The rise of over-indebtedness is a growing concern not only locally but also for individuals across the globe. Legal action and bad credit records due to non-payment can have serious consequences on people’s financial well-being. In 2022, consumers in South Africa failed to honour a collective debt of R2.8 billion. Similarly, other countries have been struggling with debt issues. In the United States, household debt reached over $15 trillion in the third quarter of 2021, while […]
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Don’t ditch your insurance
In the current economic climate, a growing number of individuals are experiencing financial strain due to the escalating cost of living and rising interest rates. As a result, many are looking for ways to reduce their expenses in order to maintain a balanced budget. Insurance premiums, often perceived as an expendable cost, are among the first expenses that come under scrutiny. However, it’s important to carefully weigh the consequences of cutting back on insurance coverage. While […]
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Common financial planning mistakes
Financial planning can be a daunting task, and it’s common for people to make mistakes as they navigate the complex world of personal finance. In this blog post, we’ll discuss some common financial planning mistakes that many individuals make, as identified by FinTwit contributor Jason Friedman. By learning about these pitfalls and how to avoid them, we’ll better equip you to make informed decisions and set yourself up for long-term financial success. Let’s dive in! Mistake […]
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Retelling your money story
We all know that money plays a key role in our lives, but have you ever considered the money story you’ve inherited from your family? Our money story is a series of beliefs based on how money is spoken about, or not spoken about, within our homes. Just like our hair and eye colour, we inherit money stories as children, and they can significantly impact our lives emotionally. Our relationship with money is highly emotional and […]
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Use AI to learn more
The rapid growth of artificial intelligence (AI) has brought both excitement and trepidation in equal measures. Many see it as a threat to job security, while others believe it has the potential to revolutionise the way we live and work. AI can help you upskill, become more valuable to your business, and create more value in your financial life. As AI continues to advance (faster than ever before!), free educational resources like ChatGPT become more accessible, […]
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The Incredible Bulk
Saving money doesn’t have to send us on a price-smashing frenzy that leaves broken trolleys and disgruntled shoppers in our wake. In fact, panic buying is probably worse for our budget than doing a daily grocery run. With the right approach, buying in bulk can be a smart way to save money on everyday items. If not done correctly, it can lead to waste and even overspending. To maximise the benefits of bulk buying and avoid […]
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From master to servant: how to take control of your money
Money can be both a master and a servant in our lives, depending on how we choose to approach it. As P.T. Barnum once said, “Money is a terrible master but an excellent servant.” Let’s explore what this means and how we can ensure that money serves us rather than the other way around. Money as a master can be a daunting prospect. It can feel like we are constantly at its mercy, always struggling to […]
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The three-legged stool
“Financial security and independence are like a three-legged stool resting on savings, insurance and investments.” – Brian Tracy. When it comes to financial planning, many people focus on investing as the key to financial security and independence. However, as Brian Tracy points out, financial security and freedom require a three-legged stool resting on savings, insurance, and investments. Savings are a crucial component of financial security and independence. Without savings, unexpected expenses or emergencies can quickly derail […]
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Thinking, feeling and acting
Thinking, feeling, and acting are interrelated processes that shape our behaviour, and they often become so habitual in our busy lives that we are no longer mindful of them. We lose control of being intentional about the direction our lives are taking – and this often shows up in our finances. Therefore, it is important to be aware of our thoughts and feelings and how they influence our actions, especially concerning financial behaviour. Essentially, thinking refers […]
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Five tips for investing this year
People have a wide range of feelings and perspectives regarding investing. Some view investing as a way to grow wealth and secure a financial future, while others may view it as too risky or complex. Some of us are confident in our investment knowledge and feel comfortable making decisions independently, while others prefer to seek guidance from financial advisors or investment professionals. Still, others may feel nervous about the stock market and prefer to put their […]
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