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How to raise financially independent children

I recently spoke with Nikki Bush on her podcast where we discussed how to raise financially savvy and financially independent children so that they will not be on their parents’ payroll into their 30s! I have raised three children and believe that it’s not difficult for young people to become financially independent. My eldest daughter is a hairdresser who was able to purchase her first property at the age of 25 years! Yes, you need to […]

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How your age affects your savings

Most people have a firm understanding that if you save while you’re young, this will set you on your way to achieving your long-term goals. However, life is what happens when you’re making other plans and, even with the best intentions and a basic financial awareness, planning for your future can easily fall to the bottom of a long to-do list. During your twenties, you may have focused on having fun, then had various pressures in […]

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Reading ratios

Financial risk ratios, also known as solvency ratios, are used to determine the long-term financial health of a business by analysing whether a company carries too much debt. And these ratios can come in very handy when looking to invest or review financial situations. The solvency ratio is a key metric that can be used to measure whether a company has sufficient cash flow to meet its long-term commitments. The ratio offers a comprehensive measure of […]

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Budgeting tips and tricks for the upcoming tax year

South Africans can expect more changes on the horizon in this upcoming tax year, as the Ministry of Finance attempts to mitigate the financial failings of 2017. After being downgraded to junk status last year, the country is well and truly hanging its head in financial shame, and it is clear that there is a lot of work to do to improve (or simply stabilise) the situation. According to an article published on BusinessTech, the “government […]

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Show the love this Valentine’s Day

In recent years, Valentine’s Day has gained the reputation of being a Hallmark holiday that promotes Lindt rather than love. So, before you rush off to the shops to buy a big bunch of flowers or box of chocolates, you may wish to take a moment to reflect on the meaning behind the day and how you can best show your affection. Romance without the rands… The origins of Valentine’s Day remain somewhat mysterious. Its initial […]

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How to avoid the retirement crisis

South Africa is currently in the midst of what is widely referred to as a ‘retirement crisis’, which could intensify if the issue isn’t addressed properly soon. After a period of excellent investment returns that have, up until recently, somewhat masked the fact that retirees in living annuities haven’t saved enough, local retirement fund members have now entered a lower-return environment, which will only exacerbate the problem. Only a small percentage of the population is believed […]

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Hooray for RAs

Retirement Annuities (RAs) have been around for a long time, and are basically private pension plans that help you to save for retirement. As we near the end of yet another tax year, we move into a period that is often referred to as RA season, which is a good time to weigh up the advantages of this investment product. Over the years, RAs have evolved into much more flexible and affordable investment vehicles than they […]

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Prepare for additional tax increases next year

Towards the end of 2017, President Zuma instructed South Africa’s minister of finance, Malusi Gigaba, to resolve economic challenges after Standard & Poor’s lowered both the country’s long-term foreign and local currency debt ratings by one notch on Friday, 24th November. A statement was released about the measures that would need to be taken to trim expenses and increase revenue in order to address the R40-billion deficit identified by the ratings agency and October’s Medium-Term Budget […]

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Is a tax-free savings account the best option for you?

Many South Africans have started taking advantage of Tax Free Savings Accounts (TFSAs), which were established by the government as an easy and safe way for citizens to increase their savings. When investing in a TFSA, you won’t be taxed on any growth on your investment — you won’t pay tax on dividends, interest or capital gains tax. And when you consider that the interest offered in a traditional savings account is usually less than the […]

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Attainable financial resolutions for 2018

Can you remember what resolutions you made last January? Or for how long you kept them? The trouble with resolutions is that they’re often made half-heartedly, in an annual acknowledgment of our inadequacies and a cursory attempt at self-improvement. Once the hazy days of the holiday season are over and we are faced with the realities of day-to-day life, even the most well-intentioned of us tend to succumb to temptations or old habits far quicker than […]

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