My Money My Lifestyle: Recent Episodes
My Money My Lifestyle
Talking all things money. Maya Fisher-French discusses the do’s and don’ts when it comes to your finances. To join the conversation send me an email via https://mayaonmoney.co.za/contact/
In this episode of the Maya on Money podcast, host Maya Fisher-French explores the evolving landscape of stablecoins and their implications for everyday consumers. Joined by Wiehann Oliver, Partner and Global Co-Head of Digital Assets at Forvis Mazars, they discuss the recent high court ruling regarding the treatment of cryptocurrency in South Africa and how this impacts exchange control regulations.
The conversation explains the fundamentals of stablecoins and how these digital assets, pegged to stable currencies like the US Dollar, can revolutionise payment mechanisms, particularly for cross-border transactions. Wiehann provides insights into the legal complexities surrounding cryptocurrency and the potential for stablecoins to serve as a hedge against local currency devaluation.
Key topics discussed include:
- The recent court ruling and its implications for cryptocurrency regulation in South Africa
- How stablecoins can facilitate faster and cheaper transactions compared to traditional banking
- The role of stablecoins in mitigating currency devaluation in Africa
- Practical applications of stablecoins in everyday life and international payments
- The future of stablecoins in the banking sector and potential disruptions to traditional financial models
This episode is essential for anyone looking to understand the future of money and the role of stablecoins in reshaping financial transactions. Tune in to learn how stablecoins could become a vital part of your financial toolkit.
In this episode of the Maya on Money podcast, host Maya Fisher-French and Adrian Hope-Bailie, the founder of Fynbos Money to discuss the importance of building an emergency fund and investing, how to use both a TFSA and a retirement annuity as part of your retirement plan, and why you really should start a TFSA for your child rather than just buying them more sneakers.
Sponsored by Fynbos Money
In this episode of the Maya on Money podcast, we delve into the world of exchange-traded funds (ETFs) with expert guest Niki Giles, head of strategy at Prescient Fund Services. As the popularity of ETFs continues to rise, we discuss the fundamentals of ETFs, their benefits, and how to get started investing.
We begin by explaining what ETFs are and how they differ from traditional unit trusts, highlighting their low cost and accessibility, which have democratised investing for many. The conversation also covers the evolution of ETFs from passive index-tracking funds to actively managed funds, examining the implications for investors in terms of fees and performance.
Key topics discussed include:
- The basics of exchange-traded funds and their advantages for new investors
- The difference between passive and actively managed ETFs
- Cost considerations and how they compare to traditional unit trusts
- Strategies for choosing the right ETFs for your investment goals
- The importance of diversification and long-term investing
This episode is a valuable resource for anyone looking to navigate the ETF landscape, providing insights and practical tips for making informed investment decisions. Tune in to learn how you can start your investment journey with as little as R100 and harness the power of compounding for your financial future.
In this episode of the Maya on Money podcast, host Maya Fisher-French dives deep into the intricacies of estate planning for offshore investments. With her own recent restructuring experience, Maya opens up about the challenges of managing foreign dividends and the growing tax implications of wealth accumulation over time. To help navigate these complexities, she invites Elana Nel, Fiduciary Specialist at Ninety One, to share her expertise on how to effectively plan for the future when dealing with both local and foreign assets.
The discussion covers a wide range of critical topics, including the impact of situs tax, the importance of understanding different jurisdictions' tax rules, and the necessity of having separate wills for local and offshore assets. Elana elaborates on the potential pitfalls of estate planning, especially for families with members living across various countries, and highlights the significance of double taxation agreements.
Key topics discussed include:
- The complexities of estate planning with offshore investments
- Understanding situs tax and its implications for South African investors
- How exchange control affects the winding up of estates with foreign assets
- The role of wills in managing local and offshore assets
- Strategies for simplifying estate administration through investment wrappers
This episode is a must-listen for anyone with international investments or those looking to ensure their estate is managed effectively across borders. Tune in to gain valuable insights that could make a significant difference for you and your beneficiaries.
In this episode of the Maya on Money podcast, host Maya Fisher-French discusses the recent changes affecting small business finances following the national budget announcement. With the VAT threshold and turnover tax limits both increased to R2.3 million, Maya unpacks what this means for small business owners and whether they should consider deregistering for VAT.
Joined by Seelan Muthayan, director and head of VAT at BDO, they explore the pros and cons of remaining a VAT vendor versus deregistering, emphasising the complexities involved in VAT returns and the potential impact on cash flow. Seelan shares valuable insights on the implications of deregistration, including the risk of audits and the perception of reliability among clients.
Key topics discussed include:
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The implications of the increased VAT threshold for small businesses
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Pros and cons of deregistering for VAT
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Understanding turnover tax and its eligibility requirements
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Common pitfalls in claiming home office expenses and how to navigate them
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Advice on maintaining compliance with SARS and preparing for future audits
This episode includes essential information for small business owners looking to optimise their tax strategies and navigate the evolving financial landscape. Tune in to gain clarity on these significant changes and make informed decisions for your business.
As the end of the tax year approaches, it is time to maximise your tax deductions and contributions to tax-free savings accounts and retirement annuities. Joined by Janine Langenhoven, senior legal counsel at Ninety One, Maya explores the often-overlooked tax benefits of exceeding the annual contribution cap on retirement annuities of R350 000. Janine explains how excess contributions can roll over to future years, allowing for tax deductions later, and discusses the implications of these contributions at retirement.
They also discuss the dos and don'ts for parents who may want to give their children a head start on their retirement savings.
Key topics discussed include:
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The mechanics of exceeding the R350 000 contribution cap and the tax benefits associated with it
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How excess contributions can lead to tax-free withdrawals at retirement
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The role of retirement annuities in estate planning and their implications for beneficiaries
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Strategies for parents considering retirement annuities for their children
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Important considerations for tracking contributions and ensuring compliance with SARS
This episode provides essential insights for anyone looking to navigate the complexities of retirement annuities and optimise their tax strategies effectively.
The cryptocurrency landscape is evolving at a breakneck pace, leaving most of us feeling bewildered by the myriad of terms and concepts.
This stablecoin aims to blend the benefits of blockchain technology with the reliability of regulated financial systems, targeting the South African and broader African markets.
Joining Maya is Warren Ross, the managing director of Super Money SA, who breaks down the complexities of stablecoins in simple terms. Listeners will learn what sets stablecoins apart from traditional cryptocurrencies like Bitcoin, how their value is maintained, and the mechanisms that ensure stability. Warren also addresses the crucial aspect of trust and transparency in the cryptocurrency space, explaining the need to provide audited proof of reserves and maintain robust compliance measures.
Key topics discussed include:
• The fundamental differences between stablecoins and volatile cryptocurrencies
• How the ZAR Supercoin is pegged to the South African rand and the implications for users
• The role of market makers in maintaining the stability of the coin
• Use cases for stablecoins, including its potential for lower transaction costs and faster payments
• Insights into the regulatory landscape for cryptocurrencies in South Africa and the importance of compliance
Whether you’re a seasoned crypto enthusiast or a newcomer trying to navigate this complex world, this episode offers valuable insights into how stablecoins can play a significant role in the future of finance in South Africa and beyond.
In this episode of My Money, My Lifestyle, host Maya Fisher-French shares a personal story that highlights the often-overlooked complexities of medical aid claims, particularly in emergency situations.
When her 85-year-old mother experienced alarming symptoms and sought treatment at an emergency room, she was left with bills not paid by the medical scheme.
Maya invites David Green from Med ClaimAssist to discuss what to do when your medical scheme does not cover the cost of emergency treatment.
