We asked South Africans to share their “crazy ways to save” and we got some great ideas! Nonhlanhla has a debit order into a 32-day notice account where she saves for things she needs like furniture or renovations. She doesn’t touch the money for...
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Video: Tax implications of paying your grandchild’s school fees
As a grandparent you may want to start an investment for your grandchild or help with their education costs. While this is an invaluable gift, you need to consider the tax implications. Donations over R100 000 in any tax year will attract...
Video: Credit is not for dresses
I was recently sitting in a waiting room, flicking through a magazine. They had an advert for a women’s clothing catalog and the prices were shown as monthly installments. For example, one dress was only R57 a month over 12 months or R109 per month...
Video: Your retirement income options
If you are a member of a pension fund or have a retirement annuity, two-thirds of your final retirement amount must be used to purchase a retirement income. You can select between a guaranteed life annuity or a living annuity. What is important to...
Video: Make the most of your credit card
For some people a credit card can be a financial disaster. However, if you are disciplined and pay off your card in full at the end of the month, or pre-pay at the beginning of the month, then a credit card could save on transaction fees. No...
Video: Why save if you just spend?
Have you ever found yourself trying to save money by not buying a takeaway coffee? Or possibly saving the R8 parking fee by finding street parking instead? But then you just end up blowing R1 500 on a designer shirt or R3 000 on a new pair of...
Video: Retirement annuity rules
A retirement annuity is a great, tax-efficient way to save for your retirement, but they do come with certain rules. Many people investing in retirement annuities are not fully aware of these restrictions. Firstly, you cannot access your...
Video: Watch out for property purchasing costs
I was recently speaking to a young woman who had just bought her first house. She admitted that she had been caught completely off guard by all the expenses she had to incur. She discovered that buying a house is a lot more expensive than just...
Video: Should you cash in your pension?
When changing jobs there is always the temptation to cash in your retirement fund and use it to settle your debt. The feeling of not having those debt repayments each month is hugely liberating. But does it make financial sense? Someone posed this...
Video: How much does your debt cost?
Have you ever wondered how much your debt is actually costing you? It is probably a lot more than you realise by the time you have included all the interest and fees payable. If you borrow for less than six months, the microlender can charge up to...
Previous Articles
Video: Plan for money moments and avoid debt
Most short-term debt is simply a lack of planning. So, this year, instead of taking on more credit, plan for those money moments by starting a contingency fund in a high interest savings account. If you are planning a holiday this year, create a proper budget to work...
Video: Car Insurance
The main reason we take out car insurance is so that we are covered in the case of an accident. However, if your car was not in a roadworthy condition at the time of an accident, or you were under the influence of alcohol, your policy might not pay out. So don’t drink...
Video: Buying a car
If you are considering buying a car, try save up so that you can put down a deposit. This will reduce the total cost of the car. By saving up a deposit, you could qualify for a better interest rate. A bank will view the fact that you were able to save for a deposit as...
Video: Investment returns
We invest our money because we want it to grow or give us an income. But depending on what you invest in, there are different types of investment returns. Interest income is probably the best understood: it is what you earn when you deposit money with a bank or buy a...
Video: Travel Insurance
An unavoidable expense when planning a holiday, particularly if you're going overseas, is travel insurance. If you have booked your flight using your credit card, you might have automatic travel insurance benefits. However you need to read the fine print. Free basic...
Video: Tax tips for pensioners
One of the great frustrations for pensioners is the fact that they usually pay tax on their retirement income despite having paid tax during their working lives. It is important to do proper tax planning and seek the advice of a professional as there are several ways...
Video: Should you use a lump sum to pay off debt?
One of the more frequent questions people ask is whether or not to use a lump sum to pay off debt. For example, you may have R100 000 sitting in a money market account earning 6%, providing an income of R500 per month. At the same time, you have a 48-month loan of...
Video: Give gifts of love
Before you spend money on a gift for a family member, take some time to find out what makes each member of your family feel loved. In the book The Five Love Languages authors Gary Chapman and Ross Campbell talk about the five ways that you can make someone feel loved....
Video: What’s does financial freedom mean to you?
Financial freedom means different things to different people. For some it might be about having no debt so that you start each month not paying for something you bought six months ago, which is really about living within your means. For others it is enough money saved...
Video: Be Money Aware
Our family got into the habit of keeping a household budget after our own personal financial crisis 14 years ago. I have no doubt that without budgeting every month and maintaining strict financial discipline, we would simply have got deeper and deeper into debt,...