The recent drop in the oil price creates opportunity for all South Africans and we should take full advantage whilst the price of petrol is low.We as a country import 95% of oil needs and therefore are totally dependent on exchange rate as oil is bought in Dollars...
Amongst the many questions asked on the Morning Breakfast Show during the year these were the most pressing. The common thread was that people were struggling to make ends meet and needed advice on how to manage their money better. Are money market accounts safe...
If you are lucky enough to get a year-end bonus you should take stock of your finances and look for opportunities where you can best allocate some of the cash. Save first then spend the rest It’s year-end and of course you have to splurge a bit. However, save a...
We are victims being preyed upon by criminals who want our money. They are creating ways and means to get information about us to enable them to access our bank accounts and credit cards. Scamming is rife and becoming more and more sophisticated as the various...
Fees as a percentage of returns become more noticeable the lower the returns Expressed as a reduction on yield. Which means that if you earn 10% and you total costs are 2,5% you actually earn 7,5%.This is the actual return which compounds over the duration of your...
Looking through the rear view mirror at the stella performance of the world stock markets over the past 4 years as they have soared into the stratosphere, one stands in bewilderment as to how they got anywhere near these heights. Furthermore, one wonders how much...
Inflation discounts the value of your money over time.The official inflation rate or CPI is an average rate of price movements based on a set weighted basket of goods and services over time.The average rate points to how your value of you money is discounting over a...
What is the best investment for you? Is there such a thing as best? How do you go about choosing one?Best is only found in the rear view mirror. Therefore best is only known when you’ve passed it and you can look behind. So best cannot be predicted into the future....
The FAIS Act was enacted on the 30th September 2004 and from this date onwards all advice is regulated to protect the consumer and the advisor for that matter. Protection for the consumer Advice must be qualified and appropriate.Full disclosure and transparency must...
Assurance covers you for just in case, providing you with capital to cover the financial loss you may experience as a result of the life changing event.It’s expensive if nothing happens, but is probably the best financial decision that you make should something like a...
In a recent interview with National Treasury, the concern was that most of us are not saving our retirement funds when we change jobs. The discussion pointed to fees and the impact the costs have on returns. Fees were singled out as the reason why people are not...
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 of winning a 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 bankruptcy. How devastating...
It’s a crazy world…..of all the living species on the planet we humans are the only ones who pay to live and pay to die.The topic of death and its financial consequences are probably not considered that often in the family.Yet it is inevitable for all of us and we...
This is probably the toughest week in the year for those living on credit. Why, well the holiday season is now finally over and children are back at school and most of us are back at work. Next week is month end and by now the bills are arriving in the post or in our...
Work off your debt The more interest you pay the less you have to save and the more opportunity you lose to compounding your wealth into the future. Money lenders make money out of debt through interest and time.The longer interest is paid over time the more the...
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...
Useful financial planning sites on the web There is a lot of information on the internet. Here are some sites which I found useful for those wanting to understand aspects of financial planning. Investment Planning www.marriot.co.zaInvestment tools for retirementEasy...
Your net worth is a key measurement in your financial plan. Technically speaking if you were to sell everything you own and pay off everything you owe the amount left over is your worth. It is easy to be lulled into a false sense of worth with assets such as houses...
If you are fortunate enough to be paid a 13th cheque or receive a year end bonus then here are some ideas on how to spend it wisely this festive season: Save First then spend the restSave a portion. For as little as R1000 you can invest in the Top 40 shares listed on...