“The major benefit of paying an excess amount is that by effectively sharing some of the risk involved with owning an asset, you can make your monthly insurance premium more affordable. So, by understanding and choosing the right excess amount,…
"The secret sauce to a comfortable retirement is compound interest. This is when your money makes money (interest) and then that interest earns interest (compounds), and so it builds, provided it remains untouched to grow into a substantial…
"We need to face the fact that we live in a country where most people don't know how to manage money. Financial literacy is a problem, and it's up to us to empower our children with the right financial advice before they go on a dangerous and…
"Cultivating a habit of saving is a worthwhile trait for anyone to master. Encourage them to seek out resources like books, online courses or even reaching out to a financial advisor to continue their financial education. A great one to look…
"By dedicating time to reflect on your money habits, like developing a comprehensive budget, establishing an emergency fund, crafting a financial plan, setting achievable goals, and initiating investments early on, you lay the groundwork for…
"Just to be clear, this is not for that holiday you have always wanted to go on or that new golf driver that is on sale. These funds serve as a financial safety net, providing individuals and families with a cushion to tap into when faced with…
“What also continues to be apparent is how higher-income earners are using credit to offset the dual impact of inflation and interest rates - now 475 basis points higher than in 2020. These consumers typically have more short-term loans than…
A Power of Attorney can be a useful tool to attend to a client or a loved ones' affairs when needed, but there are some misconceptions, particularly around mental incapacity, and Sbongakonke Khumalo, Legal Counsel at Ninety One, unpacks the…
“These include the importance of consistent saving, maintaining a healthy credit score and prioritizing financial planning. These steadfast principles can all be applied to the way in which people view insurance, how they mitigate risk and how…
According to Dr. Khosi Jiyane – Clinical Psychologist on behalf of Metropolitan, valuing ourselves based on our net worth is misguided, as self-worth should not be equated with financial status - furthermore, attempting to keep pace with the…
“A car is a big purchase. Most people cannot afford to buy a car in cash. Vehicle finance is one way for people to buy a car without having to pay the full amount upfront. Instead, they can spread the cost over time through a financing arrangement,”…
"The current economic climate presents unique challenges for South African consumers. "With soaring food prices, many are now prioritising essentials over non-essential spending like vacation spend, leading to widespread financial stress during…
"One often overlooked aspect of financial planning, is the importance of marrying your legacy planning with sufficient insurance cover for your estate, which will ensure that your loved ones are protected, and your assets are distributed according…
“South Africans felt the pressure, with high inflation and the increased cost of living causing financial stress. This year, despite no increase in tax rates and the fuel levy, no inflationary relief has been proposed for taxpayers, which means…
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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