debt
As soon as you can, start putting money aside into a baby fund that is earmarked for costs such as baby, clothes, prams, car seats, nappies, formula and toiletries. Use a savings account, money market or fixed deposit to house
Income protection is a form of long-term insurance which is designed to replace your income if an illness or disability renders you unable to earn your income either temporarily or permanently. While many consider this type of cover to be
In the absence of an emergency fund, you may be forced to access debt in order to pay for the unforeseeable expense you are faced with, keeping in mind that short-term debt is normally expensive. Ensure that you always have
Paying off a bond is a long-term commitment and is generally the most cost-effective debt one is likely to access in one’s lifetime. As such, it is important to take a step back and holistically review your financial objectives over
Ideally, avoid using rules of thumb when determining your post-retirement income needs, and consider your actual situation. Firstly, make a list of those expenses that are likely to fall away when you retire, such as bond and car repayments, long-term
When the Repo rate was slashed during “lockdown”, many South Africans took advantage of this low-interest-rate environment to purchase property with what was seen to be cheap home loan financing. The worry moving forward is that the SARB have indicated
Simply put, your credit score is a measure of your ability to pay your bills and manage your debt. The higher your score, the less risk you pose to the lender. Looking after your credit score throughout your life is
Disability insurance is one of the most complex when it comes to the long-term insurance industry, so ideally seek the advice of an independent advisor when it comes to analysing your income protector. Understanding the nuances of your cover and
Remember, your severance benefit will be taxed as per your retirement benefit with the first R500 000 being tax-free. When calculating your tax-free portion, bear in mind that SARS will take into account all previous taxable withdrawals, retirement benefits and
