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.
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.
Let these optimistic binge-spenders be a cautionary tale if you ever suddenly find yourself with deep pockets.
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.
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.
If you want to retire in relative comfort, here are three ‘guesstimates’ to work out how much you will need to have tucked away.
The saying goes that the best things in life are free, which may explain why, to some people, Discovery Vitality points are so addictive.
Employees are always happy to have their salaries land in the account around payday, but should we be expecting more from the companies we work for?
People slog hard at the daily grind to get their well-earned paychecks. For these South African billionaires, it’s all in an hour’s work.
Everyone wants to hang up their boots with a little nest egg tucked away, but how much is enough? Given medical advancements, you might want to get cracking.
Well done on making another human, parents – now get ready to pay for that privilege. Some of these school fees projections are pretty terrifying.
The name Fidentia carries with it nasty associations, with the Panama Paper leaks only serving to further show their dodgy underbelly.
So you’ve put in the years of hard work and now you want to retire on a budget – turns out there are still places overseas that won’t break the bank.
I think we have all dreamt of the day when we ritually burn our business attire and spend every day at the beach. Perhaps we should start filling that piggy bank then.