The State of the Nation Speech which was eventually delivered on Thursday evening presented us with some lessons on what not to do which we should take away to our own households. Proactive rather than Reactive Eskom (and all other SOEs) are in crisis due to an...
As we enter into the final month of the tax year for 2023 we still have some time to take advantage of some tax opportunities. Even if you don’t have the resources to take full advantage of these any contribution will make a difference to your tax payable. Retirement...
Improving your personal balance sheet is crucial for achieving financial stability and success. A strong balance sheet can help you plan for retirement, save for big purchases, and weather financial setbacks. Here are a few ways to improve your personal balance sheet:...
If you’ve found yourself in debt after the festive season, don’t panic – there are steps you can take to get back on track. Measure your situation One of the most effective ways to get out of debt is to create a budget and stick to it. This means looking at your...
Fraudsters are on the prowl in rising numbers trying everything to get to your hard earned money. Stockvels are no exception and seem to be soft targets as members are easily drawn into the false promises of fantastic yet unrealistic benefits. Here are some ideas to...
What a year… Looking into the rear view mirror back at 2022, the disrupted global economy has left us with many financial challenges which we will have to carry through to next year. They certainly won’t be going away for a while. The 3 big ones to contend with are:...
With the rapid rise in inflation and the consequential rise in interest rates, we are all feeling the pressure of the cost of living and are struggling to get through the month. If you are on a payroll, it becomes very difficult because income is limited and...
With inflation, running at these stressful levels, and not seeming to come back soon we need to be very aware of how this impacts on our financial future. Quite simply, the higher the inflation rate, the less the value of your money in the future. Thankfully, the...
When planning for retirement, we tend to underestimate the cost of medical aid which historically has increased faster than inflation eating more and more into your future pension. It is said that you spend more on medical expenses in the last two years of your life,...
Johannesburg: Financial Planning Week 3 – 7 October. The Financial Planning Institute of Southern Africa (FPI) is proud to announce Financial Planning Week (FPW) 2022, an ongoing annual consumer initiative organised by the FPI to make financial planning the basis of...
Make sure your will is valid You need to be at least 16 years and capable to draft a will. The will needs to be signed in your presence by two witnesses at least 14 years old who have no benefit in the will. “If you die without a valid will, your assets will be...
We have just entered National Wills Week and hopefully will achieve a much needed awareness of the importance of having a will in place. Even more importantly, to ensure that your will is valid…… An invalid will can lead to unnecessary delays and costs when it...
RSA Retail Bonds are an option for those seeking that little extra interest from their strained savings. Effectively, you are lending the government money on a short term basis of 2, 3 and 5 year options where the interest is fixed and you are guaranteed your money...
Treasury has a draft proposal before parliament which allows you to access your retirement funds for emergencies and unforeseen expenses. This may seem like good news as many South Africans were financially strapped during the COVID lock down and could have found...
The huge surge in the oil price has sent the price of fuel into the stratosphere with petrol reaching a record high of over R21 per litre. During my last drive to Natal I noticed hundreds of trucks transporting goods up and down from the Highveld. Each one driven on...
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...
The Reserve Bank Monetary Policy Committee (MPC) announced on Thursday another interest rate hike of 25 basis points. This extends to the banks prime lending rate of 7.5%. Inflation The Reserve Bank has a mandate to protect the future value of our purchasing power...
2021 has been another year dominated by COVID19? It’s left a deep scar in our global history having devastated lives and livelihoods. Yet as life goes on there are some questions which were raised in the year affecting our personal financial planning which need to be...
Research into the average British household shows that it costs on average around GB 7 000 per year to raise a child from birth to 5 years old. That’s around R140 000 per annum. South African middle income households show that it costs around R90 000 a year to raise a...
What is inflation? The Consumer Price Index (CPI) is the measurement of the average increase in prices of...