wealth will be...
Where to keep emergency funds?
“As part of one’s personal financial plan, I believe in having 3-6 months living expenses saved up and easily accessible in case of an emergency. “My wife and I have saved extra funds into our mortgage bond and estimate that the value of the additional capital we have...
Group saving bank accounts
If you form an investment club you will still need to have a bank account for the group in order to collect money and pay out withdrawals. Speak to your bank about the best account for your needs. These bank accounts are specifically aimed at savings clubs: Absa Club...