They explore the nuances of prescribed minimum benefits (PMBs) and the importance of proper referrals when navigating emergency care. David sheds light on the misconceptions surrounding hospital plans and the potential financial implications of emergency room visits.
Key topics covered include:
• Understanding the limitations of medical schemes regarding emergency room visits
• The significance of referrals from healthcare professionals
• Strategies for challenging denied claims and navigating the claims process
• The potential for negotiating medical bills and seeking discounts from providers
• Insights into the role of clinical committees in reviewing complex cases
Listeners will gain valuable insights into their rights as medical scheme members and practical steps to take when faced with unexpected medical expenses.
South Africans are feeling more confident about their finances than they have in the last three years – according to the 2025 Sanlam Financial Confidence Index.
This good news is driven in part by lower interest rates, the end of loadshedding, and real salary increases. Yet, despite feeling more confident, this is not translating into an improved sense of financial well-being and 74% of South Africans remain stressed about their daily finances.
As we know from experience, we usually need confidence to inspire action. So, how can we utilise this confidence and improved macroeconomic conditions to enhance our personal financial well-being?
In this podcast, host Maya Fisher-French is joined by Kele Boakgomo, behavioural scientist and CEO of Yugrow, and Lee Hancox, Head of Channel and Segment Marketing at SanlamConnect, to unpack the trends and behavioural insights from the Sanlam Financial Confidence Index, as well as provide tools and strategies we can apply to make sure we enter 2026 with a greater sense of financial control.
For the full Sanlam Financial Confidence Index report, click here
Asset manager Piet Vijoen has argued that people systematically overpay for insurance because they prefer the certainty of losing a little each month (i.e. the premium) rather than risk facing an uncertain loss at some point in the future.
In this episode of My Money, My Lifestyle, host Maya Fisher-French debates the relevance of insurance and how much is enough with financial planners Henri le Grange and Ben Nel.
Insurance is often viewed with scepticism, and many people question whether it is truly worth the investment. This episode addresses key concerns surrounding life cover, income protection, and critical illness cover, as well as how to avoid a "tick box" approach that leads to clients being overinsured and overpaying for premiums that may not align with their actual needs.
Listeners will also learn about the risks associated with age-rated premiums, which can escalate quickly and become unaffordable as individuals age.
The episode also explores the concept of self-insurance, where individuals accumulate sufficient liquid assets to cover potential liabilities without relying solely on insurance.
A personalised approach ensures that clients are not just sold a product but are guided to make informed decisions that benefit their overall financial health.
This episode is a must-listen for anyone looking to navigate the often confusing world of insurance and personal finance.
After six transformative months, we’re concluding our Insure Your Future Money Bootcamp series with incredible stories of financial transformation that will inspire and motivate you to take control of your finances.
In this final episode, we discuss the game-changing themes that emerged from the journeys of our boot camp participants. From unexpected promotions to debt freedom, the results speak for themselves: money truly loves control.
What You’ll Discover:
• Why financial structure creates opportunities for prosperity in all areas of life
• How to overcome the psychological barriers that keep you stuck (fear, guilt, and shame around money)
• Practical strategies for setting boundaries with family financial expectations
• The compound effect of small, consistent financial actions
• How to balance financial responsibility with enjoying life guilt-free
Our participants’ stories prove that transformation is possible for anyone willing to face their financial reality and take action. We heard from individuals who accelerated their debt payoff, built emergency funds, inspired family members to change their money habits, and even received promotions at work after gaining financial stability.
Key Takeaway: Financial empowerment isn’t just about numbers, it’s about mindset, relationships, and creating sustainable habits that compound into life-changing results.
Whether you’re drowning in debt, struggling with family financial pressure, or simply want to level up your money management, this episode provides actionable insights you can implement immediately.
Ready to transform your relationship with money? Listen to the full series if you have not already done so. This is your roadmap to financial freedom!
Most people can only afford to retire comfortably by age 80. This sobering statistic was the focus of our latest Insure your Future Money Bootcamp podcast discussion that asked the question of whether early retirement is even possible in today’s economic climate.
In this episode, Maya and Mapalo are joined by seasoned financial planner Wynand Gouws, author of "To 100 and Beyond". They explore the realities of retirement savings, the importance of understanding replacement ratios, and the critical role of budgeting in preparing for retirement. Wynand emphasises that simply having a retirement fund is not enough; individuals must actively engage with their financial planning to ensure they can maintain their desired lifestyle post-retirement.
The conversation explores practical strategies for boosting retirement savings, including the importance of delaying retirement, managing lifestyle choices, and the advantages of tax-efficient savings. Wynand also highlights common myths surrounding retirement planning, urging listeners to take proactive measures now to avoid future financial strain.
Key topics covered:
• Understanding the implications of replacement ratios on retirement planning
• The importance of budgeting and tracking expenses for a secure retirement
• Strategies for increasing retirement savings and utilising tax benefits
• The impact of lifestyle choices on long-term financial health
• Debunking retirement myths and preparing for increased longevity
This episode serves as a wake-up call for those who may be underestimating their retirement needs. Tune in to gain valuable insights and actionable steps to ensure your financial well-being in your golden years!
The latest FNB retirement survey revealed that many South Africans are allocating more funds to insurance than to their retirement savings. So how do we find the balance between insuring for the unexpected while investing for longevity? This is the topic of the latest episode of the Retirement Reimagined series, with host Maya Fisher-French and guest Deepesh Desai, head of FNB Life.
Maya and Deepesh discuss how to utilise insurance to protect retirement savings and what types of insurance are suitable once you are retired. Deepesh explains how understanding one’s unique financial situation and life stage is vital in determining appropriate insurance coverage.
Key topics covered:
• The relationship between insurance spending and retirement savings
• How insurance can safeguard your retirement nest egg
• The importance of assessing insurance needs at different life stages
• The role of legacy planning and estate liquidity in insurance decisions
• The impact of critical illnesses on retirement planning and insurance needs
• The necessity for democratising financial advice to ensure informed insurance choices
By understanding how to integrate insurance into your overall financial strategy, you can better prepare for a secure and comfortable retirement. Tune in to gain clarity on how to protect your financial future while pursuing your retirement goals.
For more information on the retirement survey, click this link.
In the latest episode of the Money Bootcamp Podcast, we dive into the world of investing and the magic of compound growth. If you've ever wondered how your money can grow exponentially over time, this episode is for you.
We begin by discussing the Rule of 72, a straightforward formula that helps you determine how long it will take for your investment to double, based on a fixed annual rate of return. For instance, at a 10% return, your money could double every 7.2 years, but the real magic happens when you let it compound over a longer period.
We break down the significance of staying invested, explaining how early withdrawals can jeopardise your long-term financial goals. The discussion also covers realistic expectations for returns, drawing on historical data from the Johannesburg Stock Exchange and global markets to highlight the importance of diversification in investment strategies.
This episode is packed with insights and practical advice for anyone looking to improve their financial literacy and make informed investment decisions. Whether you're a seasoned investor or just starting, there's something valuable for everyone. Tune in to learn how to harness the power of compound growth and take control of your financial future!
Key topics covered:
• Understanding the mechanics of compound growth and the rule of 72
• The impact of market performance over different time frames
• The importance of investing consistently, even with smaller amounts
• Differentiating between nominal and real returns, and why inflation matters
• Exploring tax-free savings accounts and their benefits for long-term wealth accumulation
In the latest episode of the Retirement Reimagined series, host Maya Fisher-French speaks to Carin Meyer, Product Head of Wills and Deceased Banking, about the importance of having a will, especially when it comes to your retirement assets.
