Watch Episode 3 of the Change In your Pocket series for advice on setting up an emergency fund. https://youtu.be/zreJg6744II – Video supplied by BrightRock Welcome to The Change Exchange, where we're helping you find ways to make the most of out of...
If you've been putting off opening a tax-free savings account, here's a trick to help you get going. Last week I completed the herculean task of opening tax-free savings accounts for my kids and myself. I have had the forms ready to fill out since...
Open up your bank statement and calculate how much of your monthly salary goes to repaying debt. Imagine if, apart from your mortgage, you had no debt repayments – think of all that money now available for savings. The reality is that we have...
Using your child’s tax-free savings account is not necessarily the best vehicle for their education fund. Since the launch of the tax-free savings accounts (TFSAs) there have been suggestions that this would be an ideal way to save for your child’s...
People often argue that the reason they don’t have any savings, or why they cannot pay off their debts, is because they simply don’t have enough money. Yet little do we realise how much our bad habits are really costing us. The real cost of smoking...
While many professional women earn impressive salaries and contribute towards corporate pension requirements, Citadel Advisory Partner Kirsten Smit says that it's important to build wealth outside your job. Many women believe they can only become...
According to the National Development Plan (NDP), the South African economy needs to grow by 5.4% or more to create enough jobs to redress inequality and resolve the country's stubbornly high unemployment rate. In order to reach and sustain this...
The fuel price increase on 1 April was unfortunately no April Fool’s joke. Motorists are now paying an extra R1.62 per litre of petrol, which means that if you fill up your 50-litre tank twice a month, you're now spending an additional R160 per...
South Africans are now able to invest up to R30 000 a year in tax-free savings accounts (TFSAs). The aim of these savings accounts is to encourage South Africans to save for medium-term goals and emergency funding, reducing our reliance on debt and...
Companies have been racing to capitalise on the tax-free savings accounts. We sum up what products have come to market so far. Financial product providers have by and large brought out two types of tax-free savings accounts (TFSAs): a basic bank...
Tax-free savings accounts (TFSAs) get the go-ahead. From 1 March 2015 South Africans will be allowed to invest up to R30 000 a year in tax-free savings accounts (TFSA). (*Update: this amount was increased to R33 000 per year on 1 March 2017 and to R36 000 per year on...
South Africa’s declining household savings rate has been of national concern for some time now – in fact this burning issue has found its way into the annual budget speech year after year. But while initiatives have been implemented to try alleviate the problem – such...
In today's Internet age, keeping yourself on track financially has never been easier. There are a range of websites, smartphone apps and online financial tools to help you along the way. Track expenses and create a budget Find a way to track your daily expenses so you...
Steven Nathan, CEO of 10X Investments, tells us why saving more and spending less is one New Year's resolution we should all be sticking to. Research suggests that most people have abandoned their New Year's resolutions by the beginning of February. Spending less and...
By Ferdi Booysen, Head of Strategic Relationships at Old Mutual Wealth The higher interest-rate cycle begs the question: is it currently better to use your investable funds to pay off your mortgage or to add to your retirement savings? Recent interest-rate hikes – and...
One of my greatest frustrations with the financial industry is the lack of simple, cost effective, flexible savings products for people who want to start saving, but have only R100 to R200 per month to put away. While R200 may not seem like a lot of money, just by...
When I was in grade one at a government school in 1984, my school fees for the year were 25 cents. I have the receipt to prove it! When my son started grade one last year though, we had to fork out just under R30 000 for the year. Ouch. We’re looking at a cost of...
by Kagisho Mahura, investment and retirement planning specialist at Gradidge-Mahura Investments. The sandwich generation refers to those people who find themselves supporting both their parents and kids financially. The growth of the sandwich generation is an...
Satrix has released a new range of funds which has reduced the cost of investing Since Sanlam bought out Satrix two years ago it has been implementing some interesting changes which have improved the offering to investors wanting to access low-cost passive index...
Ensure that the “sandwich generation” is only a one-generation phenomenon, writes Kagisho Mahura In 1974, sociologist Dr Edward Banfield of Harvard University wrote a book entitled The Unheavenly City. In it he described one of the most profound studies on success and...