money management
Essential money skills such as budgeting, forecasting and basic money management are very often not taught at home or at school. Not understanding how compound interest can either work for or against you often leaves people consumed by debt and
Having a university degree provides no guarantee that you will be wealthy or successful. Some of the world’s wealthiest people dropped out of university to start their own businesses.
While a cohabitation agreement is designed to set out the financial consequences should the relationship break-up, it should also deal with other eventualities such as the death of a partner, disability or illness, unemployment, job relocation, and inheritance, to name
It’s vital that you and your spouse set out clear guidelines for how the household finances will be managed. In the absence of an income of your own, you will be largely dependent on your spouse for money, so be
Your future self will thank you for beginning your investment journey early in your career even if your retirement plans are unclear. The most tax-efficient way to achieve this is by investing towards an approved retirement fund and claiming the
While your natural instinct may be to put your own retirement funding on hold so as to prioritise your child’s education funding, be careful of taking this approach. Remember, while it may be possible to borrow for your child’s tertiary
If you fail to make your credit card repayments, the bank will report you to the credit bureaus and this, in turn, will affect your credit score. Remember, your payment history accounts for 35% of your overall credit score, which
As much as your financial plan should focus on building wealth, it also needs to include an estate plan that makes provision for the distribution of your wealth should you die, keeping in mind that tragedy can strike at any
The economic value of a stay-at-home mom is typically undervalued. It is estimated that the average stay-at-home mom works around 97 hours per week performing multiple roles which include child-minder, au pair, nurse, teacher, psychologist, driver, cleaner, housekeeper, chef and
Teaching children the magic of compound interest can be fun and memorable, and requires shifting the child’s focus from short-term to long-term goals.
