Blog
The Financial Lessons That Single Parents Teach Their Children
Being financially literate is vital in today’s money-driven society. While many parents may struggle to keep up with their children’s spending habits, studies have shown that - in most cases – children raised by a single parent are more financially savvy than those...
Card Fraud
According to the latest fraud data from the SA Banking Risk Information Centre (Sabric), South Africans have lost almost R4.5 billion to credit and debit card fraud since 2010. Perpetrators use a variety of card fraud methods and keep changing their approach to trick...
Get a pay rise
It’s never easy asking for money. Asking your boss for a salary increase is probably on the top half of your list of least favourable things to do – right in between doing your taxes and cleaning the gutters. But salary freezes are now starting to thaw and this might...
Swapping one need for another
A worrying statistic to say the least, the National Credit Regulators have found that there is a large rise in the amount of consumers pawning in their assets, cars in particular, to secure a loan. Putting themselves and their livelihoods at risk, this is allowed but...
Interest Rates in South Africa
Before South Africa’s recent status downgrade, the South African Reserve Bank (SARB) indicated that inflation might decrease, moving back into the 3% to 6% target range. Usually, when inflation decreases, SARB decreases interest rates. However, bond yields have...
What’s Happening To The Rand?
On the 30th of March 2017, President Jacob Zuma replaced the Finance Minister, Pravin Gordhan. This decision triggered a rating downgrade to a junk status (a non-investment grade) by Standard & Poor’s and Fitch, two of the three big rating agencies in the world....
Africa Rising narrative hit 2016 bump but is ready for New Year.
The African continent is still on firm economic development footing dispite all the ‘Africa rising’ narrative disruption caused by a combination of factors in 2016. After saying goodbye to 2016, the New Year provides us an opportunity to take stock of Africa’s recent...
World has 5 years to change how to earn learn and care – WEF
According to the World Economic Forum (WEF) thinks the world has three to five years to change how it earns, learns and cares in order to transition effectively into a new world order. Saadid Zahidi, WEF’s Head of education, gender and work, said transforming...
All South Africans Can Now Apply for Smart IDs
Since the recent launch of the eHomeAffairs portal, more than 35,000 Smart ID Card and passport applications have been received, said Minister of Home Affairs Malusi Gigaba. Adult citizens of all ages can now apply via the online system. “As at 23 August 2016, a total...
SA Consumers Turn to Credit to Stay Afloat
The high cost of living has sent consumers running into the arms of credit providers. Middle-income groups in South Africa are struggling to afford even the essentials and are slowly approaching the breadline. As the economy deteriorates, middle-class households are...
Eskom to Apply for Another Electricity Tariff Hike
On Wednesday, Eskom reported it had generated R4.6 billion in revenue this year. Two days after, the National Energy Regulator (Nersa) accepted the utility’s application to extend the amount of time it has to submit another electricity tariff hike application. This...
South Africa Loses 15,000 Jobs
According to Statistics SA’s latest Quarterly Employment Statistics (QES) survey, 15,000 formal sector jobs were lost in the first quarter of 2016, to 9.237 million employees. ‘15,000 formal sector jobs were cut’ This fall reflects the economic contraction experienced...
Your Credit Record Explained
Being in the dark when it comes to your credit worthiness is a very bad idea. An identity thief could be taking out credit under your name and not repaying it, wreaking long-term havoc with your record. Next thing you know, you need urgent credit and your applications...
Capitec Bank Freezes 2000 MMM Accounts
Capitec Bank has closed 2000 accounts connected to the MMM Ponzi scheme, said The CEO of the bank, Gerrie Fourie. Earlier this year, Capitec began shutting down accounts linked to MMM and reporting them to the South African Reserve Bank (Sarb). The Ponzi scheme has...
5 Debt Relief Tips for Winter
Many of us seek out debt relief, as the cash-strapped winter months roll in. The chilly season is typically more costly as it calls for extra expenses. Others pray for debt relief during winter, hoping by some miracle we’ll make ends meet. If you want to fight the...
