Tax Free Savings Accounts (TFSAs) are one of the most underappreciated investment vehicles in the country. So, it's rather difficult to understand why most people still don't use them. They're one of the only tax efficient vehicles that come with almost no negatives.
What is a TFSA?
It’s an investment vehicle in which all income or growth on investments held inside are tax-free. This includ... ››› more
If you've been thinking of buying a new car, think again.
Buying a new car is generally a bad investment because it depreciates in value quickly and has high monthly costs.
Like most bad investments you make, the decision to buy a new car is ultimately driven by your emotions. You want to be the envy of your colleagues, friends and family pulling up in a spanking new vehicle.
Slick car... ››› more
If you want to start investing but you don't know where to start. I want to show you five ways to save enough money so that you can start investing your money as soon as possible.
Most people believe that it's difficult to save your money but this isn't true. You just need to take a good look at your financial situation and the services at your disposal to find the money you need.
Sometim... ››› more
What if I told you there's a simple way to knock six years off your bond repayments and save R302,084.63. in the process?
Would you believe me if I told you that you can pay your bond off faster, without increasing the amount you pay each month?
In fact, you won't have to make any drastic changes to your lifestyle at all. I've found a special solution to help you do just that. Just wait un... ››› more
Eskom's admitted that it's struggling to keep the lights on. Existing power stations don't produce enough power to support demand.
The coal industry and leading mining media are not convinced that Eskom will get enough coal to run its power stations.
When this happens, the blackouts we know so well will get worse. And we'll be paying Eskom even more because tariffs are constantly increasing.... ››› more
If you're looking for a way to save that's unique to South Africa, you have to consider a stokvel.
So what is a stokvel? How do they work? And how can you use one to save?
Read on to find out more…
What is a stokvel?
A stokvel is a club consisting of 12 or more people where each member contributes a fixed amount of money on a regular basis, explains Wikipedia. Its origins date bac... ››› more
Managing your monthly income can be a difficult task. There are so many expenses and bills to pay.
But you have to allocate a certain amount of money to put into savings so that you can start to build a nest egg.
Having savings in the bank gives you financial security. And importantly, it means you can let compounding work.
Let's take a closer look…
What are your financial priorit... ››› more
Financial planning involves all aspects of dealing with your money now and into the future.
It's vital to have short-term, medium-term and long-term goals as part of your financial planning strategy. To meet some of these goals, you may need to look at savings vehicles to help you get there.
So are government retail bonds worth considering?
Let's take a closer look…
What are gover... ››› more
It's prudent to have a cash emergency fund to tide you over if something unexpected happens. It's also a good idea to hold some cash as part of your investment portfolio.
So where should you keep your cash?
You need to weigh up the returns…
Keeping your cash in the bank
Keeping your cash in the bank is one of the safest ways to store it, but it’s also likely to give you the poo... ››› more
If you're looking for a long-term savings vehicle, government retail bonds are definitely worth considering.
So how do government retail bonds work? What are your options? What are the tax implications? And how can you make the most of them?
To discover the answers to these questions and much more, read on…
The ins and outs of government retail bonds
Government retail bonds, or RS... ››› more
Investing in government retail bonds is a good savings vehicle to consider if you want to lock your money away for the longer-term.
By lending money to the South African government by buying these bonds, you receive two interest payments a year until your bonds mature.
But should you take your interest or should you reinvest it?
Let's take a closer look…
The interest you receive f... ››› more
With interest rates still at relative lows, if you want to save money it can be difficult finding a decent rate of interest.
If you want to lock your money away for a specific period of time, you should consider investing in government retail bonds.
So what exactly are government retail bonds? And what are the advantages of investing in government retail bonds?
Let's take a closer look…... ››› more
Government retail bonds (or RSA Retail Bonds) can be a useful savings vehicle. But like all other sources of interest and income, you may have to pay tax on your gains.
So when are you liable to pay tax on the interest you receive from government retail bonds? And is there anyway round it?
Read on to find out…
How government retail bonds work
From just R1,000 you can invest in govern... ››› more
Government retails bonds are bonds aimed at the South African public.
When you buy these bonds, in return for lending your money to the South African government, you'll receive twice yearly interest payments until your bond matures.
By buying bonds, you invest your money for a specific period of time. And this makes them a very useful vehicle for saving for a particular thing or event.
Le... ››› more
In March this year, the National Treasury introduced tax-free savings accounts.
The main reason behind the treasury introducing these accounts was to encourage South Africans to save, especially those on lower incomes. Saving is something many South Africans aren't good at.
So what exactly are tax-free savings accounts? And what should you need to watch out for?
Read on to find out…
... ››› more
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