Maya and Carin debunk common misconceptions, including the dangerous belief that "only wealthy people need wills," and explore the psychological barriers that prevent people from planning their estates.
Key topics covered:
- The critical difference between how property and retirement funds are handled in your estate
- Why intestate succession rarely reflects your true wishes
- Smart strategies for choosing executors and managing estate costs
- How to use testamentary trusts to protect vulnerable family members
- When and how to update your will as life circumstances change
This practical episode provides actionable advice for retirees and pre-retirees, emphasising that estate planning isn't just about assets - it's an act of love that prevents family conflicts and ensures your legacy aligns with your values.
Whether you're just starting your retirement journey or reviewing your existing plans, this episode delivers essential insights that could save your family from financial and emotional turmoil. Don't let poor planning overshadow a lifetime of hard work.
For more information on the retirement survey, click this link.
Marriage is often viewed through the lens of love, commitment, and partnership, but it is also a significant financial contract that can have profound implications on your financial future.
In this Insure your Future Money Bootcamp Maya Fisher-French and Mapalo Makhu interview attorney and mediator Lerato Seroke about the financial and legal implications of your marriage contract. This knowledge could save you from devastating financial consequences down the line.
Many people believe that living together for a long time constitutes a common law marriage, but as Lerato explains, this is a myth.
In South African law, common law marriage does not exist, and this misconception can expose couples to various financial risks. Without a legal marriage, partners may forfeit crucial benefits such as inheritance rights, spousal maintenance, and pension claims.
The episode explores the three valid forms of marriage in South Africa: civil marriage, civil union, and customary marriage. Each type has its own legal implications, particularly concerning financial responsibilities and rights. For instance, a civil marriage requires registration, while a customary marriage does not. This distinction can lead to complications, especially in cases of divorce or death.
Listeners will learn about the importance of keeping thorough records to validate a marriage, particularly in customary arrangements where formal documentation may be lacking. Lerato emphasises that individuals should document everything from lobola negotiations to communications with family members to protect their interests. The discussion also covers the different marriage regimes, including in community of property and out of community of property, with and without accrual.
These distinctions are crucial for understanding how assets and debts are managed within a marriage. For example, being married in community of property means that both partners share liabilities, which can lead to financial vulnerability. Mapalo shares her personal experience of choosing to marry out of community of property without accrual, emphasising the empowerment that comes from financial independence. This decision allows her to build her own assets while still collaborating with her partner on shared financial goals.
It's crucial to approach discussions about marriage contracts not as a sign of distrust but as a way to protect each other and build a solid financial future together. This episode is a must-listen for anyone considering marriage or currently in a long-term relationship. It provides valuable insights into how to safeguard your financial interests and ensure that both partners are protected. Tune in to gain a deeper understanding of marriage contracts and their implications for your financial health.
In the latest episode of the Retirement Reimagined series, we aim to understand why so many people are not saving for retirement. The results from the FNB Retirement Survey suggest that it is not just financial constraints.
Host Maya Fisher-French is joined by Bheki Mkhize, CEO of FNB Wealth and Investments, and Renzi Thirumalai, Chief Investment Officer of FNB Wealth and Investments, to unpack the survey findings, which include the immense financial pressure many individuals experience. High costs of living, such as escalating grocery bills and rising transport costs, are squeezing disposable income to the point where saving for retirement feels impossible.
But there are also the psychological aspects of retirement planning. Humans are inherently wired to seek immediate gratification, making it challenging to prioritise long-term goals like retirement. Many face the dilemma of balancing enjoying today and saving for tomorrow. The discussion unveils how this mindset can lead to procrastination, with individuals believing they have ample time to prepare for retirement only to find themselves caught off guard as they approach their golden years.
Another significant barrier to effective retirement planning is the lack of financial literacy and knowledge about available products. Many participants in the survey reported feeling lost when it comes to understanding their options and where to turn for trustworthy advice. This gap in knowledge can lead to poor decision-making, such as cashing in retirement funds prematurely or opting for low-return savings options out of fear of market fluctuations.
The discussion highlights ways people can start investing for retirement, including automating their savings with regular increases in contributions to keep pace with inflation and rising living costs.
Whether it's seeking guidance from financial advisors, understanding the intricacies of investment products, or simply starting to save, the message is clear: the sooner you start, the better prepared you'll be for retirement.
For more information on the retirement survey, click this link.
In the latest Money Bootcamp episode, Maya Fisher-French and Mapalo Makhu are joined by a special guest, Nonhlanhla Bakasa, founder of AdoWord Multimedia, to discuss the reality of living with a disability. Nonhlanhla has been a "wheelchair rider" since the age of 12 when she suffered a spinal injury in a car accident.
Nonhlanhla provides an honest and frank insight into the challenges she faces every day, not only with the physical reality of her disability but also the financial battle. Her story highlights how inadequate the system is for those living with a disability.
Stian de Witt, certified financial planner and executive head of Energy Financial Planning at NMG Benefits, also joins the conversation and shares his experience of clients who became disabled, and the costs involved. Stian offers some practical advice on how to find the balance between having protection in place but not being over-insured.
The conversation also addresses the emotional toll of dealing with financial administration, including claiming from the road accident fund, medical schemes, and insurance companies, and the critical need for a supportive financial team.
Both Nonhlanhla and Stian advocate for building a support system, whether through friends, family, or financial professionals who can guide individuals through the complexities of financial planning and insurance claims. This episode covers:
- The topic of disability and its financial impact
- Nonhlanhla's personal story and experiences with disability
- The costs of living with a disability
- Insights from Stian on managing disability finances
- Discussion on insurance challenges and tax deductions
- Importance of having a financial support team
- Practical advice for budgeting and prioritising expenses
In the latest episode of Retirement Reimagined, we examine what retirement means to those over 60. Using the findings from the FNB retirement survey, host Maya Fisher-French speaks to Renee Coughlan of FNB Wealth and Investment about the reality facing many retirees who feel less prepared than ever before.
Individuals over 60 report a lack of confidence in their retirement readiness, exacerbated by rising living costs and inflation. As Coughlan points out, the pension income that many retirees rely upon is not keeping pace with the cost of everyday essentials, from groceries to medical expenses. This stark reality has left many feeling anxious and uncertain about their financial futures.
One of the key themes discussed is the need to support multiple generations. Many retirees find themselves financially responsible for not only their children, but their elderly parents and even grandchildren, further straining their already limited resources.
Throughout the episode, the hosts emphasise the necessity of regular portfolio reviews. Coughlan stresses that many people only start to seriously consider their retirement plans as they approach their late fifties, which can be too late to make significant adjustments. Regularly reviewing investment portfolios, insurance policies, and budgeting can make a substantial difference in achieving retirement goals.
Budgeting is another critical topic covered in the episode. The hosts share practical advice for seniors, such as seeking out discounts and rewards programs and re-evaluating existing expenses. By making small sacrifices and adjustments, retirees can free up cash that can be redirected towards their retirement savings.
For those under 60, the episode serves as a wake-up call to begin preparing for retirement sooner rather than later. Retirement is not just about ceasing to work; it’s about living a fulfilling life. The financial landscape is changing, and it’s essential to be proactive in planning for the future.
Click this link for more information on the retirement survey. Don't miss the next episode, where we will discuss what prevents us from planning for retirement.
We asked many single moms what their greatest concerns were regarding drawing up a will. Host Maya Fisher-French asked fiduciary expert Deenisha Nadesan of Capital Legacy to answer them.
For most moms, their concerns were around who would look after their child, who would manage the money on behalf of the child, and whether they had enough to provide for their living costs and education.
We covered all the questions you need answers to including:
· Can I leave a property to my child
· What makes a will valid
· What happens to my pension fund?
