Pension fund values can experience declines due to various factors, impacting the financial well-being of retirees and future pensioners. Economic downturns, such as recessions or financial crises, can significantly affect the performance of pension funds. During...
In 2023, South African households faced many financial challenges, over and above the challenges of load shedding and water shortages. Reflecting on the year here are three huge battles we had to face. Inflation Inflation rates jumped to nearly 6%, marking a...
Cancelling a retirement annuity not only impacts the future financial stability but also carries significant tax consequences due to the deductible nature of contributions. An annuity serves as a crucial vehicle for retirement savings with tax advantages on...
As the festive season approaches, it’s easy to get caught up in the whirlwind of celebrations and overspend. However, with a bit of planning and self-discipline, you can enjoy the festivities without breaking the bank. Here are six practical financial tips to avoid...
The steep rise in the cost of living and the high rates of interest have made it difficult for many to buy property. A recent trend has been found in co-buying with friends and family making entering the property market more attainable. There are some distinct...
As South Africa grapples with unpredictable storms, safeguarding your finances becomes paramount. To mitigate potential financial losses, three key strategies are imperative. Firstly, secure comprehensive insurance coverage. Ensure your policies adequately protect...
Household budgets and national budgets may differ in scale, but they share three key aspects that are essential for effective financial planning, especially within the context of personal households: sustainability, equity, and accountability. Sustainability: Ensuring...
Amidst the prevailing concerns about our struggling economy, it’s essential to acknowledge that South Africa still stands in a relatively favorable position when compared to many other countries globally. While this perspective might carry a touch of humor, it sheds...
In South Africa, the growing menace of kidnappings has prompted heightened concerns about the safety of using banking apps on mobile phones. Some security experts caution against having these apps on smartphones, fearing that kidnappers might resort to prolonged...
With just three more paydays before the festive season arrives, it’s crucial for individuals in South Africa to prepare smartly, avoid overspending, and prioritize savings. The following tips can help you make the most of this joyful season without straining your...
You’re navigating the financial landscape in South Africa, where inflation and interest rates are high. It’s a challenging situation for individuals. Let’s explore whether it’s a good idea to “lock in” your interest rates, making them fixed. The Upsides: 1....
As retirement approaches or unexpected retrenchment occurs, individuals holding debentures with a company face important decisions regarding the fate of their investments. Debentures are financial instruments that come with various terms and conditions, and one common...
Choosing between saving in a retirement annuity and investing in a rental property involves a careful consideration of the pros and cons, particularly when evaluating their performance in the long term. Retirement Annuity: One significant advantage of a retirement...
A well-drafted will is essential for providing order and a seamless transition of assets following a loved one’s death. Generic or template wills are cautioned against, as they can lead to costly errors. Here are some important aspects to consider when drafting your...
Dying without a will has some severe implications for the loved ones that you leave behind. Especially if they are minors under the age of 18. Many South Africans do not have a will and this means that their estates will fall under the Interstate Succession Act. The...
The findings reported in a recent City Press article reveal deeply concerning practices within the lending industry, specifically concerning payroll loans. These practices not only raise ethical concerns but also underscore the urgent need for tighter regulations to...
Rising global and local inflation rates are sending shockwaves through households as the cost of living soars. Families are finding it increasingly difficult to make ends meet, often resorting to credit cards to bridge the financial gap. In this challenging...
The proposed amendments to the Income Tax Act put forth by the National Treasury mark a significant shift in the taxation landscape for remote workers in South Africa. Under these amendments, Foreign Companies that employ South African individuals for remote work will...
Over the years, women have made remarkable advancements in various fields, including education, careers, and entrepreneurship. However, certain financial disparities still persist, such as the gender pay gap and a higher likelihood of interrupted careers due to...
A recession is a period of economic decline where businesses don’t do as well, leading to fewer jobs, and people struggling to make ends meet. It’s characterized by a decrease in the total goods and services produced (GDP), increased unemployment rates, and overall...