Finances is an integral part of any business. Let us be honest there is no sense in running a business that is not profitable unless it is for a charity cause. The sad reality is that plenty of business owners don’t spend a lot of time on managing and analysing their finances. Finances is often perceived to be boring, complicated or only a support function within a business. The truth is the better you manage your finances, the more successful your business will become. The better you know your numbers, the more powerful decisions you can make. You can outsource your finance function or appoi ..read more

This webinar was recorded to celebrate Money Smart Week South Africa. Start a Business and Become Financially Independent. In this webinar I share how starting a business can help you to create multiple sources of income, create wealth and ultimately create financial independence. I also discuss 10 steps how to start a successful business. If you are an aspiring entrepreneur or a business owner still in start-up phase, this webinar will certainly help you gain more insight in starting a small business. 10 Steps how to start a successful business: What is your business idea? Will you be of ..read more

Investments play a vital role in creating financial stability and adding muscle to your wealth portfolio. The more you can invest today, the stronger financial future you can create. To make smart investment decisions, you need to understand a few investment concepts and principles. Educate yourself about investments and ensure you understand the basic concepts: Compound interest – earning interest on interest. Risk and Return – risk is defined as the uncertainty that an investor is willing to take to realise a gain from an investment knowing that a loss can be realised as well. Low risk is ..read more

Debt is probably the biggest thief stealing financial freedom from people. Once in the trap of having too much debt, it becomes increasingly difficult to get out of this situation. People are trying to survive to the next payday in order to use their salary to repay debt for expenses they already incurred in the past. Debt prevents people from saving and creating an investment portfolio. High interest rates on debt result in people acquiring more debt to repay debt. Paying interest on debt is essentially making yourself poorer while you make somebody else wealthier. Debt is easily available i ..read more

Set financially fit goals We all are unique, are in different situations and have different aspirations / goals in life. It doesn’t matter what your goal is, but you need to have a goal. Without having a goal, you will float through life with no purpose. Goals give purpose. Goals give direction. Goals motivate you to thrive instead of just surviving. First of all, set your financial goals in a way that is SMART: Specific – define your goal clearly. Measurable – set smaller milestones that can be measured. Achievable – dream big but be realistic. Your goal must be achievable to keep you motiv ..read more

When you plan and prepare for tax year-end, you can utilize tax savings more effectively and experience less stress and hazzle when submitting your tax returns. Although the official tax year-end date, for individuals and companies with a February year-end, is 28 February each year, you need to consider some financial institutions and public benefit organisations cut-off a few days earlier to have sufficient time for processing and administration. This is important to know if you still want to maximise your personal tax savings for the current tax year. Here are a few tips to maximise your pe ..read more

The year 2020 was a tough year and economists predict that 2021 will not be any easier. The majority of us were impacted in one way or another. Individuals lost their jobs, households experienced a reduction in income, businesses closed down and the economy had a big knock. Certainly a hard-hitting reality that caused enormous financial stress. The best we can do is to remain positive, grab new opportunities and make the most of what we have.  Using a budget effectively to manage your financial situation will provide you with a strong foundation to improve on your financial wellbeing. He ..read more

December is time for fun, relaxation and spending time with loved ones. It is school holidays and the children need to be entertained for an extended period. Many people go away to a holiday destination while other people stay at home and do day trips. December is associated with entertainment, activities and gifts.   You are going to spend money during the festive season, but try to keep within your budget. Especially this year to ensure you can recover from the financial strain the 2020 lockdown period has caused. Everything is more expensive during December and January is a long and t ..read more

Facing the chaos of a world pandemic during 2020, the thought of a December period where we can relax and recharge is certainly something to look forward to. It is time to forget about what happened in 2020 – the good, the bad and the ugly – and get ourselves ready for 2021. Here is a wellbeing checklist to help you make your holiday season as smooth as possible: Unfortunately bad things still happen and death still claims lives during the holiday season. Ensure that your life insurance, funeral cover and will are up to date at all times to avoid leaving chaos behind. Crime, house robbery an ..read more

Are you self-employed and feeling stressed about not having sufficient retirement savings? Plenty of business owners are still seen to be actively working years after reaching retirement age. They really love what they do or they don’t have somebody reliable to take over or they don’t want to let go of their ‘baby’ are the common reasons provided to explain this situation. Yes, these can be valid reasons or reasons contributing to the situation but for many business owners the harsh reality is that they cannot afford to go on retirement. According to National Treasury less than 6% of South Af ..read more