Practical money guides for South Africans
Practical guides to budgeting, debt management, credit scores, loans, insurance, and everyday money decisions for South Africans.
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.
How Long Does MPOWA Take to Approve Loans? Complete guide for South African residents Last updated: October 2025 Quick Facts Approval decision: Within minutes to 1 hour Money in your account: Same day if you apply before 3pm Application time: 5-10 minutes online Loan amounts: R500 to R8,000 Table of Contents 1. How Fast is … Read more
How Do I Know If My FinChoice Loan Is Approved? Complete guide to checking your loan approval status Last updated: November 2025 Quick Facts Approval time: 10 minutes to 24 hours if documents are correct Money in your account: Within 24 hours after approval (if submitted before 3pm) You get an SMS and email when … Read more
Complete guide to the Woolworths credit card. Application requirements, interest rates, rewards, and how to manage your Woolies account.
Gap cover is an insurance product designed to bridge the payment shortfall between what a medical aid scheme covers and the fees that medical professionals charge. This coverage is important in scenarios where in-hospital or out-of-hospital medical procedures are more expensive than the amount provided by the standard medical aid. Individuals often find themselves paying out of pocket for the difference, which can be financially challenging. Gap cover offers a solution to this problem by topping up one’s existing medical aid coverage, ensuring that these additional costs are not a burden.
Medical aid members can benefit from gap cover by securing an extra layer of financial protection against these potential shortfalls. The cost of gap cover varies, with some providers offering individual plans, while others have options for families. Premiums are typically affordable, with some starting from a monthly fee and scaling up depending on the level of coverage required.
Providers of gap cover insurance often market their plans with a variety of benefits, such as additional cover for specific treatments like chemotherapy, radiotherapy, and surgical procedures like joint replacements. Additionally, certain gap cover policies may extend to cover international medical emergencies and specific events during the later stages of pregnancy. Prospective policyholders are encouraged to evaluate their needs and compare various gap cover offers to find one that best suits their circumstances.
RCS Loans: Complete Guide to Personal Loans in South Africa Everything you need to know about borrowing from RCS in 2025 Last updated: November 2025 Quick Facts About RCS Loans Loan amounts: R2,000 to R300,000 Repayment period: 12 to 60 months Interest rates: 15% to 28.75% per year Money in your account within 24 hours … Read more