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There are some other important issues to consider through your life time. We will investigate and discuss some of these over the next few weeks starting with differences in marriage contracts.Taking you through different marriage financial tips. – THERE ARE 3 BASIC MARRIAGE CONTRACTS. Consider which one you would like to govern your marriage and […]

As there may not be the opportunity to earn income in your 70’s, your 60’s should be used to top up on shortfalls. You are approaching retirement fast. It is important to have a trusted financial advisor when you retire and a will. Focus on the home that you will stay in. Is it a […]

In your 50’s you should be working hard to pay off your bond if you haven’t already done so. Children should be less financially dependent, which means that you should have money to save. This is a time to focus on ways to preserve your hard earned money and grow your assets. Sit down with […]

1. THE COMPANY YOU WORK FOR. There are many things to consider when choosing a job, but the retirement benefits offered are vital to wealth-building in the long term. A 30-year-old who doesn’t carefully research his or her benefits and chooses to work for a company with no company match or retirement contribution could be […]

There are 6 financial planning tips meant to help 40-somethings find balance in their hectic lives of spending and debt. Let us start with: 1.BUILD YOUR CASH RESERVES The first step in any financial planning is to establish an emergency fund. You should have three to six months of your normal income in an account […]

1.FUELING AN OVERSPENDING HABIT. Breaking an overspending habit during your 20s can prevent serious money problems later in life. Become a mindful spender and keep track of all your purchases. Do you really need that new pair of shoes? Do you shop as a hobby, as a way to reduce stress or as a cure […]

Here are six important financial decisions 30-year-olds make that could come back to haunt them in their 50s: 1. THE COMPANY YOU WORK FOR. There are many things to consider when choosing a job, but the retirement benefits offered are vital to wealth-building in the long term. A 30-year-old who doesn’t carefully research his or her benefits […]

1. UNDERSTAND HOW YOUR MONEY WORKS. In your 20’s you should begin to understand how your money works and learn how to budget. Promote good spending habits that will hold you in good stead. This is also the time to acquire skills which you will use to earn an income. 2. THINK ABOUT GENERATING INCOME […]

1. GET A GRIP ON COMPOUND INTEREST. Understanding the power of compound interest can give you more motivation to save early and often. For example, let’s assume you start putting R416, 00 per month (R5000, 00 a year) in a tax-deferred retirement account that earns an average of 8 percent per year. Save for 40 years, and […]

When you apply for debt counselling, your debt counsellor will do a basic assessment which will give you some idea of the instalment you will be paying while in the program. This is an interim instalment which you are required to pay to your creditors until the proposal is completed or your new instalment set […]

ABSA Bank ABSA provided Personal Finance with the following information about their banking for children accounts aimed at the under-18 market: Absa Bank – MegaU is a transactional savings account designed for under-18s. You need at least R10 to open an account. The account has a debit card. You can also bank by cellphone. MegaU […]

Collective investments like Unit Trusts have lots of advantages. You require far less money to buy them, you can invest small amounts on a regular basis, you are spreading risk across a number of companies or different types of assets, and the dividends and interest can be added back into the investment to make them grow […]

Drawing up a budget can seem more like a penance to your children than something constructive. It is up to you, as a parent, to make it fun. Children need to understand that a budget is basically a saving and spending plan. The emphasis should be on saving and not on spending. They need to know […]