Digital Financial Education
N N Buying a home is one of the biggest financial decisions anyone will make.
When it comes to home loans, understanding what a good interest rate is can save potential homeowners a lot of money.
A good interest rate for a home loan typically hovers around the prime rate or slightly below, depending on your credit score and the specific terms offered by the bank.
As of September 2023, the prime rate in South Africa was 11.75%, but individual rates can vary based on personal financial profiles.
Saving and investing as a student may sound challenging, but it’s a vital step towards financial independence. With careful planning and the right strategies, students can start building wealth early on. The key is to create a budget, handle your money wisely, and take advantage of low-fee student bank accounts.
Investing in the stock market can seem daunting for beginners, but it’s a powerful way to grow wealth over time. Whether you’re exploring stocks for the first time or you’re looking to refine your strategy, understanding some key tips can make all the difference. One of the most vital pieces of advice is to prioritise diversification. This means spreading your investments across different sectors and types of stocks to reduce risk.
Dealing with family members who make bad financial decisions can be challenging and stressful. These money problems can ripple through the entire family, impacting financial stability and creating tension. Setting clear boundaries and maintaining open communication are crucial steps. It is important to approach conversations with empathy and understanding, as this helps to minimise defensiveness and promotes collaboration in seeking solutions.
Planning for retirement can seem daunting, but a retirement annuity (RA) in South Africa offers significant tax benefits that can make it worthwhile. Contributions to an RA are tax-deductible, allowing you to reduce your taxable income by up to 27.5%, capped at R350,000 per year. This means you can save a considerable amount on your annual tax bill while securing your future. The tax savings alone can make a big difference in your financial planning.
Saving money can be challenging, especially when taxes eat into your returns. A Tax-Free Savings Account (TFSA) offers a way to grow your savings without this worry. If you are considering investing in a TFSA in South Africa, Sygnia’s Tax-Free Savings Account is a solid choice. It allows you to save for short or long-term goals with the added benefit of not paying taxes on any growth or income.
Buying a home can be both an exciting and nerve-wracking experience. One of the most important aspects of this process is mastering the art of negotiation to secure the best possible price. Understanding how to negotiate effectively can save thousands and make the dream of owning a home more attainable.
Considering using a credit card to buy a fridge and other household goods is a common dilemma. It’s easy to be tempted by the idea, especially when stores often offer attractive deals on big-ticket items. If you can afford to pay off your credit card balance in full each month, using it for such purchases can actually be pretty smart.
In the age of digital connections, Facebook has become a bustling hub for South Africans to connect, share, and discover. Unfortunately, it’s also a prime target for scammers. To keep your online experience safe and enjoyable, here are some key tips and tricks to avoid falling victim to Facebook fraud. 1. Spot the Red Flags … Read more
Thinking about King Price Insurance? Many customers have shared their experiences, and opinions seem to be quite positive. A significant number of reviews praise King Price Insurance for offering fair and affordable premiums that match the real value of clients’ assets. This means you likely won’t pay for unnecessary coverage, which is a big plus.
