Practical money guides for South Africans
Practical guides to budgeting, debt management, credit scores, loans, insurance, and everyday money decisions for South Africans.
An alarming situation has unfolded for some individuals who believe they have cleared their medical debt only to receive communication from debt collectors asserting the existence of outstanding payments owed to a hospital. This unexpected turn of events has left many pondering their next course of action and how to navigate these unsettling waters. The … Read more
Understanding Provident Funds in South Africa Complete guide for South African workers Last updated: December 2024 Quick Facts Provident funds are employer-sponsored retirement savings accounts The two-pot system started on 1 September 2024 You can withdraw from your savings pot once per tax year Contributions are typically 5% to 15% of your salary All withdrawals … Read more
The 183-Day Rule and Passive Income Tax in South Africa Complete guide to tax residency, exemptions, and how your passive income is taxed Last updated: December 2025 ⚡ Quick Facts The 183-day rule only applies to foreign employment income exemption – NOT to tax residency Passive income (dividends, interest, rental) does NOT qualify for the … Read more
Overdraft vs Personal Loan: Which is Right for You? Complete comparison guide for South African residents Last updated: December 2024 Quick Facts Prime lending rate: 10.75% since 25 September 2026 (SARB) Overdraft interest rates: typically 18% or higher per year Personal loan rates: from 10.73% to 27.5% depending on credit score Both options are regulated … Read more
Navigating Tax Number Discrepancies: What to Do When Your Tax Ref Number Disappears Imagine paying your taxes diligently for four years and then discovering your tax reference number has vanished. This perplexing situation recently arose for a 24-year-old permanent resident of South Africa. Here’s the story and what you can do if you find yourself … Read more
How to Exchange PayPal Dollars for ZAR Efficiently If you’re looking to convert your PayPal dollars to South African Rand (ZAR) without spending too much on fees, you’re not alone. Many people are searching for the best methods to do this. Let’s explore some options available to South Africans. Why Avoid Traditional Banks Like FNB? … Read more
How to Improve Your Finances in South Africa Simple steps to take control of your money and build a better future Last updated: December 2024 Quick Facts South Africa has one of the world’s lowest savings rates at 0.13% Over R2.7 billion lost to financial fraud in 2024 You can get free debt counselling through … Read more
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.
A stokvel is a traditional South African savings or investment society in which members regularly contribute an agreed-upon amount of money to a central fund. The origins of stokvels date back to the early 19th century and they have since become ingrained in South African culture.
They serve as an informal financial institution where members can pool resources for various purposes such as bulk purchasing, social events, or providing mutual financial support.
In short: Mpowa Finance’s FAQ says money is aimed for the same day by 5pm, as long as they get your documents and can complete employment confirmation that day. Before they release the loan you must authorise their DebiCheck: they say before 4pm on weekdays (and 11am on Saturdays). Approval is still subject to affordability … Read more