On June 1, 2024, President Cyril Ramaphosa signed the Revenue Laws Amendment Bill of 2023 into law, introducing a revolutionary two-pot system. This progressive legislation, set to take effect on September 1, 2024, is designed to cater to the dual needs of long-term financial security and immediate access to funds […]
Debt is a common financial challenge for many South Africans, impacting many individuals and households. Understanding the different types of debt and the options available to manage and eliminate it is crucial for maintaining financial health. This guide provides an overview of the different debt types in South Africa, including […]
The term over-indebtedness applies to those who currently have credit repayments that exceed their current income. In such cases, you could be turned down for a credit application as taking on the additional financial commitment could cause you to be over-indebted. Read: 10 Warning signs that you have a debt […]
Over the past five years, the cost of groceries in South Africa has surged dramatically. This increase presents a significant challenge for households trying to manage their budgets. For instance, a family that used to spend R5000 on groceries in May 2019 now has to shell out approximately R2,280 more […]
Are you at a point in your financial journey where you are looking to save money or cut down on debt? Changing banks might be a smart move. With so many options available, knowing which South African bank will truly help you save money is essential, especially in the long […]
The 2024 election in South Africa has marked a turning point in the country’s political and economic landscape. For the first time since the end of apartheid, the African National Congress (ANC) failed to secure a majority, obtaining only 40.18% of the vote. This shift has ushered in a period […]
South Africa commemorates Youth Day on June 16th, a day to reflect on the progress and challenges the nation’s youth still face. Among these challenges, financial literacy stands out as a critical area where young people can make strides to secure a better future. This article aims to equip South […]
One thing all South Africans know is coming, but they’re not fully prepared for, is retirement. At some point, the life we’ve been living and the way we’ve been dividing our time will change. If you’ve got everything in place, this change, while big, can be as smooth as possible. […]
There are great concerns in terms of the future of South Africa and its current financial state. There are many who believe that South Africa will need to make political changes in order to meet economic demands. With the upcoming elections, all political parties are making promises in terms of […]
The reality of debt and taxes can be quite daunting for South Africans navigating their finances. Luckily, there are some steps you can take to prepare yourself and your finances for the tax changes. The Implications of Debt and Tax Adjustments on South Africans If the tax brackets and rebates […]
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