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...
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...
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...
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...
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...
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 ...
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...
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...
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...
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...
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 wealth will be...
How two groups of professional women have used an investment club to build their own wealth If you have an existing savings club with a group of friends that you want to take to a new level, starting an investment club to build wealth is a great strategy. This week we...
“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 additional capital we have...
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 savings clubs: Absa Club...
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...
If you are new to investing on the JSE and are looking for a good way to get your feet wet or you feel more comfortable learning about investing with others than on your, you can start a share club where you research companies and to discuss investment topics. When...
“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...
“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...
“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...
“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...