south africa

EDIT/UPDATE (6 days later - 3rd of May 2024): I updated the calculation table below. What's best seems to be down to being able to earn FNB eBucks when paying for your Municipality and Electricity via the Clicks App and Website. If it does still give you 15% back in eBucks, then the FNB Credit...

So long story short Vodacom has turned down my application to take over my contract from my folks due to my portfolio being too low... Only got a credit card a few months back and don't have any other active accounts. I am paying for it anyway through changing the debit order details to my own...

I am currently in the second year of my TFSA. The only investment I have is the S&P 500. I believe I need to diversify outside the US dollar a bit. I am looking at the Satrix MSCI world, but I get it, a large portion of this fund is similar to the S&P 500. Is there a type of world fund that...

Hi, I have the following self-made investment plan and was hoping to see if there are any holes in it. How it this looking to you? **General Plan:** Max out my TFSA (36k) account on Easy Equity every January using bonuses (is this the best idea?) Objective is to invest R1,000 - R25,000 per...

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His right hand was damaged and he’s getting a monthly grant from the government cos he can’t work no more. McD’s paid him last week for his injury. Just over R400 000. He wants me to go with him to choose what car to buy. He asked me to recommend what car. I’d like to know what car is a good...

So I (22/f) started saving up last year, randomly, when I got my first job and have ended up with around 20k in dec 2020. I’m currently sitting with that amount in my savings. A lot of the advice I see towards young people on the sub is that you shouldn’t invest long term very early because...

I enjoy seeing progress posts on the F.I.R.E. community page, but have never seen a RSA version, so thought about doing one myself. This really isn't supposed to be some brag post, personal finance is just something I'm very passionate about and I'm hoping that it can inspire others to save more...

Inheritance - recently lost my father, and about 5 years ago, he bought an apartment in Stellies in my name as an investment. The property brings in R16500 in rental monthly. When we bought the apartment, we only bonded R400 k in 2019. I also inherited about R1.4 m in cash, and I have about...

I saw this post on FB the other day and would like to know if this is applicable to South Africans too: “Make sure all bank accounts have direct beneficiaries. The beneficiary need only go to the bank with your death certificate and an ID of their own. TOD = Transfer On Death deed if you own...

hi there! i’m (19F) saving up to travel for a few months once i graduate (2025/2026). i’m currently earning about 6-7k p/m. would it be best to put my money in a savings account (about 5 - 8% interest) or a forex account since the rand is getting weaker? if i should do a forex account, what’s...

Hi folks. I've decided to become a grown-up and make active decisions about my future. One of those has been to reassess my RA. About 10 years ago I unthinkingly did what my parent's financial advisor said I should do and started contributing to a Sanlam Glacier RA. While not the most expensive...

Hi! I'm a student and and I was recently gifted R100000 by a godparent completely out of the blue. I've never really dealt with large amounts of money, and have been living in an apartment owned by a family member while being able to mostly pay for my own food with income from tutoring. Before...

Hi, everyone. I want to buy my first car before the end of this year. I'm looking for a new economical car that can get me from point A to point B. Speaking from experiences in purchasing a car, I'd love to hear any advice that I can keep in mind. Some questions I have: 1) Pre-approved loan...

My (26M) cousin (22M) was awarded a settlement of just over R1m in cash (post-tax). I thought it prudent to check our ignorance here before he commits to anything, although I have advised him to consult a CFP® (please recommend one) and tax adviser/practitioner. BACKGROUND He is currently a...

Edit: Please message me if you'd be open to moderating this sub Welcome. I'd like to start this sub off with a list of my own favourite resources for money management. Please comment with your own below, and I will compile a master list as time goes on. Facebook groups to join (highly...

Howdy guys I’m in the process of registering my startup company. I need some advice on what bank accounts would be the best option please, I.e most cost effective. So far according to my research I’ve found Absa which has a business acc with R0 monthly charges, as well as TymeBank business...

I'm a 40 year old married male, 2 young kids, wife. I have just over R1mill worth of savings in my flexi home loan (balance currently around R700k with the savings in the account). I put it there to hopefully save on the interest I pay at 6.9%. I then have another R800k sitting at another...

I 27M would like to know if it's worth it to buy a car or to take in on rental subscription like the kinto one from toyota. I am fairly an indoor person, I gave up on drinking and smoking 5 months ago. my workplace is 15 minutes away using public transport which cost me R700 monthly and I use...

Hi everyone, I am starting a new job and have two options for joining a retirement scheme through my employer. Do any of you perhaps have any experience with or advice to offer on which one of these two would be the best in the long run. Employers Provident Fund – Administrated by...