· Can I nominate someone other than the biological father as guardian
· How does a testamentary trust work, and how is it different from a beneficiary fund?
· How much does it cost to draw up a will
· Who should be the executor
While this was a discussion about single moms, it is relevant to any parent.
Click here for the Single Mom's Guide To a Will.
In the latest episode of the Santam Insure Your Future Money Bootcamp, we discuss the sensitive topic of debt. While we all need credit, especially to purchase a home or a car, if it is not managed carefully, it can become a debt trap which undermines all our other important financial goals.
Brian Mphakoanyane from Summit Financial joins hosts Maya Fisher-French and Mapalo Makhu to explain credit scores, good and bad debt, and what to do when debt becomes unmanageable.
The conversation delves into practical strategies for managing debt, understanding creditworthiness, and the importance of maintaining a healthy debt-to-income ratio. Brian shares insights on debt review, its pros and cons, and the significance of creating an emergency savings account while under debt counselling.
This episode is not just about understanding debt; it’s about empowering listeners to take charge of their financial futures. By providing practical tips and expert advice, this episode provides information to reassess their financial habits and make informed decisions. Tune in to gain the knowledge you need to transform your financial situation and pave the way for a brighter financial future.
People are surprisingly confident about their retirement plans, so why are so many people underfunded?
In the latest Retirement Reimagined episode, host Maya Fisher-French and Ester Ochse, head of Integrated Advice at FNB, unpack why confidence does not mean preparedness when it comes to retirement.
While 25-27% of South Africans feel confident about their retirement preparedness, only 10% can actually afford to retire comfortably. This disconnect becomes even more pronounced with age – younger people display the highest confidence levels, yet this optimism crumbles as reality sets in during their 40s and 50s.
This is because people seldom have a retirement plan with specific goals and objectives. Most of the time, it is just a belief that because there is a retirement fund, whether that is through an employer or a retirement annuity, it will be enough.
Not investing enough and cashing in when changing jobs all negatively impact retirement outcomes, yet the wrong investment choices can also impact your ability to reach your retirement goals. Fixed deposits and savings accounts, while feeling "safe," are actually eroded by inflation over time.
In this episode, Ester discusses how to ensure that your retirement plan will deliver decent retirement outcomes, what type of investments are appropriate for retirement, and the importance of understanding how much is enough.
For more information on the retirement survey, click this link.
In this episode of the Insure your Future Money Bootcamp, hosts Maya Fisher-French and Mapalo Makhu discuss the financial journey of one of Maya's mentees who is in the process of buying her first home. They share practical insights and personal anecdotes that highlight the importance of thorough financial planning before making such a significant purchase.
Understanding the Costs of Homeownership
Maya and Mapalo emphasise the importance of not rushing into homeownership and instead taking a calculated approach by evaluating current expenses and potential new costs. The mentee has been diligent in budgeting, ensuring she understands the costs of levies, utilities, and maintenance before making an offer on a property.
Key Considerations for Homebuyers
The hosts outline crucial factors to consider beyond personal budgeting. They stress the importance of obtaining levy statements and understanding the financial health of the body corporate, as well as the need for a home inspection to uncover potential issues before moving in. They also touch on the often-overlooked costs such as rates and taxes, which can come as a surprise to new homeowners.
Navigating Mortgage Options
Maya and Mapalo highlight the necessity of shopping around for the best mortgage rates, advising listeners not to be tied to their current bank. They discuss the benefits of using a bond originator and the potential for banks to offer 110% mortgages for first-time buyers, covering both the purchase price and additional costs.
Final Thoughts
Listeners are encouraged to run the numbers, consider all associated costs, and make informed decisions to ensure homeownership is a positive experience rather than a financial burden.
Join us for an insightful conversation that empowers you to take control of your financial future and make informed decisions on your path to homeownership.
As retirement approaches, many people find themselves grappling with the reality of their financial plans – or lack thereof.
In the latest Retirement Reimagined episode, host Maya Fisher-French and Sizwe Nxedlana, CEO of FNB Private Segment explore the increasing trend of individuals pursuing second careers or side businesses as part of their retirement strategy. With many people finding themselves in a position where they need to maintain their lifestyle post-retirement, the idea of working longer or starting a new venture is becoming more appealing.
Retirement Readiness and Challenges
A staggering 90% of respondents indicated they feel unprepared for retirement. Maya and Sizwe discuss the implications of this statistic, examining the financial pressures that lead many to work longer, including lifestyle inflation and the need to maintain a certain standard of living. They emphasise that for affluent individuals, the challenge of retiring comfortably often stems from high expectations and insufficient savings.
Second Careers and Side Businesses
The conversation shifts to the growing importance of second careers and side businesses as integral components of retirement planning. Sizwe highlights how improved health outcomes and changing corporate norms are allowing people to remain in the workforce longer, while also exploring how entrepreneurship can provide an alternative path to financial security in retirement.
Financial Literacy and Planning
Maya and Sizwe stress the significance of financial literacy and proactive planning. They urge listeners to engage with their retirement benefits, understand their company’s retirement policies, and seek professional advice early in their careers. The episode underscores that effective retirement planning is not merely about accumulating wealth but also about making informed decisions that align with long-term goals.
For more information on the retirement survey, click this link. Don't miss the next episode, where Maya will discuss how much you truly need to retire comfortably.
In the third episode of the Santam Insure Your Future Money Bootcamp, hosts Maya Fisher-French and Mapalo Makhu welcome the Thokozani, a budgeting superhero and one of Mapalo's mentees from last year. Thokozani shares her inspiring journey from financial struggle to mastering her money management skills, revealing how a shift in attitude transformed her relationship with finances.
From Struggles to Superhero
Thokozani opens up about her previous financial struggles, where payday was met with dread rather than excitement. Discover how she overcame feelings of overwhelm to take control of her financial future. Her story serves as a reminder that anyone can change their financial narrative with the right mindset and tools.
Budgeting Techniques
Listeners will learn about Thokozani's budgeting process, which incorporates a mix of apps, Excel spreadsheets, and good old-fashioned pen and paper. She outlines how she tracks her spending across different categories and the importance of being intentional with her finances. The conversation also touches on managing unexpected expenses and the necessity of having an emergency fund.
Side Hustles and Financial Goals
Thokozani discusses her side hustle and how she utilises that income to bolster her financial security, illustrating the significance of having a clear purpose for additional earnings. The episode also highlights the importance of investing as part of a comprehensive budgeting strategy, ensuring that listeners understand the value of planning for future financial growth.
Empowering Family Conversations
Thokozani shares how budgeting has improved her finances and transformed her family's financial conversations. She emphasises the shift from a scarcity mindset to one focused on abundance and investment, paving the way for her children to engage in meaningful discussions about money.
Join Maya, Mapalo, and Tokozani for an enlightening conversation that demystifies budgeting and inspires listeners to take charge of their financial journeys. Whether you're struggling to make ends meet or looking to optimise your financial strategy, this episode offers valuable insights and practical advice to help you become your own budgeting superhero.
For more resources and support on your financial journey, visit the Insure Your Future Money Bootcamp website and explore the tools available to help you manage your money effectively.
This series is sponsored Santam, helping you insure your money for a better future.
Your pension fund is likely your biggest asset, but do you know your rights when things go wrong? In this episode of "Know Your Ombud," host Maya Fisher-French interviews Pension Funds Adjudicator Muvhango Lukhaimane..
If your pension fund or employer isn't treating you fairly, you can approach the Pension Funds Adjudicator at no cost – no lawyer needed. They'll even help if you haven't tried resolving issues with your fund first.
