Financial Planning Week: 25-29 August CERTIFIED FINANCIAL PLANNER® professionals Craig Torr, Paul Rossouw, Ian Beere and Laverne Slater will be giving four free financial planning workshops in Cape Town on 26, 27 and 28 August, as part of...
How to save for a deposit
You can improve your chances of being granted a home loan or vehicle finance as well as the interest rate you are offered, if you have a deposit of 10 to 20%. With interest rates expected to increase over the next two years, banks are going to...
The risk of easy credit
“I've always been a saver and have hated debt with a passion. I applied for a store card to create a good credit rating. It soon became clear that I am not a disciplined spender so I paid off the card and closed the account. This year I bought a...
Starting a savings plan
“You always say that every cent is important so I want to start a savings plan. My pocket money is R400 a month and I want to save R200 to invest for the future. I want to know how I should invest my money,” writes Amogelang who is 22 years old...
Five reasons to sort out your finances today
"Better late than never", or so the saying goes. We say: "Better now than too late." But dealing with financial matters is something that we tend to keep putting off. Here are five reasons why you need to sort out your finances today! 1. Beat the...
Financial hangover recovery plan
If you’re battling with a financial hangover from a holiday spending spree, we have a 5-point plan to get you back on track: 1. Budget Write down an accurate and honest list of your expenses and income. Use your recent bank statements, invoices and...
Challenges facing investment clubs
The Heirs investment club is just in its early stages and it faces the same challenges as all investment clubs. “I have had this vision for some time, after seeing a show on Oprah of ordinary ladies who had become multi-millionaires by investing as...
How to maximize your first paycheque
A young person starting at their first job suddenly realizes that their first paycheque brings with it substantial power. But understanding this power, and how to wield it, is an extremely important lesson to learn. The power of money can create...
Turn your stokvel into an investment club
If you have an existing savings club with a group of friends that you want to take to a new level, creating an investment club to build wealth is a great strategy. Twelve years ago the Ya Rona club transformed itself from an informal savings club,...
Four questions to ask when investing
“I have R100 000 I want to invest. The only debt I have is vehicles and school fees. Where should I invest my money?” writes Simon. Maya replies: Where to invest depends on your personal circumstances and it is always a good idea to get good...
Previous Articles
Cutting expenses: tips to help you make every cent count
When it comes to cutting expenses, there are small changes you can make in your spending behaviour that can add up to big savings. With at least 72 per cent of South Africans cutting down expenses in their budget, you too may be wondering how best to shave off some...
How to turn your movie ticket into a retirement fund
If you cut out your monthly trip to the cinema and saved what you would have spent on your night out, you could significantly boost your retirement fund. “It is surprising what can be achieved by employing a bit of what I call movie magic'," says Esther Venter, the...
Old Mutual Savings Monitor: Reality hits
The latest Old Mutual Savings Monitor shows that South Africans are coming to terms with their new economic reality and taking control of their finances, but it’s still really tough to make ends meet. As households come under pressure from rising costs such as a...
Money management: four ways to get in financial shape
Karin Muller, head of Sanlam Growth Markets Solutions, suggests four empowering money moves you can make. South Africans are not very good when it comes to money management. In March this year, the total outstanding consumer credit balance for South Africans was a...
The importance of having an emergency fund
An emergency fund is your most important savings priority. Thanks to a collision with an uninsured driver and vet bills due to a dog with a penchant for swallowing bouncing balls, our household was faced with thousands of rands worth of unexpected expenses within one...
Young black professionals carry a heavy burden
We need to recognise the significant social burden carried by young black working South Africans in today’s society. “If you really want to understand the reality of our high unemployment levels, speak to young black professionals,” says Sinenhlanhla Nzama, Marketing...
How to save for your child’s education
Choosing to save for your child’s education ahead of your own retirement plan may be a risky strategy but it is understandable given the rising costs of education. According to the Old Mutual Savings and Investment Monitor, 54% of South Africans believe that saving...
Saving towards a 5-year goal
A reader wants advice on where to save towards buying a property. “My mother, sister and myself would like to open a savings or investment plan whereby together we would contribute R900 monthly and increasing it by R300 yearly or bi-annually for five years. We want to...
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 US edition of Total...
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...