South Africa’s weakened Rand is bound to have a negative rippling effect on our economy. The cost of food, electricity, water and imported goods are all set to rise. Now is as best a time as any to take secure control of your finances.Budget According to the National Credit Regulator (NCR), as at June 2015 a shocking 11 million out of more than 23 million credit active consumers had impaired credit records or had failed to […]
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Back to school budgeting
During this time of the year most of our budgets are understandably depleted, with schools going back in two weeks, we should be mindful of back-to-school expenses that are around the corner.This also affords a great opportunity to chat with your kids about the costs associated with their schooling needs. Involving your children not only helps them understand how much time and effort you put into shopping for them, but it sets them up with good […]
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TEACHING YOUR CHILDREN TO WORK WITH MONEY
Every parent wants the best for their children, and the best we can give them is a sure footing in life. One of these areas is intrinsically linked to how they will perceive value in others, value in themselves and the value of things around them. It is hard for children to understand the concept of value for money when they have not worked to earn the money for themselves. When a younger child goes shopping […]
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BUDGET 2015 – HERE’S WHAT YOU NEED TO KNOW…
“Today’s budget is constrained by the need to consolidate our public finances, in the context of slower growth and rising debt.” said Minister of Finance, Nhlanhla Nene. Giving the budget speech was a far from enviable job in light of the huge government spending deficit that needs to be recovered. The speech was a short 26 pages long, but what every person on the street wants to know is: How will this affect me? Remember, the […]
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10 TIPS FOR FINANCIAL PLANNING
Do you want to begin your 2015 financial year on a good note? Then what better time to review your financial plan! A financial plan provides you with the financial security to overcome unforeseen events and map out a financial future for yourself. When creating a financial plan you need to identify key achievable goals that can advance your financial situation. Here are 10 tips for improving a financial plan: You need to have a clear […]
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HOW DOES YOUR BUDGET SHAPE UP IN SA?
Whilst I always view clients within their unique situation and tailor their financial plans to their needs and goals, part of knowing how to guide them involves an awareness of current trends and the economic landscape. One of these measures is found in the Old Mutual Savings & Investment Monitor that was published in early August 2014. Essentially, this survey asks the question: ‘Are you financially comfortable?’ They looked at households from metropolitan areas that were […]
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GAIN CONTROL OVER YOUR MONEY
There is a myth that Ostriches, when faced with danger, bury their heads in the sand. Although it is not found to be true in nature, many of us tend to behave like this when faced with our monthly budget… Financial behaviourists actually call the avoidance of perceived risky financial situations by pretending they do not exist, the Ostrich Effect. This tendency to pretend that all is well or ‘bury our heads in the sand’ instead […]
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PLANNING FOR THE UNEXPECTED
How can you plan for the unexpected… and, if you’re expecting it, then how can it be unexpected? Well, those are good questions! Planning and arranging your spending plan to include the ‘unexpected’ is a wise approach to take. When we talk about unexpected costs we generally mean services or commodities that are over-and-above what you would normally expect, but might be able to find out with some deeper digging. UNEXPECTED ACCOMMODATION COSTS Electricity and municipal […]
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