In this episode, Lukhaimane raises the importance of fund communication with many members having never even held a benefit statement. Funds are failing to share basic information about your benefits, growth, and entitlements. You should actively demand this information.
Two-pot taught harsh lessons about tax. One member expecting R15,000 from his savings pot received only R2,000 because SARS deducted outstanding taxes. Remember: all withdrawals require tax clearance, so keep your affairs in order.
Death benefits aren't automatic. Trustees have discretion based on actual financial dependency, not just legal relationships. In one case, trustees allocated 65% to minor children over adult children and spouse because the minors had greater dependency needs.
When funds place children's benefits in beneficiary funds, the default position favours competent parents managing the money. One mother successfully challenged this when the fund couldn't prove she was incapable.
But members aren't always right. One member demanded R1 million based on an incorrect statement. The ruling? You can't get what you're not legally entitled to under fund rules.
Bottom line: Stay informed, know your rights, and use free help when needed.
If you feel let down by a financial provider, contact one of these Ombud schemes:
- FAIS Ombud for financial advice disputes – faisombud.co.za
- Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes – pfa.org.za
- JSE Ombud: JSE-related issues – jse.co.za
- National Financial Ombud Scheme (NFO) for banking, credit, and insurance – nfosa.co.za
This series was created in partnership with The Ombud Council.
In this episode of "Retirement Reimagined," host Maya Fisher-French engages in a thought-provoking discussion with Lytania Johnson, CEO of FNB Personal Segment about the pressing question: Is retirement planning a luxury only for those with extra cash? Together, they explore how the financial realities faced by many South Africans often push retirement planning to the backseat, overshadowed by immediate needs like housing, education, and debt repayment.
Realities of Retirement Planning
Lytania shares insights from the latest FNB retirement survey, revealing that only 9% of income is currently allocated to retirement savings, compared to a staggering 20% spent on groceries. The conversation highlights the challenges of cashing out retirement funds, the impact of the two-pot withdrawal system, and the necessity of understanding contribution levels for a secure retirement.
Side Hustles and Additional Income
As the discussion unfolds, they investigate the rise of side hustles as a means to generate extra income and how these ventures can play a significant role in retirement planning. They emphasise the importance of changing mindsets around retirement savings, urging listeners to prioritise their future and consider the long-term benefits of investing even small amounts from side income.
Changing Behavior and Mindset
Maya and Lytania tackle the societal tendency towards instant gratification and the need for education on the time value of money. They stress that retirement should not be viewed as a distant goal but as a present responsibility that requires action now. The episode closes with a reminder that every bit saved today contributes to a more secure tomorrow.
Tune in to gain valuable insights on navigating the complexities of retirement planning and learn how to turn your financial future into a priority, not a luxury.
For more information on the retirement survey, visit the FNB website. Don't miss our next episode, where we will discuss the importance of second careers in postponing retirement and leveraging side hustles as sources of retirement income.
What is good advice? In this episode of "Know Your Ombud," host Maya Fisher-French interviews John Simpson, the FAIS Ombud, about how his office protects consumers when financial advice goes wrong – and what you need to know to protect yourself.
Real-Life Cases
Simpson shares several cases that illustrate how the FAIS Ombud holds financial advisers to a much higher standard. Advisers cannot assume a client understands the product, and any critical clauses or require specific action by the client must be highlighted by the adviser:
- Why the Ombud ordered financial advisors to pay the clients' insurance claim after failing to mention one critical insurance requirement
- An adviser is held responsible for his client having the wrong insurance for his Uber business
- Why bad tax advice meant an adviser was responsible for his client's R85 000 tax bill
When Advisers Get It Right (And Wrong)
The podcast doesn’t just highlight adviser failures. Simpson provides a balanced perspective on what quality financial advice should look like and when consumers must take responsibility for their own decisions – particularly in high-risk areas like forex trading where up to 70% of retail investors lose money.
Your Financial Rights
Simpson explains how the FAIS Ombud process works:
- How to file a complaint if you’ve received poor financial advice
- What special protections exist for vulnerable consumers
- The limitations of the Ombud’s authority and when they can’t help
Protect Yourself
Simpson provides straightforward advice on how to verify your adviser’s credentials, what questions to ask before signing any financial agreement, and the simple Google search that could save you from financial disaster.
Whether you’re planning for retirement, buying insurance, or considering investments, this podcast provides essential knowledge about your rights and how to protect your financial future. Listen now to arm yourself with insider information from the very authority tasked with overseeing the quality of financial advice in South Africa.
If you feel let down by a financial provider, contact one of these Ombud schemes:
- FAIS Ombud for financial advice disputes – faisombud.co.za
- Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes – pfa.org.za
- JSE Ombud: JSE-related issues – jse.co.za
- National Financial Ombud Scheme (NFO) for banking, credit, and insurance – nfosa.co.za
This series was created in partnership with The Ombud Council.
As we dive into July, many of us feel the familiar pang of anxiety that accompanies tax season. In our latest episode, we tackle the ins and outs of tax filing. Joined by tax expert Andre Bothma, we explore why tax can feel overwhelming and how to navigate the process with confidence.
One of the key topics discussed is the concept of auto assessments introduced by SARS (South African Revenue Service). If you're employed and earning an income, you may receive an auto-assessment, a pre-filled tax return that simplifies the filing process. However, as Andre points out, just because you receive one doesn't mean you should trust it blindly. It is essential to review the details, as mistakes can lead to missed deductions or incorrect refunds.
For students and freelancers, the conversation shifts to the importance of filing even if your income is small. Many young people, especially those working in creative fields or part-time jobs, may not realise that they are required to file a return, particularly if tax has been deducted from their earnings. Filing a return can lead to a refund, making it a crucial step in managing your finances.
Throughout the episode, we also discuss the significance of understanding your status as a provisional taxpayer. This designation applies to those earning income without pay-as-you-earn deductions, such as rental income or freelance work. Andre emphasises the importance of being aware of deadlines and the potential penalties for late submissions, which can add unnecessary stress to an already daunting process.
Moreover, we delve into the various deductions available to individuals, from retirement annuities to business expenses. Understanding what you can claim is vital in reducing your taxable income and ensuring compliance with tax laws.
As we wrap up the episode, Andre provides practical advice on engaging with SARS and familiarising yourself with the e-filing system. He reassures listeners that while tax season can be intimidating, with the right knowledge and support, it can become a manageable task.
If you’re looking to take control of your financial future, this episode is a must-listen. Tune in to gain insights that will empower you to tackle tax season head-on and alleviate some of the anxiety surrounding personal finance.
In this episode of "Know Your Ombud," we examine the complexities of long-term insurance and the common complaints the Ombud receives.
Host Maya Fisher-French chats to Sonya Marais, Senior Adjudicator for the Life Insurance Division of the National Financial Ombud (NFO), about the intricacies of insurance claims, particularly focusing on the challenges surrounding non-payment of claims and non-disclosure. Sonya explains the distinction between advice-related issues and product failures, and how these factors influence the adjudication process.
Listeners will hear case studies, including an example of a driver who lost his eyesight and faced rejection of his claim due to the insurer's interpretation of disability. Sonya explains the Ombud's role in evaluating the fairness of such decisions, emphasising the importance of understanding the terms and conditions of insurance policies.
The conversation also addresses the often-overlooked nuances of funeral policies and why you cannot take out funeral cover on someone who is not directly related to you. They also discuss the potential for fraud in the industry.
Join Maya and Sonya as they navigate the challenges faced by consumers in the long-term insurance landscape, reinforcing the message that the Ombud service is a free and accessible resource for those seeking resolution in their insurance disputes. Remember, understanding your rights and responsibilities is key to ensuring fair treatment in the financial services sector.
