Much like an adult diaper, if you're planning on a traditional retirement strategy, the sh!t could very well hit the fan without one. First things first The word Annuity refers to a fixed amount of money that is paid to you on a regular basis, for a specific amount of time. "Waaaaaaaaaaaait-a-second. But I'm paying … Continue reading What is an Annuity?
For all our good intentions, personal finance blogs, tweets and articles can make you feel like there's too much to do, too much to know and always, always too little money to get all of it done. Bond repayments, car insurance, life insurance, dread disease, school fees, emergency funds, saving for tertiary education, saving for … Continue reading Where to Focus Your Finances
Starting with the worst, here's a list of the seven biggest mistakes I've made with money. lawd hammercy 1. Abdicating responsibility for managing my finances Sure. I came from a home where dad did all the money making and mom did all the baby baking. But in the interests of calling bullsh*t on myself and … Continue reading My Biggest Money Mistakes
Five nights a week, I am up to my thank-you-90's-over-plucked eyebrows in Financial Planning textbooks, and I'm going to be brutally honest about something: The Finance Industry is complicated. The people running this sh!t have made it difficult to understand. And they have done it on purpose. Case in point? Here's my calculator. Tell me … Continue reading Nominal vs Effective Interest Rates
...there's a family left behind, who has one less administrative nightmare to deal with, at a time when they are least emotionally able to. Where there's a well-thought-out financial strategy, there's a sense of order, when nothing else makes sense because you were taken from us so unexpectedly. And it still doesn't feel fair. Where … Continue reading Where there’s a Will…
When you're assessing potential career paths, you're confronted with interplay between funds, fun and fulfillment. Choose a career based solely around your interests, say, Italianate garden designs of the 17th century, and you'll end up in a job which is fun, but not going to pay astronomically well, and is unlikely to deliver on that … Continue reading My big financial goal
Piggy Bank a la Donald Trump If you don't already have an emergency savings fund, this is a really good place to start your journey to financial enlightenment. You can read about why you need one here. I've been diligently building up our emergency reserves, but until the day I can make like Scrooge McDuck, … Continue reading Where should I keep my emergency savings?
There's only one thing worse than spending the entire day comparing all the different savings accounts South African Banks have to offer... And that's getting to the end of the day and finding out that there's a website for that. To save you a day wasted, I'll put a link to the website in question. … Continue reading Comparing Savings Accounts
In my twenties, my mantra was pretty much, it wasn't worth doing if there wasn't at least a small chance of being arrested, hospitalised, or both. And I managed to pull off one of those options more often than I should probably admit. And then I became a mom. And I'm convinced that the very … Continue reading What is Risk?
It turns out, it's sorta like the Reserve Bank saying to everyone: "I'm gonna make you an offer you cannot refuse." Say hello to my little friend There's one big central bank in South Africa, and it's called the Reserve Bank. Think of them as the Godfather, if you will. The Godfather is in charge … Continue reading What is the Repo Rate?