I was recently interviewed by a magazine who asked if it is possible for a family today to live debt-free. My reply was “absolutely”. I believe that because of the proliferation of credit cards and easy access to credit, we have forgotten how to...
Getting out of debt is about a change in attitude
“In 2011 after getting advice through City Press I managed to pay off all my debt. I have since gotten married and we bought a house and a car. Now we are in debt and a financial mess. I have two credit cards totaling R27 000, an overdraft of R21...
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...
Starting a property portfolio
Isaac shows how with discipline and a goal it is possible to build up a portfolio of properties on a limited salary that will one day pay you an income. It is important however to make sure that you do not over extend yourself and risk losing your...
Budgeting for the self-employed
One of the questions I am often asked by self-employed people is how to budget. Most self-employed people tend to live in a world of feast or famine. When times are tough they skimp, beg and borrow, but when times are good they spend like the good...
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...
Is your favourite brand shrinking?
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...
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...
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...
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...
Previous Articles
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...
Can you live without debt?
I was recently asked whether or not it was possible for a family of four to live without short-term debt. I think the question needs to be reversed. We need to be asking why we believe we need debt in order to live. According to the Old Mutual Savings Monitor, 65% of...
The one-hour budget
What a budget really means is spending less than you earn and saving the balance. Most of us think we know the state of our finances, but right now can you say exactly how much do you spend each month? But it would take less than an hour to draw up a budget – this is...
Calculate how much energy your electricity appliances use
Knowing exactly how much electricity you use is essential if you are going to introduce an effective power saving campaign at home and save money. Your electricity bill will give you the details on what your tariff is. According to De Wet Zwarts of Solar...
How to reduce your monthly car expenses
South African consumers may be buying cars with alacrity, but the cost of running a car isn’t insignificant. With this in mind, Chris de Kock, executive head of sales and marketing at WesBank, has come up with some tips to help us all save on our monthly car expenses....
Five tips on budgeting to avoid debt
Before 2007, we had little protection against unscrupulous lenders who took advantage of those of us ignorant about budgets. If we didn't have healthy spending habits, we were often taken for a ride. But the National Credit Act (NCA) has since put a stop to reckless...