There has been much talk around black tax and the negative effects it can have on one’s financial journey. Most people not only feel obliged but are also expected to help out parents, siblings or cousins. Although not an easy topic to write about since everyone’s situation is completely different, here are a few tips on how you can still work towards financial freedom while helping family out.
Communication is so important in any relationship,
Tribe, my hope for you this year is to be courageous in the decisions and actions you take in your finances to build real wealth. I always talk about real wealth, but what is it really? It can mean different things for different people, but since this is a blog about money… it is:
The ability to take care of your needs and family’s needs without being worried when the next paycheck is coming.
The New Year is upon us! With that comes feelings of renewal, hope and many people set New Year’s resolutions to either start going to the gym, eat healthier, further their studies etc, but how often do we set a goal or a new year’s resolution for financial success?
Remember, whatever stage of your financial life you are at, with what you have; you can work towards a financially successful life.
The festive season is fast approaching and with all the braais, cocktail lunches with the girls, travelling with family and the Christmas lunch, your budget can easily be thrown out the window, giving you a financial hangover come January.
Here are some tips to stay on top of your finances throughout the holidays:
Budget for your holiday expenditure
It’s easy to throw caution to the wind with all the festivities happening this time of the year.
You have handed in your resignation, you are excited about you next move then HR hands you forms to complete on what you want to do with your Pension/Provident fund. What do you do? What options do you have?
Whatever the reason you are leaving your current employer for, you need to make the decision on what to do with your retirement fund.
Here are your options:
Transfer your pension/provident fund to your new employer
If you are starting a new job and your new employer has a pension or provident fund,
The spender loves to make money and spend it. They convince themselves that they work too hard and therefore they deserve to enjoy their money. They give little to no thought about savings or investments. They are all about instant gratification. They assume ‘something will come up’ as they spend their last couple of Rands! They are normally in debt and even if they manage to pay their debts,