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...
In the face of the current explosion of scams reaching you through emails, sms’s and advertisements it is evident that many unsuspecting people are getting lured into webs leading to financial disaster. Scamming or phishing, as it is also called, is a plot aimed at...
In these tough times when households are under pressure to make ends meet, perhaps it time to have a closer look at loyalty programs to unlock some value to help get through. The more successful loyalty programs help you to change towards lifestyle behaviours which...
In these modern times there is a strong shift away from the traditional breadwinner to a more equitable contribution by both spouses towards the income in the household. In more and more cases, there is even a reversal to where the husband stays at home with the...
The annual Financial Planning Week kicks off on the 7th September. It aims to raise awareness of the importance of financial planning and how relevant it is to all South Africans. It’s an initiative from the Financial Planning Institute which has become a...
This week saw trillions wiped off global markets in a very short space of time as investors panicked over the developments in China. By the end of the week some stability was restored mainly in US but other markets, especially emerging ones, were left battered and...
Gold has always been a storage of wealth. The lustre of gold has attracted investors for centuries. Over the best part of the last decade, however, it seems to have lost its shine. Peaking at levels around $1900 a few years ago to $1100 of late the big question is,...
Your credit card can be a great financial tool if you understand how it works and how to use it effectively. In the same breath it can be the single cause of your financial demise if you let it run away from you. How credit cards differ from debit cards. The credit...