You are paying a premium in the form of interest for wanting something now that you don’t want to wait for until you have saved the money to buy it cash. Paying interest is the main reason why debt makes you poorer. Without doing the effective calculation to take instalments into account, let us look […]
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Apart from death, the Tax Man is probably the one ‘figure’ many people fear the most and try to avoid at all cost. There is however no need to run away from the Tax Man when your affairs are in order. Don’t try to avoid paying taxes or be dishonest when disclosing your figures. You […]
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The month of February is earmarked for tax with the announcement of the Annual National Budget definitely the highlight that everybody is always anxiously waiting to hear. These are a few highlights that might impact on you as an individual: On 1 April 2018 the Value-Added Tax rate (VAT) will increase from 14% to 15%. […]
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February is known as tax month with the announcement of the National Budget as well as SARS tax year-end for personal tax. Therefore we are mastering 4 basic tax terms this month: Taxable Income Taxable income refers to the amount of income an individual or company will pay tax on. Taxable income is calculated by using the […]
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Budgeting is perceived to be a very boring topic. It is not half as exciting as investments; creating additional income streams or financial freedom. Budgeting is however the foundation layer for financial fitness irrespective what your financial goal might be. Here are 7 steps how to budget effectively: A budget is not effective if it […]
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Love is in the air! It is February and Valentine’s Day is probably the one day on the annual calendar with the largest expenditure attached to it. Many people go full out to show their love for that special person on Valentine’s Day irrespective the costs involved. Unfortunately not everybody has unlimited funding to splash […]
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Businesses should be setting new goals on a regular basis, but at least annually. Goals should be set for the shorter, medium and longer terms. Business goals can include: to grow the client base, to make more profit, to repay outstanding loans or to expand the current products and services. Be specific and realistic when […]
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To get ourselves in a savings mind-set for 2018, we are mastering a few saving account terms: Savings Savings refer to money being set aside for the purpose of future use. Savings generally have a shorter term goal in mind, but can also be used for longer term goals like saving for a deposit to […]
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South Africans do not have a savings mind-set. According to the Reserve Bank South Africans save only 15,4% of its GDP and it is getting worse. These statistics are even more shocking considering that countries like China and India save 50% and 30% respectively of their GDP regardless that they earn less than the average […]
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In the previous blogs we have thought about our financial dreams and how to set financial goals in a SMART way in order to make our dreams our reality. To achieve your financial goals, it is equally important to analyse and understand what your current financial status is. Think of it this way: if you […]
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