The budget proposals for 2016 are the most difficult to face in decades. South Africa is between the proverbial rock and hard place. High unemployment and low growth. Our economy is in stagflation and this presents very little room to manoeuvre. Our Minister of...
The global markets are in turmoil. Growth is slow, emerging markets face a currency crisis, stock markets are trading at jittery levels. Is this the time to buy or sell? Mr Miyagi, the wise old man in the movie, “The Karate Kid”, started Daniel out on his training by...
Generally speaking, when you make a financial decision the outcome is only realised some time in the future.Your advice should not be taken in isolation and as a once off decision. You need to keep in touch with the advice given by reviewing frequently to ensure it is...
A huge windfall such as an inheritance or winning the lotto or power ball is a lot more difficult to handle than you might think.Statistics point to over 70% of people who have won large lotteries having spent everything within seven years and some even filing for...
Another rate hike of 50 basis points and the probability of more on the way call for us to become more savvy with our money. We need to find ways to use money more efficiently and then divert the savings towards paying off debt sooner than later. There are two debt...
From the 1st March 2016 the options for retirement have changed. Legislation comes into play which aims to standardise the various types of retirement funds which are available to us. Namely, provident, funds, pension funds and retirement annuities. The changes will...
Debt is so easy to get into and so very difficult to get out of. Prevention is always better than cure but the reality is that we get enticed into debt over time and soon find ourselves in it way too deep. The cost of debt climbs quickly and robs us of the potential...
The beginning of a new year is a great time to update your personal balance sheet.The exercise is invaluable in your personal financial planning as it creates a snapshot of your actual worth in relation to what you own and what you owe. Your so called “Net Worth”. OWN...
Damage control for the January Blues….. It’s that time of year when we have turned the corner into the new year and need to get our finances back in order as soon as possible. Here are 3 “Don’ts” which will help you to get you off to a quick and effective...
What a year it has been! It will certainly be remembered for its uncertainty. It was a year where asset and currency swings were huge exposing the anxiety and risk of the markets.Paging through various investment data for the year the stats reveal the following...
At the risk of sounding prophetic and sounding like the Grinch, next year is likely to be tougher than 2015. This is the last week before Christmas and perhaps there is still a chance to take control of that urge to splurge. Here are some things to consider: Put on...
The traditional approach to sound financial planning is to buy a property as soon as you can instead of renting. The rationale is that you will be better off paying for your property as soon as you can with the rent you are paying to your landlord. However, there are...
Last Sunday on the Weekend Breakfast Show (702/CapeTalk), Sam Cowen cornered me to please give her some good news against the backdrop our ailing economy. I struggled for an answer and left Sam, Africa and our Sunday listeners hanging. I set out this week digging deep...
The recent increase interest rates by the reserve bank of 25 basis points leaves us with the clear direction of where the cycle is heading (1,5% over 2 years). What we are reminded of by this hike is that asset classes move in cycles and not in straight lines. We had...
What lessons can we take from the current water crisis and apply to our own personal financial planning? Don’t wait for it to happen Do we wait for a life changing event to find out of if the provisions we have made are enough provision to see us through?If you do,...
At this time of the year most medical aid schemes offer choices of plans to their members for the new year. There are many plans in the ranges of the various medical schemes and this makes choosing the appropriate plan that much more difficult. I chose the word...
Let’s face it, there are some debts that we can’t avoid. Buying a car is one of them. The car is enticing as there are many deals out there which put you in the driving seat at what seems to be an affordable instalment. However, beware of the total cost that you are...
When investing in property on your own the classic approach is to buy a place and rent it out. You basically use the rental income to pay off the property over time leaving you with an appreciable asset. It sounds easier at the outset but there are many factors which...
So let’s do something different this year. Your mission is to get through to the end of January without going further into debt. A starting point is to plan for the festive season now while you have a chance. With only three pay days to go before the end of the...
In what is known as the “Clean Break Principle” recent regulations entitle divorced spouses to claim from the pension fund of the ex before retirement. These rules apply to government pension funds as well which have left members with interest bearing debts which have...