Debtor Management Relentless Problem for Municipalities
Debtor management is still a big problem for most of South Africa’s municipalities, as bad debts continue to prevent them from generating consistent cash flows. This is what the Global Credit Ratings’ Local Authority Industry Bulletin revealed, which assesses the...
How to Protect your Elderly Parents Finances
One day, you will need to take care of your elderly parents finances. As people age, the roles of child and parent often slowly reverse. Elder financial abuse is becoming prevalent. Sadly, caretakers and relatives are often to blame. A single scam can cost your...
Tips to Stay on Top of Credit Card Debt
Your First Credit Card A lot of us tend to overdo it, when we get our first taste of plastic. When you get that first credit card, you convince yourself you’ll only use it for emergencies. Then a long weekend pops up and you’re invited away before payday, so you...
Rand Strengthens to Below R15/$
R15/$ Ceiling Broken Today the rand strengthened to above the R15/$ ceiling for the first time since December, after US federal reserve bank chairperson Janet Yellen’s dovish comments yesterday. Yellen said the bank will be taking a more cautious approach to rate...
Gear Up for a 0.5% Interest Rate Hike
Keeping up with the Curve Economists agree that the South African Reserve Bank's (Sarb's) monetary policy committee (MPC) is likely to announce a 0.5% interest rate hike on Thursday, 28 January 2015 . This interest rate hike of 50 basis points (bps) is far higher than...
Back to School PayDay Loans
Back to School, Back to Reality For a large chunk of South Africans, aside from the classic hangover that comes from overindulgence, the New Year also brings a big, fat financial headache. After shelling out for presents to put under the tree and decadent feasts to...
How to Improve Your Personal Finances
Net Worth and Personal Budget Your net worth is the balance of what you owe deducted from what you own. Make a list of your assets and what they’re worth, then another comprised of your obligations. Subtract the sum of your obligations from the total worth of your...
Regulator Refers Edcon to Tribunal
Club Fees Not Permitted The National Credit Regulator (NCR) has referred the retailer, Edcon Holdings to the National Consumer Tribunal (NCT) for charging consumers club fees on credit agreements - a practice “...not permitted by the National Credit Act (NCA)”....
Get Your Free Credit Report Now!
Want to enhance your creditworthiness? Check up on your credit report to ensure that inaccurate negative listings aren’t dragging your credit score down. Credit Education The National Credit Regulator (NCR) is encouraging consumers to ask the credit bureaus for their...
Get Credit Wise! Change Your Financial Future
Credit Cuts Both Ways Credit is a double-edged sword, as it can be a valuable tool for building up your personal wealth, then again, it can easily sink you into financial ruin, if abused to fund an unsustainable lifestyle. As such, deciding to apply for credit or a...
Truworths Believes Credit Conditions are Better
Credit Conditions On Thursday (August 27, 2015), leading South African clothing chain, Truworths International asserted that it believes credit conditions have improved, as it enjoyed considerable in-store credit sales growth in the second half of the year ended...
The Weakening Rand May Bring Higher Food Prices
Black Monday Consumers may soon face a spike in food prices, as the South African Reserve Bank (Sarb) implements strategic interest rate hikes and the rand plummets against the dollar. On Black Monday, (24th August 2015) foreign investors all over the world traded in...
Pimp Your Credit Score!
If you need to advance or sustain your credit score, taking out a PayDay Loan is a feasible way to do so. Building up a sterling credit score is an insightful investment in your future, as there may come a day when you need a home loan or vehicle finance - and having...
The Importance of Being Financially Intelligent
Are You Financially Intelligent? Irrespective of income level, South African consumers always seem to be under considerable monetary stress. Looking at past and current figures, the sheer level of stress we endure only seems to have intensified over the years....
Reasons to Turn to PayDay Loans
Life is what happens, while you’re busy making other plans. - John Lennon There are some things in life that no amount of planning can prepare you for, and often it’s the capricious spirit of life that allows us to have hope, to fall in love, to enjoy the element of...