Your favourite brand of toothpaste, chocolate, chips, rice or tomato sauce may be costing you the same, but are you getting the same amount of product for your money? As consumers watch their pennies some manufacturers are shrinking the amount of...
What people are buying online this holiday
If you are looking for gift ideas here are some interesting stats from kalahari.com on what people are buying this festive season. Also a big increase in the number of people shopping online. Kalahari.com expects online sales growth of up to 30%...
Are we shopping ’til we drop?
This week I was in Johannesburg and was amazed at how busy the shops were. I was told, although I have not confirmed this, that when fashion store Zara opened in Sandton City recently it did a turnover of R2 million in one day. Admittedly Sandton...
Get free advice
The Financial Planning Institute of Southern Africa is hosting a Consumer Clinic, supported by the South African Savings Institute (SASI) as part of their Festive Seasons Campaign initiative. They will provide you with an opportunity to get free...
Tips to get your finances in order for 2012
Every year the same tips circulate about how to get your finances in order, but every year they are worth reading. Even if you just follow one tip, it is a step in the right direction. John Manyike, head of financial education at Old Mutual...
Chip and PIN not as safe as you think
Chip and PIN cards were introduced in order to reduce the level of fraud on credit cards. The argument is that without the PIN your card cannot be used. However many bank customers have found that their cards are still being used fraudulently and...
EasyPay fights back
Next week an estimated 180 000 Easy Pay customers will receive an email offering money back rewards on all their EasyPay transactions. This is part of EasyPay’s strategy to restore credibility and regain customers’ confidence after the site was hit...
Absa taking on EasyPay?
Last week I wrote an article for Mail&Guardian on how EasyPay is fighting back after banks prevented their customers from using their credit cards to do transactions via EasyPay (see Easy Pay fights back). This was after a crime syndicate used...
10 ways to avoid financial disaster this festive season
The head of consumer education at one of the banks was blowing off some steam earlier this week as she lamented about how people never plan for the festive season. “This is an annual event, we know we will be spending money, this does not come as a...
Buy a car or pay off the bond?
“I am 29 years old and I have managed to save R100 000 with which I was planning to buy a new car (cash). However I realised that the car I am using is still in a good condition and is paid up and I can still use it for 2 more years. I have a home...
Previous Articles
How to save R150 000 in seven years
"I am 23 years old and I earn R7000 a month. I want know where and how much to save so that I can buy a car worth R150 000 by the time I am 30 years old. I am thinking of buying a house too but I am tired of borrowing a car. At least my parents are still providing a...
Can foreigners apply for loans?
“I am a foreigner with a work permit and a stable income. Can I still apply for a personal loan without a South African ID?” writes Taurai. Maya replies: It seems this differs between banks. Standard Bank may be a good option while FNB is a flat no. Standard Bank...
Retrenchment benefits increase
Those facing retrenchment or retirement can look forward to better tax breaks from this year, with retrenchment or retirement tax-free payments increasing from R30,000 in a lifetime to R315,000, effective from the 2012 tax year. This is according the Ron Warren,...
How your piggy bank savings can pay for your festive spending
When my husband opened his FNB account at the end of last year he opted for a "Bank Your Change" savings account which is linked to his transactional account. Each time he uses his bank card, the transaction is rounded to the nearest R5 and the difference is credited...
Why your inflation rate is higher than the official CPI
Whenever the inflation figures are released, consumers must wonder what basket of goods StatsSA could possibly be using because one thing is for sure, our cost of living is going up far quicker than the official 5.3%. As an example, just this week we received notice...
Six ways to cut R1000 off your budget
So you think you can't find money to save? Here are six savings tips which could save you over R1 000 a month. Shop online We cut about R500 to R800 a month off our grocery bill by shopping online. This forces you to buy according to your list as it prevents those...
How to calculate if you are on track for retirement
The Crawford Measure has been created by Dave Crawford, a financial educator. It is a simple spreadsheet that helps to calculate whether or not your retirement savings are adequate. It starts with your current living standard and then compares that with the amount you...
The difference between a money-market and unit trust account
“What's the difference between a money market account and a unit-trust money-market account?” asks Roderick Maya replies: A money-market account offered by a bank is simply a bank account with a more aggressive interest rate. It's an investment account rather than a...
Am I saving enough?
“I am a 31 year old dedicated saver and I have two main savings besides my pension and I want to know if they are the right investments. I've been increasing these savings by 10% each year and putting some into my bond. Do you think this will give me the right returns...
How do I find the cash to save?
The bottom line is that saving is very difficult – if it was easy our savings rate would be far higher. Every age group has its specific expenses. Someone in their early twenties is most likely paying off student loans, possibly have parents to support and have...