Normally, inflation data is reweighted every five years to factor in changes in consumer behaviour. As the economy grows and wages increase, spending on certain items such as food, electricity and petrol tend to decrease. This time, however, Statistics South Africa (Stats SA) is releasing the new inflation data six years after the last official […]
People with irregular incomes can now access an inexpensive debit card for a one-off fee of just R30 and no ongoing management fees.
How do you get a credit record when nobody is willing to give you credit?
Should analysts and economists publicly raise concerns about issues that affect millions of South Africans, only to be condemned for doing so?
Inflated numbers are bad for South Africa’s monetary policy, writes Maya Fisher-French.
The effects of higher interest rates and inflation cannot be underestimated, writes Maya Fisher-French.
The all-share index has been buoyed by resources, but there is no hiding the carnage.
Changing jobs could cost you R300 000 in medical funding, so when changing jobs you also need to find out what risk benefits your new employer offers.
Should cash from retirement funds be made readily available for major financial need?
The Competition Commission looks to streamline debit order systems, writes Maya Fisher-French.
Debt: Combined with higher fuel and food prices, middle-income earners have hit a wall — and further interest rate hikes have not been ruled out.
Spouses are entitled now to an immediate share of the retirement savings of their former spouse if provided in the divorce agreement.
Banks confirmed last week that they will refund customers who bought tickets for flights on Nationwide Airlines or concerts by singer Josh Groban using either a debit or credit card.
Do not rely on common law to provide you with protection in the case of death or separation, writes Maya Fisher-French.
A change in attitude is needed to keep building, writes Maya Fisher-French.
FNB has come to the market with an aggressive pricing package that provides free and unlimited electronic banking for R66 a month.
Headlines showing a 13,2% fall in house prices combined with 400% increases in the number of house repossessions are enough to send panic through the market. But these numbers are misleading, creating an uglier picture than is necessarily the case.
A year ago the <i>Mail & Guardian</i> ran an article on cellphone contract provider Platinum Africa. It appeared the company was using fraudulent selling tactics to sign on new customers.
Globally the world has moved into a higher inflation environment and South Africa is no exception. However, interest rates can contain inflation only to a certain degree and, like chemotherapy, it has the potential to destroy what is good in an economy while trying to cure the illness, writes Maya Fisher-French.
Although house prices in certain areas have seen a decline, you still need to make sure your house insurance provides for replacement costs rather than property costs. Debbie Donaldson of FNB Insurance Brokers says that, while house prices may be under pressure, building costs are increasing.
Interest rates are set to rise again and food and petrol prices are increasing at alarming rates. For those who are desperate, the implementation of a couple of simple measures could save more than R1 000 a month.
Want to buy property or shares in Zimbabwe? Just bring along a bag of fertiliser or some cooking oil. Maybe it’s not quite that easy. But liberalisation of the economy has started and, as a country on its knees desperate for food and "strategic" goods, Zimbabwe has introduced a barter system in return for assets.
The latest slew of economic data suggests we might see a further rate hike. Some economists predict further interest rate hike of 100 basis points before we see the peak, bringing the prime lending rate to 16%. To add salt to our wounds, the high interest rates are likely to be around for a considerable length of time.
An investigation into the consumer credit insurance industry has found that remuneration by some insurers to motor dealerships and furniture retailers was in excess of the capped commissions stipulated in both the Short-Term and Long-Term Insurance Acts. It also found that there have been undesirable practices by intermediaries selling credit policies.
The reality is that often a person who has been responsible for causing an accident changes his or her story when it comes time to claim. Because of the way the insurance industry operates, you might find that your insurer is not particularly helpful in resolving the issue.
Consumers and small businesses are starting to collapse under a combination of higher interest rates, higher petrol prices and higher food prices. According to latest figures from Statistics SA, personal insolvencies increased by 58% last month compared with a year ago and civil debt judgements against companies jumped 41,2%. Liquidations for the first two months of the year increased by 6%.
South Africa’s financial services industry might be relatively unscathed by turmoil, but the flight of investors could bring a balance-of-payments crunch, writes Maya Fisher-French. This liquidity crisis has come at a critical time for the country, which is facing its own set of economic woes.
Many tax practitioners and their clients will find themselves on the wrong side of the Receiver of Revenue as the final date to submit tax returns passed on Friday. Tax practitioners have faced big delays because of major technical glitches with the e-filing system, while individuals are being asked taxing questions.
Since September last year, divorcees have been able to receive a portion of their ex-spouse’s pension fund without waiting until retirement. But confusion about the taxation of these funds and whether divorce orders prior to the change in legislation qualify has meant that the payment has often not been made.
If political uncertainty, power cuts and the economic slowdown is making you stay out of the market; think again. You can still make money out of South African equities when the going gets tough. Last year, Investec launched RandHedge as part of its exchange-traded fund "Z-shares" range.
The petrol price is now over R8, inflation is higher than anyone expected and looks ready to test 9%, and our mortgage repayments have gone through the roof. When trying to squeeze that little extra from your monthly budget, review your current insurance payments and look at ways to self-insure.
Ironically, the cost of running a broker force to encourage saving makes saving in a growth asset a poor investment. Investing money in a monthly unit trust could cost you as much at 7% a year after commission and management fees have been deducted, writes Maya Fisher-French.