The current reality is that one of South Africa’s most expensive private day schools broke through the R240,000 barrier. That’s for a single matric year, by the way.
Perhaps the best advice has always been to not keep all your eggs in one pot.
Interest rate cuts might just be the most beautiful words to have been uttered by anyone this year.
More and more of us are feeling like we’re living a champagne life on a beer salary – even if that means we’re still settling for beer – which means it’s time to budget big time.
The three biggest private medical aid providers have announced increases to their medical plans, and as the effects of interest rates bite, the cost inevitably rolls downhill to the people who can least afford it – You.
Economists warn that record diesel price hikes may exert upward pressure on inflation, potentially affecting the interest rate outlook.
Seeing as how hiding your income in a sofa is frowned upon, you must give unto Caesar what belongs to Caesar. The experts can navigate this quagmire better than you, guaranteed.
While countries like Spain and Portugal are making it more attractive for companies to source remote workers within their borders, SA again seems to want to head in the other direction.
But how are companies closing down not negative? Well, according to the people who read the financials the way we read GQ, not all liquidations are because people are going broke.
We might not be out of the woods yet, but Stats SA has published the latest inflation numbers for South Africa, showing annual consumer inflation slowed to 6.3% in May. This makes it the lowest it’s been since April last year.
As tempting as it may be to invest in your brother-in-law’s ‘foolproof’ scheme that resembles a trapezoid (it’s not a pyramid!), you may want to speak to someone outside of your family circle when it comes to your financial future.
Let it also be noted that the 2023 school fees don’t include all the extra costs for parents with kids at private schools.
Even the most meticulous planning can throw retirement plans into disarray, especially with the extreme market volatility and uncertainty of late.
For those who prefer a prudent approach to exiting the working world, determining your “financial freedom number” may be of interest.
How and when you retire depends on how well you’ve prepared in the years leading up to it, and South Africa has one of the worst savings rates in the world.
When it comes to investing, and investing wisely, the informed will tell you that it’s a long game.
Best-case scenario, your kid gets a full scholarship because they’re a prodigy. For the rest, it’s going to be a pricey ride.
Go ahead and tick off life advice and guidance and impart a strong sense of right and wrong and all that. At the same time, it’s worth passing on a few financial words of wisdom as well.
It never hurts to know exactly where you’re at fitness-wise while earning those sacred Vitality points at the same time.
Tick a few of these boxes and you may seriously jeopardise your retirement planning.
When it comes to the ‘Rule of 72’ compound interest is king.
As tough as stashing away a little money each month can be, failing to do so is really just kicking the can down the road.
Climbing the financial ladder to the very top often requires shrewd investment and a little bit of help.
Whenever I look at the cost of school fees these days I shudder. As bad as they are now, they’ll be much, much worse when your toddler makes it to high school.
Trying to save money can be a daunting prospect. The hardest part is actually getting the ball rolling because once you see your savings start stacking up it can become a little addictive.
Planning for your future isn’t something you do on a nudge or a whim, which is where the financial experts come in.
We often fall back on the same old myths, commonplace assumptions, and excuses to avoid taking responsibility for our finances.
Not all investments are created equal, and understanding the rule of 72 should help make informed decisions about which suits your needs.
These financial planning basics are aimed at encouraging saving during a time in which many are feeling the strain.
It’s not easy to put money away when you’re just about scraping by, and counting the hours until payday. However, we do have a serious problem on our hands.