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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
Previous Articles
Tap and pay
Absa recently launched the first fully functioning bank card that enables customers to simply tap and pay for low value items. Building on Absa’s PayPassTM technology which is behind the roll out of the My Citi transit card in Cape Town and the BRT in Johanneburg,...
The secret to money is already in your pocket
Old Mutual’s On The Money financial management programme, which targets mainly lower-end to middle income earners, helped me understand that the secret to being financially independent does not lie in earning a lot of money, but rather in learning to manage the money...
Now is not the time to blow your windfall
This month some households will experience a financial boost with either a bonus or a tax-rebate. Many South Africans have become used to having bonuses and tax refunds as an expected additional income instead of an ‘unexpected extra’, and subsequently include it in...
One in four can no longer afford medical aid
One in four people can no longer afford to pay for medical aid, a flash survey among users of online financial guide, Justmoney.co.za, has revealed. As the price of medical aid premiums rises by an inflation-busting average of 9.11%*, adding to the cash woes of many...
RSA retail savings bonds as an investment
“Are RSA retail bonds still a good choice of investment over a 3 or 5 year period. And what interest rates are the offering at this stage?” writes Peter who is 65 years old. Maya replies: If you are simply comparing interest rates to a bank deposit then the RSA retail...
RSA retail savings bonds as an investment
“Are RSA retail bonds still a good choice of investment over a 3 or 5 year period. And what interest rates are the offering at this stage?” writes Peter who is 65 years old. Maya replies: If you are simply comparing interest rates to a bank deposit then the RSA retail...
RSA retail savings bonds as an investment
“Are RSA retail bonds still a good choice of investment over a 3 or 5 year period. And what interest rates are the offering at this stage?” writes Peter who is 65 years old. Maya replies: If you are simply comparing interest rates to a bank deposit then the RSA retail...
Five tricks to reduce your home loan
Homeowners can reduce the term of their home loan and the total that they pay in with careful budgeting and clever tricks. A house is usually the biggest asset that you will buy in your lifetime, but it's made affordable by the 20-year term of monthly repayments. Most...
Getting your admin in order
While it is very important to keep track of your day to day expenses as well as your longer term financial goals, you also need to ensure that your financial administration is up to date. If you need to urgently get hold of vital paperwork do you have any idea where...
Money management tools
One thing all financially savvy people have in common is that they have a good handle on their money. They know how much they are worth, what they spend each month and where their money is going. They have savings goals and they understand their debt commitments. This...