Compound Interest, Debt, Investment

How to increase your savings rate

Being financially literate is all about knowing how to manage your finances better. The main advantage of being financially literate is having control over your money – how you spend it, how you save and invest. In the main, it is about making the right financial and investment decisions and knowing how to make your… Continue reading How to increase your savings rate

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Compound Interest, Credit, Debt, Investment, Savings

How to maximize benefits from your bank’s Rewards Programme – Part I

I have been an FNB client since my varsity days in 1995. I started working in formal permanent employment in 2000 and have been an FNB client for as long as I can remember. However, there was a time when a public investment scheme was initiated by one of the big four banks as part… Continue reading How to maximize benefits from your bank’s Rewards Programme – Part I

Compound Interest, Credit, Debt, Investment, Property, Savings, Tax

How to start when you want to save?

It is much easier to commit and focus on something when you are motivated. Often you need an incentive to motivate you. For example, if you know that you are going to feel good and healthy when you have lost some weight and built some muscle, you are most likely to stay on a diet… Continue reading How to start when you want to save?

Compound Interest, Credit, Debt, Investment, Savings, Tax

In-Store Account – Why is it the same as credit card?

It is very common in black communities to see people, particularly women carrying hefty purses with several store credit cards bulging out. I am reminded of a conversation about money and debt that I had with a colleague of mine the other day. I told her that many people get trapped in debt for expenses… Continue reading In-Store Account – Why is it the same as credit card?

Debt, Investment, Pension Fund, Property, Property, Retirement Fund, Savings

Economic Power of Stokvels as Collective Investment Schemes

In my blog “Building generational wealth”, I state that stokvels are a uniquely township concept that is aimed at assisting communities to save collectively as a way to strengthen their purchasing and bargaining power. It is a brilliant concept considering the benefits of a stronger bargaining power. Similar concepts that leverage the power of collective… Continue reading Economic Power of Stokvels as Collective Investment Schemes

Debt, Investment, Pension Fund, Property, Property, Retirement Fund, Savings

Cost of Borrowing vs Return on Investment in Property

A regular twitter follower often comments on my posts about investing in property. He particularly disagrees with my views about leveraging mortgage bonds from the banks as a way to acquire rental units for investments and not paying off the bond ahead of schedule. I often advise on weighing the two options, by calculating the… Continue reading Cost of Borrowing vs Return on Investment in Property

Debt, Investment, Pension Fund, Property, Property, Retirement Fund, Savings, Tax

How I bought my first 2 rental units with zero capital

“Analysis paralysis” is a phrase used widely to refer to the danger of losing out on an opportunity or wasting too much time before embarking on a project due to too much attention on details. I’d be the first to admit that I am a perfectionist and wouldn’t commit on anything without properly investigating the… Continue reading How I bought my first 2 rental units with zero capital

Debt, Investment, Property, Retirement Fund, Savings

Your relationship with money – Do you see stars or bars?

Most of my tweets in the past two days have focussed more on people’s relationships with money. In fact, the first time I heard someone making reference to this was on a YouTube podcast of an American breakfast show. The guest was Stacey Tisdale, an award winning American financial journalist and author who said “You… Continue reading Your relationship with money – Do you see stars or bars?

Debt, Investment, Property, Property, Savings

A few thousand Rands floating somewhere in your budget

My financial position has improved nearly 10 times more than a year ago. My net worth may have reduced quite significantly. But that is due to the homeloan debt that I have since taken on to buy a few investment properties. One needs to draw up a financial strategy to achieve their financial goals. Every… Continue reading A few thousand Rands floating somewhere in your budget

Debt, Investment, Pension Fund, Retirement Fund, Savings, Tax, Uncategorized

Financial Wellness

Budget Create a financial ecosystem to take full control of your finances What are your financial goals Setting goals is the most effective way to define your purpose and direction in life. Not only that, it gives you confidence and a sense of control in your life. Your health, your career and finances are just… Continue reading Financial Wellness

Debt, Investment, Pension Fund, Retirement Fund, Savings, Tax

How to convert your salary to wealth

Most people earning a salary from a permanent or fixed income job pay about a quarter to a third of their income in tax. Another third of this income goes to living expenses. The last third goes to finance charges such as bank charges, fees and interest since most people are habituated to live above… Continue reading How to convert your salary to wealth

