A recent survey conducted by Groupon South Africa found that while people are desperate to go on holiday over 50% said they simply cannot afford it as holiday accommodation is too expensive and the current tough economy is holding them back. A...
Women and finances
By Samantha Matthew, Investment analyst, Glacier by Sanlam In the last few decades women have made strides in almost every facet of life – from politics, to education and the workplace - no longer content to sit in the background; we have seen...
Invest in debt clearance before retirement
Pieter van Zyl, Director at FinFive, shares his view on why debt clearance is the first step in a solid investment strategy In today’s uncertain economic environment, planning for your financial future has never been more important. As the cost of...
When should you guarantee your capital?
Structured funds that guarantee investors’ capital tend to be very popular after a market crash. Typically investors that get caught up in the market hype have full exposure to the equity markets and therefore suffer heavy losses when the markets...
A bank for children and their grandparents
Bidvest Bank’s offering is perfect both for the young and old. Grandparents often want to open a bank account for their grandchildren to encourage them to save. The problem with many existing products is that there is always a monthly bank fee that...
When small businesses thrive
My brother is my hero, for the simple reason that every day, as a small business owner, he makes a difference. Three years ago he made a massive leap of faith by leaving his employer to start his own business, today he employs six people and has a...
Investing as a 20-something
For most young people just getting out of debt is the main priority, however what if you are one of those rare “savers” who have saved a lump sum by the time you are in your early 20’s – where is the right place to invest it and how to you balance...
Creating wealth from your first holiday job
How a 22 year old accumulated R360 000 through saving and investing. A wise man once said that thrift is a form of income. What he meant was that it is what you do not spend rather than what you earn that will determine your wealth. Twenty-two...
The power of the debit order
A monthly debit order is undoubtedly one of the most powerful investment tools. It creates a savings discipline as it goes off your account before you have spent your money on consumables. But now studies show that, rand cost averaging, which...
Surviving the squeeze
What we can learn from our parents who survived the inflation beast of the 1980’s There is no doubt that our day to day living expenses are becoming increasingly more expensive as necessities like electricity, travel and food take a bigger bite out...
Previous Articles
It is never too early to talk about money
I was recently relating a story to a friend about a conversation I had with my two boys aged 7 and 11 where they had grilled me on financial matters. They wanted to know if we owed money on our house and if our cars were paid off. They wanted to know what taxes were...
Where to save in retirement
“My husband and I were not able to save towards our retirement as we would have wished, but now, at ages 73 and 74 we have both been able to find employment and have been saving as much as we can. Where can we invest with reasonably good interest and is “safe” for...
Wealth creation is about how you spend, not what you earn
This week I received two separate emails from readers who wanted to know where to invest their money. What made them stand out was that both of them had accumulated substantial money despite mediocre salaries. They had not built their wealth from winning the lotto,...
Buy a house or save for lobola?
"I have just paid off my car and now I must decide whether to buy a property or start saving for lobola and buy the house after I am married. The problem is that I cannot afford both and I need to do one of the two. I am currently renting a flat at the moment. ,"...
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 loan but I do not...
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...
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...
Should you save when you have debts to repay?
“I have a total debt if R63 000 with various credit providers. I have thought that I should start saving but not when I am under such debt. I would like to consolidate them but I am wondering with which institution. Is there one that you can recommend?” asks Andrew....
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...
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...