Also known as The Commutation of Benefits, there are some big changes coming for retirement and provident fund holders. Essentially, these all relate to how the money is drawn (commuted) or re-invested.After being delayed by a year, the Taxation Laws Amendment Act is being put into place on 1 March 2016 (‘T-day’). The legislation changes seek to balance out the tax treatment for the different types of retirement funds.First, there are changes on how much of […]
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Are you an employer?
Many of my clients run their own businesses, employing staff and looking for ways to grow their business. In this busy way of life, it’s easy to overlook or lose track of changes in the legislative systems that affect employers.Here are some important legislative changes will be affecting all employers and retirement fund members from 1 March 2016 (‘T-day’). Seeking to create a uniform retirement fund system for all types of retirement saving vehicles the following […]
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Another 5 Financial Reflections for 2016
Looking forward to another year of financial success means embracing monetary mistakes of the past. More importantly, you need to be honest with yourself about where you currently are and where you want to be.Here are another 5 Financial Reflections from 2015, for 2016:Don’t let yourself be pressured into buying designer goods Branding is such a huge part of the modern consumer society, yet there are generic products that deliver exactly the same level of quality. […]
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5 Financial Reflections for 2016
It’s that familiar time of year when you envision a “new you” and foster a compelling motivation for self-improvement. However, the year always seems to form into an uphill race and once you return to the daily grind it becomes easier to allow yourself to slip-up in your devotions.Reflecting on areas where you have encountered difficulties in the past helps to forge a firmer future. Here are five of my 10 financial reflections for 2016:There’s little […]
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Run your personal finances like a business
Many finance professionals and journalists agree that managing your finances as you would a business is the key to prosperity. Even the best business ideas can fail if the capital and revenue are not carefully monitored. Similarly, if you mismanage cash on a personal level you could find that you’re short of money by the end of the month.Many similarities can be drawn between how a successful business owners operates their company and how a financially […]
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TIPS TO SAVING FOR YOUR CHILDREN’S EDUCATION
Investing in your child’s education is often one of the most important yet challenging saving endeavours you can undertake and as a parent you don’t need any reminding of the urgency to start planning and saving today.Having a baby has financial implications and most new and future parents need to start saving straight away if they want to be financially prepared to fulfil the dreams they hold for their children. Many new parents, however, neglect to […]
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SPRING CLEAN YOUR SPENDING – PART 2
Your finances can use some spring cleaning as much as your house does. Last week we went over some budgeting and account handling ideas, this week we continue with some more ways to get you feeling financially refreshed… Review recurring costs We become accustomed to recurring fees to a point of comfort. Maybe it is time to shop around for better rates on your car insurance, cell phone plan and other subscriptions. You will have a […]
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SPRING CLEAN YOUR SPENDING – PART 1
Clearing out old clothes and a garage full of stuff? While you might be tempted to just dump it all, there are people less fortunate that can use your second hand clothing to keep warm in the evening chill. While you are spring cleaning the accumulated clutter in your house, why not brush up on your finances? Here are some ways to achieve this… Budget maintenance The ever-present spending plan, one of the most important financial […]
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HOME BUSINESS INSURANCE, DO I NEED IT?
So you have started a new business from home, it’s still small beginnings and you wonder to yourself: “What risks are involved that I would need business insurance if I am working from home and have no premises to worry about?”. Whilst your revenue may be small, the answer to the question of whether your business would need insurance depends on whether you are able to self-insure (which is to pay out of your own pocket […]
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5 FINANCIAL LESSONS FROM 2014
When it comes to debt management you need to have some contingency plans in place for those unexpected and uncontrollable circumstances that can put a strain on your cash flow. To best plan for the unforeseeable future, we look to the past and identify trends that may recur in the future: Fuelling Up Looking back at 2014, we saw the price of fuel rise to an all-time high. Placing major strain on consumers and businesses alike. […]
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