Tag: money

DOWNLOAD YOUR FREE DEBT REPAYMENT PLAN: snowball method

Life happens! And this could not be more evident than now with the coronavirus crisis.

Getting into debt is not always that you were living a flashy lifestyle. In the absence of an emergency fund, sometimes people find themselves in a position where life forces them to take care of an emergency through a loan.

Even when you are experiencing an emergency that requires you to take out a loan,

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Our relationship with money can be a complex one, now add love to the mix and lack of communication, it could be a recipe for financial disaster.

That is why it is important to find your financial compatibility early on in the relationship and to do that, you need to start talking as openly and honestly as you can about money as a couple.

Oftentimes the misconception is that because you love one another,

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With the wedding season upon us, the one question I often get from couples is: how do we manage our money now that we live together? And the second most commonly asked question is if they should open a joint bank account.

Before we get into the advantages and disadvantages of a joint bank account, you and your partner first need to decide on the type of marital contract you want to enter into.

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I recently had a coaching session with a woman who is going through a divorce, she had reached out to me because she was expecting a cash windfall from the divorce settlement and she wanted to know that she would be making good financial decisions.

A cash windfall can come in different ways; winning the lotto, an insurance payout, an inheritance, a retrenchment package or a divorce settlement etc.

While we all wish to for a cash windfall that will change our financial lives for the better;

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Having kids can be an amazing and fulfilling experience, but believe me, it comes with a lot more than just the beautiful nursery and the cute clothes; having a baby comes with many costs and decisions that impact your overall finances, and often we underestimate these costs and decisions.

  • EDUCATION

Education is one of the biggest expenses for parents. The cost of education year on year normally exceeds inflation.

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Last week, I did a radio interview on how to deal with financially abusive relationships, and I realized that a majority of people get into relationships but hardly ever talk about how they will manage their finances as a unit.

From the time you say ‘yes’, the next question should be what marriage contract will you enter into. Unfortunately, many couples don’t discuss all the options available to them.

I think it’s difficult to have this type of conversation because essentially,

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Missed our previous podcasts?

 

Take a listen below, I have included the most listed to podcasts from the previous weeks.

  1. Why it takes forever to reduce your home loan, Maya Fisher-French and I discuss why that extra R500 into your home loan makes such a big difference and why you should start saving for your kids’ education.

 

Today’s podcast:

2.

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Black Tax: When a young person shares their income not only with their immediate family but with extended family as well, this means that they financially support their own kids, their parents and oftentimes aunts and cousins as well. It is the sandwich generation.

In my personal experience, black tax has not been burdensome, I give my parents money from time to time to help out with just a few things. My oldest sister might have a different recollection!

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Whether you want to start saving, investing or to pay off debt, it might seem impossible with your budget. Well, that’s what most people feel when approaching their finances; that there isn’t enough money to start with. But I want to show you a couple of places to look in your current budget to find the extra fat!

DSTV

You knew this was coming. Your DStv subscription is easily one of the things you can do without.

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There is a world of options when it comes to investing. Even a small amount can go far. Stick with it and it will work.

One of the most frequent questions I get is: “What can I invest in as a first-time investor who doesn’t have a big cash flow?”

This question excites me, as there are quite a few options available to investors, regardless of what they can afford. It goes to show that investing is not for the rich only,

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