As financial fraud continues to be a threat, South African banks are responding by moving forward to an era where your plastic bank card will no longer need to be used directly. Instead you will become more reliant on your mobile phone as a means of payment and the use of your fingerprint as a…
It is estimated that there are as many as 6 million Zimbabweans working in South Africa, and there are several money transfer services available to facilitate the transfer of money earned in South Africa to family members back home. International remittance provider, Hello Paisa, part of the Hello Group, says statistics collected over the past…
As a parent today, you need to be setting funds aside from the time you have a baby – not just for tertiary education but for primary and high school fees too! There are several savings options available to you: Fundisa – This is an educational savings account introduced by the government to help you…
Getting engaged is a momentous occasion and brings with it the excitement of planning your wedding. However, before you make that commitment, there are a few “ifs and buts” you need to consider, such as your marital contract and how it affects you in future. There are three different marital contracts: in community of property,…
When you were young your parents worked hard to save for your tertiary education. Times have changed and these days you need to save for every day of your child’s schooling – and that includes primary, secondary and tertiary level! Sit down and pull out a notebook for a lesson on how to save the…
Dealing with a financial services company when you have a complaint can be a time consuming and sometimes frustrating experience. But there is help at hand, which is also free of charge. There is a range of financial services ombudsmen offices in South Africa, each of which specialises in complaints related to a specific sector.…
There are several savings vehicles you can use to invest for your child’s education. You can use a general savings vehicle such as a unit trust. Or you can look for a savings vehicle specifically designed for education savings. Make sure you find out upfront exactly what fees and commissions you are liable for and…
If you have an access bond facility, you can use your home loan as a savings mechanism. This wil help you reduce interest on your home loan as interest is charged on the outstanding balance. When you take into account the reduction in your interest charges, it can often outweigh the lower interest rate that…
During financially stressful times, it may seem easy or tempting to dip into your access bond to tide you over until things get better. However, this is not the answer and before you approach your bank, make sure you know the difference between an access bond facility and a re-advance on your home loan. Mtimkulu…
Every year about 18 000 South Africans die and about 150 000 are injured in motor vehicle accidents. Alcohol is a factor in about 50% of the cases. 2013 statistics show that death by drunk drivers has now increased to nearly 12 000 deaths annually. The good news is that short term insurers and even…
