A 23-year-old wants to do the right thing with her money and not end up a casualty of ‘bad debt’.
Tag - interest rate
Even a 0.25% reduction in your mortgage rate could save you tens of thousands of rands, but how open is your bank to the discussion?
Despite the JSE All Share Index's high price-to-earnings (PE) ratio of 23, there are sectors that are still trading at relatively attractive valuations, especially those focused on the local economy.
Some analysts claim that first-time home buyers should delay buying due to the current economy. But the decision to buy a house should start with whether or not you can afford it, in a rising interest rate environment.
As interest rates increase, many homeowners are wondering whether or not to fix their mortgage repayments to provide more certainty around what their repayments will be in the future.
With the interest rate rising slowly but steadily, consumers should review their finances to understand the impact of future rates on their budgets.
Last week, consumers received good news from the South African Reserve Bank (SARB) that the repo interest rate would be kept at 5.75%, which means that the retail rate at which consumers are offered credit, would stay at 9.25%. Absa provided this useful infographic Click on the infographic below for the full-size graphic.
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 predictions that these are to rise further – make the returns you earn on...
By Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets, at Standard Bank It is natural to think about the joys of starting the New Year in your dream car when your bank account is filled with an end-of-year bonus. However, is it advisable to buy a brand new or pre-owned car during the festive season? The answer is yes – as long as...
Last month we wrote about the growing global phenomenon of peer-to-peer social lending, which links borrowers and lenders directly, bypassing banks and their fees. RainFin, which was the first peer-to-peer online lending platform in South Africa, announced recently that after being in the market for two years they are now listing around 18 new...