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...
One of the more complex financial products is a life assurance policy. You need to understand the definitions of the benefits taken and the conditions under which they will be paid out. You also need to be aware of the various exclusions that are applied. The...
Taking the option to go it alone with your investments takes some work. The financial universe is huge and navigating your way through the options takes a lot of research and study before making an appropriate choice. You could choose investments that are actively...
If you expect a higher rate of return on your savings then you need to take on more risk. Generally speaking, risk is the potential of your investment to fluctuate in value over a period in time. It is important to realise how risky your investments are relative to...
You work hard for your money and you know that you should be saving more of it. Developing a determined attitude towards savings is the first step which will get you on the road to financial freedom. So how do you start? Here are some essential questions that you...
Early to bed and early to rise makes a man healthy, wealthy and wise. A proverb which provides a strategy for the – The perfect retirement plan You probably will have to work for the rest of your healthy life. The problem of living too long is increasing...
Filing Season for 2015 has opened so its time to prepare that tax return again. For the average salary earner in South Africa, there isn’t much left to deduct on your return. Car allowance and retirement annuities are just about all that is left to consider. Travel...
South African change jobs on average 7 times in the working phase of their lives and 95 percent end up without sufficient funds when they retire. The main reason is that they cash in their pension funds instead of preserving them every time they move jobs. Every time...