If you feel let down by a financial provider, contact one of these Ombud schemes:
-
FAIS Ombud for financial advice disputes – faisombud.co.za
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Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes – pfa.org.za
-
JSE Ombud: JSE-related issues – jse.co.za
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National Financial Ombud Scheme (NFO) for banking, credit, and insurance – nfosa.co.za
This series was created in partnership with The Ombud Council.
Welcome to the first episode of “Retirement Reimagined,” a series of conversations exploring the latest FNB Retirement Survey and what it reveals about the average South African’s preparedness and attitude towards retirement.
In the first episode of our series, we investigate the findings of the 2024 FNB Retirement Survey with Samukelo Zwane: Product Head, FNB Wealth and Investments and Bheki Mkhize: CEO FNB Wealth and Investments.
One of the standout findings from the survey is that approximately 60% of respondents claim to have a retirement plan in place. While this figure seems promising, a deeper analysis uncovers that only 25% of these individuals have a retirement annuity, indicating a potential gap in effective retirement planning.
The survey also highlights that many people begin thinking about retirement much earlier than previous generations, with some starting as young as 27. This shift suggests a growing awareness of the importance of retirement planning among younger South Africans.
However, the survey also reveals a troubling reality: only 10% of retirees can truly claim to have retired comfortably, with the majority lacking sufficient funds to cover their basic needs. This discrepancy raises critical questions about the effectiveness of current retirement strategies and the need for better financial education and advice.
As we explore the attitudes of those over 60, it becomes evident that many are not fully retiring but rather seeking secondary careers or part-time work to supplement their income. This trend reflects a broader cultural shift in how we view retirement, not as a time to relax but as a phase to remain active and engaged.
The episode also addresses the anxiety surrounding retirement planning. Many individuals feel overwhelmed by the complexities of saving and investing for retirement. The survey indicates that access to financial advice significantly reduces this anxiety, underscoring the importance of guidance in navigating retirement options.
Looking ahead, we will continue to unpack these themes in future episodes. We will explore whether retirement planning is becoming a luxury and how rising living costs affect our ability to save for the future. Join us on this journey to better understand and prepare for retirement, ensuring that we can all look forward to a secure and fulfilling future.
This podcast series was created in partnership with FNB.
In this episode of "Know Your Ombud," host Maya Fisher-French engages with Edite Teixeira-Mckinon, the lead Ombud for non-life insurance, to understand the intricacies of short-term insurance and the common complaints consumers face. This episode aims to empower listeners with essential knowledge about their rights and the processes involved in lodging complaints against insurers.
Maya and Edite discuss the various types of insurance policies under the non-life umbrella, including motor vehicle, home contents, and pet insurance. They delve into the most frequent complaints, particularly those related to motor vehicle insurance, and the complexities of insured values and shortfall insurance. Edite explains how understanding policy details can be crucial in avoiding disputes and ensuring fair treatment.
Listeners will hear about real cases that highlight the importance of clarity in policy terms and the challenges consumers face when claims are rejected. Edite shares insights on the prevalence of complaints regarding mechanical warranties and the impact of recent events like COVID-19 on insurance trends.
The episode also addresses the concept of recklessness in driving and how it can affect insurance claims. Edite emphasises the importance of being honest and transparent when filing claims, as misrepresentation can lead to the denial of coverage. The discussion serves as a reminder that consumers must actively engage with their insurance policies to fully understand their rights and obligations.
Join Maya and Edite as they navigate the world of short-term insurance, providing listeners with valuable tips on how to protect themselves and ensure they receive the coverage they expect. Remember, the Ombud service is free and accessible, so don’t hesitate to reach out if you feel you've been treated unfairly!
If you feel let down by a financial service provider, you can contact the appropriate ombud scheme via the links below:
- Ombud for Financial Services Providers (FAIS Ombud): Disputes related to financial advice
- Office of the Pension Funds Adjudicator (OPFA): Disputes related to pension funds
- JSE Ombud: Disputes related to the JSE
- National Financial Ombud Scheme (NFO): Disputes related to banking, credit, and insurance
This podcast series was created in partnership with The Ombud Council.
In the first episode of the second season of the Santam Insure Your Future Money Bootcamp, hosts Mapalo Makhu and Maya Fisher-French explore the emotional aspects of money management. With a focus on financial trauma, they discuss how our upbringing and past experiences shape our relationship with money and the significance of understanding these emotions. How these emotions can either empower or hinder our financial decisions.
Mapalo and Maya share personal anecdotes and real-life examples, illustrating the profound impact of financial trauma on individuals' behaviours, from procrastination in checking bank statements to compulsive spending. They emphasise the importance of confronting these emotions and the necessity of having open conversations about money, whether with friends or partners.
Listeners will gain insights into the concept of 'money vows' - the promises we make to ourselves based on our financial experiences - and how these can influence our current financial habits. The episode also addresses the psychological triggers behind retail therapy and excessive spending, encouraging listeners to reflect on their emotional drivers.
Join Mapalo and Maya as they guide you through the complexities of money and emotions, equipping you with the knowledge to embark on your financial transformation journey. Remember, understanding your emotions around money is the first step towards achieving financial wellness.
Don't forget to download the money questionnaire from our website to kickstart your journey!
- Understanding Financial Trauma
- The Impact of Upbringing on Money Mindset
- Confronting Financial Fears
- The Importance of Open Conversations about Money
- Exploring Money Vows and Their Influence
- Retail Therapy and Emotional Spending
- Empowering Yourself through Financial Awareness
This podcast series is designed to motivate and inform you as you navigate your personal financial transformation. Stay tuned for more insightful discussions in this season!
In this episode of "Know Your Ombud," host Maya Fisher-French speaks to Howard Gabriels, the head Ombud for credit, to unpack consumer rights when it comes to taking out credit.
This episode aims to empower listeners by clarifying the roles of various Ombud schemes, including the National Financial Ombud, and the importance of lodging complaints against financial institutions.
Maya and Howard delve into the types of complaints handled by the credit division, which encompasses a wide range of credit providers, from retailers to micro lenders. They discuss the critical issue of reckless lending, highlighting how consumers can seek recourse if they believe they have been treated unfairly. Howard shares insights from real cases, illustrating how the Ombud intervenes to resolve disputes and improve industry practices.
This includes a case study on the abuse of value-add services which are often added to retail store accounts and how this can escalate a customer's debt. This case led to a major policy change for a retailer, ultimately benefiting thousands of consumers. It also highlights the importance of checking statements and understanding the implications of credit agreements.
The episode also addresses the responsibilities that come with borrowing money, reminding consumers of the importance of communication with credit providers during financial difficulties. Maya and Howard stress that while consumers have rights, they also have obligations that must be honoured to maintain a healthy relationship with credit providers.
Join Maya and Howard as they navigate the intricacies of credit complaints and the vital role the Ombud plays in protecting consumer rights. Remember, the Ombud service is free and accessible, providing an essential resource for those feeling underserved by financial institutions.
If you feel let down by a financial service provider, you can contact the appropriate ombud scheme via the links below:
- FAIS Ombud: Disputes related to financial advice
- Office of the Pension Funds Adjudicator (OPFA): Disputes related to pension funds
- JSE Ombud: Disputes related to the JSE
- National Financial Ombud Scheme (NFO): Disputes related to banking, credit, and insurance
This podcast series was created in partnership with The Ombud Council.
In this episode of "Know Your Ombud," host Maya Fisher-French chats to Nerosha Maseti , the lead Ombud for banking services at the National Financial Ombud (NFO). This episode aims to empower consumers by shedding light on their rights and the processes involved in lodging complaints against financial institutions.
