We have all made bad financial decisions but the key is recognising when you are heading into real trouble and need to make a U-turn, which means changing your behaviour. "If you are taking on debt just to cover your everyday expenses, are never on top of your finances or if you are generally panicked when you think about money, then it is time to take control and make a financial U-turn," says Eunice Sibiya, Head of Consumer Education at FNB. Here are a few ways to identify and make a … [Read more...] about Do you need to make a financial U-turn?
finance
South African finance minister forced to walk a difficult political tightrope
South African finance minister forced to walk a difficult political tightrope by Nelson Mandela Metropolitan University Articles: South African finance minister Pravin Gordhan had to tread carefully to please many competing interests in his budget. shutterstockThe budget presented by South African Finance Minister Pravin Gordhan showed a great balancing act. The minister gave welcome tax relief, found money for higher education and continued the country’s economic stimulus packages. He also … [Read more...] about South African finance minister forced to walk a difficult political tightrope
Teach your children well
Assuming that children don't need to know about finances until they are actually earning money is a big mistake. Finances are such a big part of everyday life and good financial habits will benefit your children for the rest of their lives. An essential aspect of this is the importance of credit and how it can work for or against them. "Most people will need credit at some stage in their lives and it is important for parents to teach their kids to understand the basics behind how credit works … [Read more...] about Teach your children well
Residential Building and Fixed Investment remains low
As at the 2nd quarter of 2015, the SARB (Reserve Bank) reported low levels of Residential Fixed Investment relative to the size of the country's economy. At 1.4% of Gross Domestic Product (GDP), the level remained well below the 2007 high of 2.7% of GDP, a level that had been reached at the back end of South Africa's greatest residential boom on record. The completion of the 3rd quarter 2015 residential building picture, with this week's release of StatsSA Building Stats, suggests that the level … [Read more...] about Residential Building and Fixed Investment remains low
No let up for Kings’ financial worries
Unpaid player wages continue to mar the cash-strapped Eastern Province Rugby Union. According to SA Rugbymag, the union is facing a deadline from the South African Rugby Players Association (SARPA) to make player payments by Tuesday. After problems over payments arose again at the end of October, SARPA issued a written 10-day notice for the Kings to pay outstanding salaries or face action against them. The cash-strapped union was unable to pay players for several months earlier in the … [Read more...] about No let up for Kings’ financial worries
Thursday SACP protest could disrupt Cape Road Traffic
The South African Communist Party (SACP) in the Eastern Cape is set to march to the Port Elizabeth offices of South Africa's big banks on Thursday, November 5, calling for transformation in the financial services sector. This follows the establishment of a Financial Sector Campaign Coalition (FSCC) by the SACP. The PE march under the banner of 'Transform Financial Sector to Serve the People' is set to take place at 09h00 from Greenacres to FNB in Cape Road. Speakers will include SACP's … [Read more...] about Thursday SACP protest could disrupt Cape Road Traffic
The uncertainties of car finance
"Always look at your car purchase as a timeframe. WesBank's data shows that more consumers are choosing to finance their car over 72 months (six years). So you need to ask yourself what might happen during that time that could affect your budget or choice of car," says Rudolf Mahoney, Head of Brand and Communications at WesBank. "If you plan on marrying and starting a family, make provision for these costs in your household budget. And also ensure that the car you're looking at has room for a … [Read more...] about The uncertainties of car finance
Life Changing Events that impact on your ability to pay for that car
Buyers who are in the market for a new car should budget for more than just the purchase price and running costs. Being prepared for change - whether it's planned or not - is a worthwhile exercise. This is one of the reasons that WesBank advises all car buyers to buy well within their means, and leave room in their budgets for savings and unexpected expenses. A little forward planning can go a long way to ensuring that today's car purchase doesn't become tomorrow's worry on wheels. We live in … [Read more...] about Life Changing Events that impact on your ability to pay for that car
Be smart when buying a home
While saving up a deposit to purchase a property is a great financial feat, there are several other financial considerations that buyers need to keep in mind when preparing to purchase a home, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa. “Having savings set aside is a major part of preparing to buy a home, but there are also several financial missteps that buyers can make that will complicate their prospects of being able to purchase a property,” says Goslett. … [Read more...] about Be smart when buying a home
Local Company wins International Mortgage Banker of the Year Award
The Trust for Urban Housing Finance (Pty) Ltd (TUHF), announced today that it has won an international award as the Mortgage Banker of the Year at the recent African Banker Awards while celebrating 10 years of a Good Business, doing good. The ceremony took place during the African Development Bank Annual Meetings at the Taj Palace Marrakech, Morocco. The international awards are a landmark event that celebrates excellence and best practices in African banking and finance. Paul Jackson CEO … [Read more...] about Local Company wins International Mortgage Banker of the Year Award
Port Elizabeth Consortium Wins National Tender
Port Elizabeth-based company, Finfind (Pty) Ltd, has won a national tender to roll out finfind - a web-based guide to finance for small businesses. The finfind program was developed with support from USAID after access to finance was identified as one of the biggest challenges facing small to medium businesses, according to Kirsten Kennedy, SME Business Services Specialist for USAID's Financial Services Sector Program. Finfind competed against a number of other companies around the country … [Read more...] about Port Elizabeth Consortium Wins National Tender
