Budget 2016 a Step in the Right Direction

posted in: News, Uncategorised

The recently announced budget is a move in the right direction in terms of fiscal policy, but was it a budget that was it savings friendly? Finance Minister Pravin Gordhan’s National Budget tabled on Wednesday afternoon in Parliament was a budget that spoke of greater austerity on government spending and indeed acknowledged the need for the country to try and avoid … Continued

Interest rate hike great for savers, worst nightmare for debtors

South African Reserve Bank (Sarb) governor Lesetja Kganyago said on Thursday the bank would increase the repo rate by 50 basis points. This means the repo rate, which is the rate at which the Sarb lends money to banks, will rise to 6.75%. The prime lending rate, the figure charged by banks to customers, will increase to 10.25%. The announcement … Continued

Small Business Dealing with Debt

posted in: News

One of the biggest challenges that any entrepreneur or small business owner ever faces is the challenge of debt. Debt is one of the major causes of business failure and many small businesses are simply not equipped to deal with debt. Debt is always a challenge in personal finance but becomes an even bigger challenge in a business context. Common … Continued

Beware of Pyramid Schemes

Author: Gerald Mwandiambira, acting CEO of the South African Savings Institute Investment Scams: What they are, and how to spot them In recent times, there has been an increase in fraudulent investment companies known as Pyramid Schemes or Ponzi Schemes. These schemes have fleeced many unsuspecting investors of thousands of rands and continue to pop up across South Africa. It … Continued

Old Mutual Savings & Investment Monitor highlights the need to save for Emergency Funds

More than half of working South Africans, if faced with an unexpected expense of R10‚000, will be forced to take out a personal loan‚ rely on credit facilities or borrow from family or friends, while 30% have no idea at all how they would handle such an expense. This is one of the sobering findings of the 2015 Old Mutual … Continued

Savings Month 2017

July is National Savings Month As South Africans do not generally have a savings pools to tap into in times of emergency, they tend to cash in their retirement savings.  We believe, it’s for this reason National Treasury has introduced Tax Free Savings Accounts from 1st March 2015 to build household savings and encouraging investment. South African Savings Institute (SASI) … Continued

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