Maya and Nerosha discuss the common grievances that consumers have with banks, particularly focusing on the importance of understanding when to escalate issues to the Ombud after attempting to resolve them directly with their bank. They clarify the distinctions between banking complaints and credit-related issues.
Listeners will gain valuable insights into how the Ombud investigates cases, including those involving interest calculations and reckless lending. Nerosha shares real-life examples, illustrating the rigorous processes that the Ombud employs to ensure fairness and transparency in resolving disputes.
The episode also delves into the complexities of banking fraud cases, discussing the responsibilities of both consumers and banks when it comes to digital security. Nerosha emphasizes the importance of safeguarding personal banking information and the potential consequences of negligence in this area.
Join Maya and Nerosha as they demystify the Ombud's role, encouraging consumers to take charge of their financial rights and seek help when needed. Remember, the Ombud is a free service designed to assist you in resolving financial disputes, so don’t hesitate to reach out if you feel you’ve been treated unfairly!
If you feel let down by a financial provider, contact one of these trusted schemes:
* FAIS Ombud for financial advice disputes – faisombud.co.za
* Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes: pfa.org.za
* JSE Ombud for JSE-related issues: jse.co.za
* National Financial Ombud Scheme (NFO) for banking, credit, and insurance: nfosa.co.za
This series was created in partnership with The Ombud Council.
Know your Ombud is a series of conversations aimed at helping consumers of financial services understand their rights and where to go if they are not treated fairly.
In this episode of "Know Your Ombud," host Maya Fisher-French sits down with Reana Steyn, the head Ombud and CEO of the amalgamated National Financial Ombud (NFO), to discuss the significant changes in the financial Ombud landscape following the establishment of the National Financial Ombud Scheme. Reana shares insights on how this new single scheme aims to simplify the process for consumers, consolidating four previously separate Ombud schemes into one streamlined organisation.
Listeners will learn about the various types of complaints that can be addressed by the Ombud, the importance of initiating a complaint with the financial institution first, and the critical role of the Ombud in resolving disputes effectively. Reana emphasises that the Ombud service is free of charge, providing consumers with access to legal expertise without the need for costly lawyers.
The conversation also touches on the fairness jurisdiction of the Ombud, which allows for a broader interpretation of consumer rights beyond just the legal contract. Reana explains how the Ombud can advocate for systemic changes within financial institutions, ensuring that consumer interests are protected and that unfair practices are addressed.
Join Maya and Reana as they delve into the workings of the Ombud system, encouraging listeners to utilise this invaluable resource for resolving financial disputes and advocating for their rights. Remember, the Ombud is here to help you, so don't hesitate to reach out if you have a complaint!
If you feel let down by a financial provider, contact one of these trusted schemes:
* Ombud for Financial Services Providers (FAIS Ombud) for financial advice disputes: faisombud.co.za
* Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes: pfa.org.za
* JSE Ombud for JSE-related issues: jse.co.za
* National Financial Ombud Scheme (NFO) for banking, credit, and insurance: nfosa.co.za
This series was created in partnership with The Ombud Council.
Know your Ombud is a series of conversations aimed at helping consumers of financial services understand their rights and where to go if they are not treated fairly.
The financial Ombud schemes include the National Financial Ombud, the FAIS Ombud, the JSE Ombud and the Pension Funds Adjudicator, which are all overseen by the Ombud Council. Lodging a complaint with an Ombud is free and you do not have to appoint a lawyer.
In each episode, we speak to key persons from the ombud system to understand the cases they deal with and how the Ombud adjudicates complaints. We examine cases where the Ombud has ruled in favour of the consumer and those that go in favour of the financial institution.
In this introductory episode we interview Leanne Jackson, the CEO of the Ombud Council to understand how the financial Ombud system works in South Africa.
There have been significant changes since the establishment of the Ombud Council, which is the regulatory body that oversees the various financial Ombud schemes.
In this episode Leanne and Maya discuss the role of the Ombud Council but also how the Ombud schemes apply the principles of Treating Customers Fairly. This goes beyond just the legal contract and looks at whether the contract or treatment of the consumer was fundamentally fair. It also highlights the importance of consumers using the Ombud system which can lead to systemic changes in the financial sector.
If you feel let down by a financial provider, contact one of these trusted schemes:
- Ombud for Financial Services Providers (FAIS Ombud) for financial advice disputes – faisombud.co.za
- Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes – pfa.org.za
- JSE Ombud for JSE-related issues – jse.co.za
- National Financial Ombud Scheme (NFO) for banking, credit, and insurance – nfosa.co.za
This series was created in partnership with The Ombud Council.
In the latest episode of our podcast, host Maya Fisher French engages in an open and honest discussion about insurance, particularly focusing on long-term insurance and the often-overlooked area of employee benefits. Joined by certified financial planners Bryan Nicol and Johann Peens, the episode dives deep into the complexities of insurance coverage, highlighting the importance of understanding what you have vs what you actually need.
Most people have some form of long-term insurance, even if it is just through their company, but few understand what it covers and whether it is the right type of insurance for their needs.
Are you over-insured? Does your company provide life insurance and how does that work? Do you understand your premium pattern? Are you going to be able to afford your premiums in ten years' time?
Listen to this podcast, where we explain how insurance works and the right questions you should ask your employer and your financial adviser.
In this episode of "My Money, My Lifestyle," host Maya Fisher-French welcomes tax expert Andre Bothma to discuss the implications of recent tax proposals on personal finances as the new tax year begins.
Maya and Andre explore the concept of fiscal drag, where taxpayers find themselves paying more due to the lack of inflation adjustments in tax tables. They clarify common misconceptions about salary increases and tax brackets, emphasizing that the tax implication of earning more should not stop you from taking a salary increase. The conversation also touches on existing wealth taxes in South Africa, the impact of capital gains tax, and the notion that middle-class individuals often bear the brunt of tax burdens.
Listeners will gain insights into the complexities of tax compliance, the importance of making informed financial decisions without letting tax implications dictate choices, and the potential consequences of not adapting tax legislation to accommodate the growing self-employed and freelance workforce.
Join Maya and Andre as they unpack these pressing financial topics, providing listeners with valuable information to navigate their personal tax situations effectively.
In this episode of "My Money, My Lifestyle," host Maya Fisher-French engages in a deep dive into the complexities of the national budget and its implications for taxpayers with Chris Axelson, the acting head of tax and financial sector policy at National Treasury. As the government navigates the contentious landscape of tax collection, Axelson sheds light on the recent adjustments to the budget, including a shift from an ambitious VAT increase to more modest measures aimed at generating 28 billion rand in revenue.
They explore the delicate balance between raising taxes and maintaining economic growth. They discuss the implications of various tax instruments, such as personal income tax, corporate tax, and VAT, and how these decisions are made amidst pressures from both revenue needs and household impacts. Axelson explains the concept of fiscal drag and how it effectively raises personal taxes without changing rates, often leaving taxpayers unaware of the increase.
Listeners will gain insights into the priorities for the additional tax revenue, including funding for essential services such as education and healthcare, as well as the challenges of addressing corruption and inefficiencies within government spending. Chris also addresses the importance of tax compliance and the role of SARS in improving revenue collection.
Join Maya and Chris Axelson as they unpack these critical financial topics, providing listeners with a clearer understanding of how budget decisions affect their wallets and the broader economy.
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Overview of the national budget and tax implications
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The shift from VAT increase to alternative revenue measures
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Understanding fiscal drag and its impact on personal taxes
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Balancing tax increases with economic growth
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Priorities for additional tax revenue allocation
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The role of SARS in improving tax compliance
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The complexities of government spending reviews
This podcast is in partnership with National Treasury.
