Planning Topics
Credit, cash flow and loans are trigger words for the entrepreneur and SMME in South Africa when the waters get deep, and these become panic words for most. The rise of fin-tech and micro-financing makes the lending landscape look like an easy way out; independent lenders proclaim easy, quick-fix…
The recent interest rate hike as well as rising inflation and increases in the cost of food have made it difficult for South Africans to save money. By making changes to their spending habits and reducing their expenses, people can keep a little extra money in their pockets that they can put…
By Palesa DubeA retirement fund, such as a retirement annuity, a pension or provident fund, is a common way and a great starting point for many people to save for their retirement years. While having a retirement fund is certainly a good step towards achieving financial independence, it is not a…
By Lunga MemelaThembelihle Cele (22) was in the final year of her Bachelor of Medical Science in Clinical Anatomy when she lost her father. Her world nearly crumbled, as he was the breadwinner back home in the rural community of Oshabani in the Ugu District where she grew up. As devastating as it…
By Bertie NelHolistic wellness has been a popular topic in recent years. Mental, physical, and spiritual health have been at the forefront of our well-being, but how good is it if we are suffering in one fundamental way? In many households, financial wellness often takes a back seat, resulting in a…
By Kristin Naragon-GaineyFinancial stress is affecting us in many different ways. Some people are struggling to pay bills, feed the family, or maintain a place to live. Others are meeting their basic needs but are dipping into their savings for extras.Financial stress is increasing and,…
By Bomikazi ZekaWith the cost of living and interest rates rising, a growing number of people are struggling to manage their finances. Many are experiencing real financial stress.But even in the best of times, managing your finances is hard. Every day, you’re making complex financial decisions (…
With the current tight economic conditions, South Africans are having to watch what they spend on groceries. There has been no reprieve for consumers in the country as the cost of living crisis deepens, with the South African Reserve Bank’s aggressive interest rate hikes, fluctuating fuel prices in…
Food Lover's Market launched its 7th in-store Hunger Month initiative earlier this month to raise funds to feed hungry South Africans.Partnering with partner suppliers, Food Lover's Market Hunger Month aims to create awareness and raise funds for meals for the most vulnerable in our communities…
After celebrating Mother’s Day, many people may have been reminded about the crucial role their mother’s played in shaping their approach to various aspects of their lives, including their attitude towards money.“How we save, spend, and invest is greatly influenced by what we see modelled to us…
Financial planning is essential if you want to protect your family for a time when you are not around and getting the right insurance cover is an important step.Ester Ochse, product head, FNB Integrated Advice, said that life cover and funeral cover are important in their own right, but each plays…
By Coert GrobbelaarMost people realise the importance of planning for retirement, but how many know exactly how to make their retirement plan work effectively for them? Whether it be a retirement annuity, living annuity, or investment policy – every financial product has different benefits and…
By James NewellHaving recently enjoyed reading Morgan Housel’s “The Psychology of Money” I was reminded of the crucial role compounding can play in multi-generational wealth creation. While the stories about arguably the greatest investor of our time, Warren Buffet, are legion, this one I didn’t…
Credit is a powerful financial tool and without it, many South Africans would not be able to make the big purchases such as a car or a house, according to Warren Tromp, Executive for Product Development, Nedbank.To get credit people need to have a good credit score and banks and other responsible…
Last week, exploring gold as an investment, I dug up some interesting facts about the yellow metal and looked at the history of the gold price over the last half-century. Today I focus on the pros and cons of investing in gold and the direct and indirect ways in which you can invest.Many investors…
Prior to the greylisting of South Africa, most citizens were still living with a naive impression that all is well with our financial authorities. We saw an impressive (in appearance and size) South African Reserve Bank (SARB) building and Financial Sector Conduct Authority (FSCA) headquarters in…
South African consumers will be forced to readjust their monthly budgets once again after the South African Reserve Bank (SARB) hiked the repurchase (repo) rate once again, this time by 50 basis points (BPS). The SARB governor, Lesetja Kganyago, made the announcement on Thursday, following the…
South Africans will be reviewing their finances and taking a closer look at how they spend money following the increase in interest rates by the South African Reserve Bank (SARB). The 50 basis points hike to the repo rate by SARB means that the prime lending rate is now 11.75% while the the repo…
By Cornelia Van HeerdenThe fast pace of growth in cellphone apps is catching the attention of cybercriminals, leading to greater risks of fraud. While many smartphones have built-in fraud-prevention technology, the reality is that criminals are constantly on the lookout for ways to take over…
South Africans are stretching their income to keep up with food and fuel price hikes and the impact of rising interest rates on monthly debt payments.Ayanda Ndimande, Head of Sanlam Business Development for Retail Credit, says there is a growing reliance on credit to compensate for the soaring cost…