In this episode of the My Money, My Lifestyle podcast, I am joined by financial adviser Munya Shumba to address a critical yet often-neglected aspect of financial planning: prioritising your own financial future rather than solely focusing on your family’s needs. We explore the delicate balance between generosity and self-preservation, highlighting the need for parents […] The post Listen: Are we spending too much on our families? appeared first on Maya on Money ..read more

Although interest rates have stabilised, a weak economy and high levels of debt mean South Africans remain financially vulnerable. If you’re struggling with car repayments and are at risk of having your car repossessed, what steps can you take? When you drive your dream car off the dealership lot, the last thing on your mind […] The post How to avoid having your car repossessed appeared first on Maya on Money ..read more

How do we live today without being careless about tomorrow, asks Pieter Albertyn, Head of Product Solutions at Momentum Investo. In his State of the Nation Address, President Cyril Ramaphosa used the example of a child called Tintswalo to illustrate how far our democracy has come in 30 years. He mentioned that when she grew […] The post How to navigate the money choices we must make appeared first on Maya on Money ..read more

Many South Africans are experiencing severe financial challenges, and some turn to unregistered lenders for quick cash solutions. However, if you’re employed, your company might be able to provide some financial assistance. We all know that South Africans are struggling to make ends meet, but something we might not realise is that many employees are […] The post How your employer can offer financial assistance in tough times appeared first on Maya on Money ..read more

Many businesses make common mistakes when it comes to taking out and then managing their business insurance policies. In the dynamic world of business, unexpected events can strike at any moment, threatening the stability of even the most well-established enterprises. “From property damage caused by natural disasters to lawsuits from disgruntled customers, the importance of […] The post Business Insurance: Where many are getting it wrong appeared first on Maya on Money ..read more

Life cover fraud has been in the spotlight following the harrowing case of former policewoman Rosemary Ndlovu, who was sentenced to life in prison for orchestrating the murders of six family members between 2012 and 2018 to reap insurance payouts. While not all instances of life cover fraud are as extreme, it has had a […] The post Life cover fraud on the rise appeared first on Maya on Money ..read more

Wendy Myers, Head of Securities at PSG Wealth, has some sound advice if you are concerned about stock market volatility and how it could affect your portfolio. Amid escalating volatility in global equity markets due to numerous factors, an understanding of the concept of volatility and how it can play to your advantage is important […] The post Understand how volatility affects your portfolio appeared first on Maya on Money ..read more

Congratulations! You’ve tossed your graduation cap, landed your first job, and are ready to dive into the real world. But with the excitement of your first paycheque comes the daunting realisation of adult responsibilities: rent, groceries, car payments – and let’s not forget about retirement savings. In this episode of the My Money, My Lifestyle […] The post Listen: Navigating the financial waters as a young graduate appeared first on Maya on Money ..read more

When last did you read your short-term insurance contract? This year I was surprised to discover that the excess on both my car and building insurance had increased. While the premiums had not gone up significantly, the portion I would have to pay when making a claim (the excess) had increased substantially. Increasing the excess […] The post Is there a nasty surprise in your short-term insurance contract? appeared first on Maya on Money ..read more

A pension-backed home loan is an alternative form of housing finance where a person uses their pension savings as security for a home loan. When you apply for a home loan, the bank will consider the property as security for the loan but will also look at your risk rating. In some cases, the bank […] The post Is a pension-backed home loan a good idea? appeared first on Maya on Money ..read more