Uncategorized

How to control your finances

My budget is divided into fixed and variable expenses just as any other personal budget should be. I also noticed that most if not all my fixed expenses were paid by debit order. This automation of payments takes the hassle out of budgeting and the effort required to honour my financial obligations. It gives me… Continue reading How to control your finances

Uncategorized

Building generational wealth

I was recently listening to a personal finance discussion on one of the national radio stations. The financial advisor mentioned that he had been investing in a fund for his grandchildren for 9 and 7 years respectively since they were born. Chances are that the parents of these children are likewise investing in some form… Continue reading Building generational wealth

Uncategorized

Income and wealth inequality in South Africa

Nearly two decades ago a former colleague of mine asked me a question that has stuck with me. We met a year earlier while doing a six-months long course that would allow us entry to work as trainee officers on the warships. Prior to that time, he had spent three years at a military academy… Continue reading Income and wealth inequality in South Africa

Uncategorized

How to pay off your debt in 3 easy steps

Paying off debt does not just happen like a miracle. Neither do you decide to just pay it off one morning when you wake up. It is a well thought and thorough process of deliberate intentions and action to stay debt free. It requires planning, courage, patience and focus. A person who understands why it… Continue reading How to pay off your debt in 3 easy steps

Uncategorized

How to invest in property

It’s very rear to find an established entrepreneur or property mogul who out of their own initiative and willingly makes time to share their experience and advise with others on how they made it in their respective field of business. It is even unheard of to find a successful investor or businessman sharing their business… Continue reading How to invest in property

Credit, Debt, Investment, Savings

How to manage your finances better

“If you change the way you look at things, the things you look at change.” - Wayne Dyer Most if not all employees are paid periodically such as monthly, weekly or fortnightly. In fact, for most people in formal permanent employment their total cost to company or annual salary is often stated in their employment… Continue reading How to manage your finances better

Investment, Savings

How to start saving and investing with very little

It always amazes me to see people doing and enjoying the things they love and are passionate about. Especially things that add value and bring about progress and growth in life. An example that quickly springs to mind is exercising. Now that winter is gone and spring is in full swing, you are likely to… Continue reading How to start saving and investing with very little

Insurance, Insurance

What you should know about insurance

Insurance is a cover for financial risk. It covers the uncertainty inherent in life. That anything can go wrong unexpectedly. Often, whenever an emergency or something dangerous or detrimental to one’s health or wellbeing occurs the means required to tackle the resultant unfortunate situation requires a lot of money. A lot of money is required… Continue reading What you should know about insurance

Savings

How to maximize benefits from your bank’s Rewards Programme – Part II

We are nearing the end of October as I am writing this article. Last month got nearly R1,900 cash back in eBucks points from my bank. The question I asked myself this morning is “If the bank can help me save nearly R2,000 a month, what is it that I can do by myself to… Continue reading How to maximize benefits from your bank’s Rewards Programme – Part II

Savings

What bank charges and fees cost you

Social media has recently been abuzz with complaints and debates about the role of financial advisors; whether they provide personal financial advice to assist clients with financial solutions for their financial wellness or that they are merely trying to sell their financial products instead. There is a myriad of financial products in the market including… Continue reading What bank charges and fees cost you

Property

How to make millions in property in just 3 easy steps

Investing is the most effective way to build and accumulate wealth. Some people believe in starting a business and hoping to make huge profits in a short space of time. Other wish to land a high paying job as a gateway to riches. These options or strategies vary to a great extend in the potential… Continue reading How to make millions in property in just 3 easy steps

Investment, Property

Buying a Brand-new Car Vs Becoming a Millionaire

One of the listeners of a regular radio show on personal finance asked the guest financial adviser about the difference between buying a brand-new car and buying a house on finance. People are often perplexed by the difference in repayment terms between a car and a house. The repayment term for a new car is… Continue reading Buying a Brand-new Car Vs Becoming a Millionaire

Savings

Pay your bills and invest from your small change

It crossed my mind this morning that building and accumulating wealth is to a large extent a function of understanding basic concepts about money. These concepts include how money works, debt, loans, credit, savings, investments and interest. I recently did an exercise in one of my financial wellness workshops to illustrate the process of creating… Continue reading Pay your bills and invest from your small change

Uncategorized

How to get the most value from your bank

I was privileged to be invited to the FNB private clients breakfast session. I have always had questions and concerns which I felt that my private banker did not address adequately. So, when the opportunity came to attend this breakfast session, I didn’t waste time. I jumped at it and immediately confirmed my availability to… Continue reading How to get the most value from your bank