personal finance in south africa

I have had some major life changes over the last year. I' ran my own business for around 7 years until it basically collapsed. I then made a difficult decision to move across the country and start from scratch. I still had 2 vehicles, some retirement & medical policies and survival money...

For context, I’m a foreign national in South Africa, and received my first ever ID book as a permanent resident today, having received the PR around 6 months ago. As soon as I received PR status, I started working as a sales agent. I’ve been paying 25% of my earnings into my company’s trust as...

I’m foreign and have hired a team of South Africans. Most are are young, 1-3 years out of school, and have few financial responsibilities. Not married, no kids, living with family, paid off student car, etc. I like to think I’m paying them well. The lowest paid employee makes over 20K/month...

Hi all! I’m hoping someone can help me, since I’m ignorant on this topic. Last week I was on holiday with my hubby and my in-laws. Once we arrived at our destination, my MIL excused herself and said that she just has to do something on her laptop. She excitedly explained that she has started...

Hi all. I'm a 19yr uni student. I've been interested in learning about in investing for a while but have been lost where to begin, and would really appreciate any help anyone has to offer on the matter. For context, my monthly earnings are R3650. My only fixed expenses are gym(at R250 p/m) and...

I'll cut the the chase. I know anything could happen but lets say the rand is going to continue to decrease in value compared to the USD. Lets say I invest in an ETF like the S&P 500 on the ZAR account on easy equities. If I do that would I still be able to get the growth of the Rand - dollar...

I just received dividends from my 10X Total World Feeder ETF (TFSA) and was taxed at about 30% on the global dividends, Satrix MSCI World ETF doesn't distribute dividends, would this mean that there is no tax implication on these essentialty meaning I save the 30% because they don't pay out the...

Hi Reddit! Very recently I was presented with the opportunity to buy some used camping equipment at some pretty crazy prices. I decided to move on a hunch and buy some of with the intention of reselling it. Mostly just some authentic 3 x 3 x 2.5m canvas tents, ground sails and Campmaster...

Hi folks! I'll be doing some traveling later this year from May onwards, and am trying to establish the most cost effective way to spend my rands overseas. Two options have presented themselves: 1) Open overseas foreign currency account Convert my rands to foreign currency (e.g. using...

Hi everyone This might not be entirely relevant for PFZA, but I’m thinking about switching banks and between fees, rewards, lounge access etc., there’s a lot of options. Got me wondering why people choose the account they do. So, would love to know who you bank with, why you bank with them...

Hi there fellow redditors! Seeing that it's self-promotion Thursday I thought it good to share with you a drive we have at our brokerage - The Insurance Hub. We offer free wills or testaments for South African citizens. If you would like to make use of this offer, just follow the link and one...

I currently have a Renault Duster 1.5, 2017 model. It will be paid off by next year June. I would like to be without vehicle debt and the monthly "extra" I will have is about R5500. My concern is though, Renault has no resale value. I bought the car in 2017 at R300 000 and it is already at only...

Dear PFZA Community (I'm posting under a new/anonymous account to protect privacy) We have recently committed to purchase a home in ZA, which we will refer to as "Investment Property C". I would like your advice over whether we should sell or hold what I will refer to as "Investment Property...

I am 23M and have managed to increase my credit score rapidly (at least that's what I think ) in just a few months . before this I had never taken any type of credit that's why my score was Zero , I was scared because I saw what credit debt did to my family and people close to me but I finally...

Hello! Following the success of our first AMA featuring @jesusapproved, who would you like to hear from next, or on which topic? Please also message me if you are keen to host an AMA yourself or if you are connected to a person who would be a good candidate. We'd love to hear from you! Find...

Do I need it for my first car? What is it even? I have a 20K emergency fund and at the moment I feel I don’t need car insurance on my first car, which is going to be second hand. Currently looking at a 2003 Mazda Mx-5, so it’s a 20 year old car… if not that it might be something like a 2010...

I (M19) work in the US as a seasonal worker. I make good money, but I have no idea what to do with it or how to invest it. I'm only employed for 8 - 9 months a year bc of my visa. I don't have any monthly cost whatsoever. and I also don't have any credit. In 2023 I made about R500K but I bought...

I am in a position to comfortably invest 27.5% of my income to an RA in 10X which ( 5% is mandatory by my company), there is no match.However, I am going financially strong and I believe that I should be able to retire by age 45-50. My concern is, I just feel like only being able to get 1/3rd...

Hi all, I have asked a simular question in the past, but like from Friday until now, the Satrix S&P500 lost 4.5% value, I get its different and there are multiple factors, but surely if the actual S&P500 goes up by 1% the Satrix one should not fall by 4.5%, that's a massive 5.5% difference...

Hey guys, so today I’ve seen 2 posts here about E-bucks, and I’m wondering if it’s really worth it? I currently bank with Nedbank, which has greenbacks but it’s not so good. So in E-bucks really worth it? And is it hard to level up ? Thanks Edit thanks for all the replies , I’m going to...