HOW MUCH DEBT IS TOO MUCH? While there is no definite measure, there are ways to determine if you’ve taken on more than you can handle. If you cannot pay all your household expenses, including your debt repayments, you have a problem. It may be that you have too much debt,but it
A recent social experiment highlighted that many South African households have more money than they realise tied up in unwanted goods and that disposing of these assets could be their survival ticket in tough economic times. The experiment set out to prove that most households could
Steinhoff has lost millions after accounting irregularities came to light earlier this month. In a case that may well result in charges of fraud, some of the company’s most senior executives could be sent to jail. The most exposed investors are pensioners,
THE National Budget Speech on February 21 this year is likely to attract more interest than it has on many occasions previously. South Africans have become accustomed to a National Budget characterised by inevitable increases in the
VAT should be dealt with cautiously and if the hike is rejected, then Parliament will have to find alternative options to fund the revenue gap, according to chair of the Standing Committee on Finance Yunus Carrim. He was delivering the concluding remarks to
A question raised about the 1% value-added tax (VAT) increase to 15% as from April 1 2018, as announced in Budget 2018, is how it will affect fixed property sales currently in progress or under negotiation. Leonard Willemse, senior tax consultant at Mazars, explains this question stems
Shrinkflation, an unpopular term among consumers, is the process of items shrinking in size or quantity while their prices remain the same. Manufacturers engage in this practice to make money. Angelique Ruzicka has some tips on how to beat them at their own game Manufacturers often want to increase
Consumers who decide to reduce their savings by even R100 or R200 per month to buffer against the impact of the 1 percentage point VAT increase, are effectively robbing themselves of the benefit of compounded growth. Compound interest is essentially the addition of interest
There’s a saying that goes: “A fool and his money are soon parted.” While you may not lose all your money by making these financial mistakes, you could certainly lose some of it and even incur penalties and fines. Here’s a list of the silly things people do to lose money and solutions to avoid
A money market account is essentially a short-term investment account which is held with your bank. One gets various formats of a money market account, such as a 7-day or 32-day account. This type of account is an ideal “parking bay” if you will be using the money in the next year or two.