In this episode of "My Money, My Lifestyle," Maya Fisher-French has a thought-provoking discussion with financial expert Hugh Hacking of Momentum Corporate about the recent interest rate cuts and their implications for retirees and investors.
With prime rates dropping from 11.75% to 11%, the conversation unpacks how these changes affect both life and living annuities.
This episode explains how annuities work, how interest rates influence their pricing and attractiveness as well as the differences between life and living annuities.
Listeners will gain insights into the balance between guaranteed income and the risks associated with living annuities, including the potential for running out of funds during retirement.
The episode also highlights the importance of blending different annuity types to create a sustainable retirement income strategy. Hugh shares practical advice on how retirees can optimize their portfolios, manage costs, and ensure they have enough resources to cover unexpected expenses.
Join Maya and Hugh as they unpack these critical financial concepts, providing listeners with the knowledge to make informed decisions about their retirement planning.
- Overview of recent interest rate cuts and their impact on retirement planning
- Understanding life annuities vs. living annuities
- How bond rates affect annuity pricing
- The risks and benefits of living annuities
- Strategies for blending annuities for a sustainable income
- Importance of cost management in retirement planning
- Final thoughts on securing financial stability in retirement
In this episode of "My Money, My Lifestyle," host Maya Fisher French interviews Adrian Hope-Bailie, founder of Fynbos Money, a new investment platform designed to simplify and reduce the costs of investing.
Adrian shares his journey of creating a platform that addresses the common question: "Where do I start investing?"
With countless unit trusts and investment options available, it is unsurprising that people feel overwhelmed by choice. The need to simplify choice and administration motivated Adrian to create Fynbos Money, which focuses on emergency and tax-free savings accounts.
The key behind the Fynbos Money model is that it allows users to set up a single debit order that allocates funds to various savings and investment goals, users can focus on their financial future without the stress of managing multiple accounts.
Listen to the full podcast, where Maya asks Adrian deeper questions about who is behind Fynbos Money, how they keep investors' funds safe, how they select funds, and their future plans.
- Introduction to Fynbos Money and its mission
- The common question: Where to start investing?
- Importance of emergency funds and tax-free savings accounts
- Unique features of Fynbos Money: automation and goal tracking
- Understanding fees and the subscription model
- Fund selection and investment safety
- Empowering users for financial wellness
Fynbos Money sponsored this podcast
In this episode of "My Money, My Lifestyle," host Maya Fisher French chats about side hustles with Willem Gous, author of "Side Hustle Success." With nearly half of employed South Africans engaging in side businesses, the conversation explores practical strategies for starting a side hustle on a shoestring budget without significant risk.
Maya and Willem discuss the importance of testing business ideas quickly, emphasizing that waiting for funding or a perfect plan can stall progress. Willem shares insights from his book, highlighting that potential entrepreneurs should leverage their existing resources and focus on understanding customer needs rather than getting bogged down in traditional business planning.
Listeners will learn about the significance of setting time limits for their side hustles, the value of starting small, and the power of listening to customers to identify viable business ideas. Willem offers practical examples, including how one woman turned her baking hobby into a thriving business without the need for initial funding and how to start a clothing brand without owning stock. The episode also addresses the psychological barriers that often hold aspiring entrepreneurs back and provides actionable advice on overcoming these challenges.
The bottom line is that if you can't start your business in five minutes, you may need to move on to a different business.
Join Maya and Willem as they demystify the side hustle journey, encouraging listeners to take action, embrace experimentation, and ultimately, find financial freedom through entrepreneurship.
Why are so many people who earn a good income, who would be considered high-net-worth individuals, struggling with debt? We all believe if we earned a bit more, our financial issues would disappear, yet this appears not to be the case.
In this episode of "My Money, My Lifestyle," host Maya Fisher French is joined by certified financial planner Johan Werth to understand why so many high-net-worth individuals are struggling with debt. With debt levels rising faster among higher-income earners than their lower-income counterparts, Maya and Johan unpack whether this is a financial or behavioural issue and what steps can be taken to address it.
Johan shares his insights into the lifestyle inflation that often accompanies increased earnings, leading many to live beyond their means despite substantial incomes. They discuss the impact of rising living costs, the temptation of easy credit, and the societal pressures to maintain a certain lifestyle. Maya and Johan emphasize the importance of financial literacy, tracking expenses, and the critical need for a financial plan to avoid the debt trap.
Listeners are encouraged to reflect on their own financial habits, consider the long-term effects of lifestyle creep, and take proactive steps to build a sustainable financial future. Johan offers practical advice on budgeting, understanding personal inflation, and the significance of starting to save early, even with small amounts.
This episode offers insights into how individuals, regardless of their income level, can break the debt cycle and achieve financial stability. Tune in to discover how you can take control of your financial destiny and make informed decisions that align with your life goals.
✍️ Episode References
Debt Busters: https://www.debtbusters.co.za/
City Press Money Makeover
To kickstart 2025 with financial wisdom Maya Fisher French sits down with Fulu Mashapha, author of "Mind Your Cents: A Practical Approach to Financial Freedom."
Fulu wrote her book based on her experiences of money as a young child and as a graduate starting her career. In this podcast Fulu shares with Maya her journey from university to becoming a financially savvy actuary and her experiences of navigating the world of finance as a young professional. From understanding the diverse personalities money can take on to the importance of managing your finances no matter your income level, Fulu's experiences offer relatable and actionable advice for young professionals.
Fulu recounts her first year of work, the unexpected costs of adulting, and the reality of lifestyle inflation. Learn about the critical steps she took before buying her first car and property, and how she navigated the pitfalls and challenges of property investment. Fulu also sheds light on her investment strategy, balancing between professional management and personal experimentation, and the importance of long-term planning.
Whether you're just starting out in your career or looking to refine your financial strategy, Fulu's story is a testament to the power of informed decision-making and financial literacy. Tune in to gain invaluable insights and start your year on the right financial foot.
You can purchase Fulu's book Mind Your Cents by clicking here: https://mashelenigroup.co.za/product/mind-your-cents/
Join hosts Maya Fisher French and Mapalo Maku in this special episode as they reflect on the incredible journey of Santam staff members who participated in the six-month Santam Insure Your Future Money Bootcamp. This transformative experience culminated in a final event that celebrated the courageous individuals who opened up their financial lives to scrutiny, embraced change, and achieved remarkable personal growth.
The episode shares the mentees' powerful testimonials about their newfound financial empowerment. Discover how the bootcamp helped them overcome fears and shame around money, leading to improved financial literacy and self-discovery. Participants learned to read the fine print, question financial entities, and understand the implications of their financial choices. This newfound confidence allowed them to have open conversations about money, not just with themselves but also with their families, breaking cycles of poverty and setting a positive example for their children.
Throughout the episode, Maya and Mapolo share invaluable tips and insights from the bootcamp, including the significance of reviewing bank statements, managing subscriptions, and understanding debt statements. The episode also addresses the psychological aspects of money management, encouraging a positive mindset and intentional financial planning.
Join us in this episode to learn how you can transform your financial mindset, gain control over your money, and embark on your journey to financial empowerment. Listen now and be inspired by the incredible stories of those who have taken charge of their financial futures.
The Psychology of Financial Decisions
In this episode of the "My Money, My Lifestyle" podcast, host Maya Fisher French chats to Rudolph Geldenhuys, the Financial Planner of the Year, about the psychology behind financial decision-making. They discuss the importance of understanding the 'why' behind one's financial actions.
Rudolph, who has been in the financial services industry for over a decade, shares his journey of overcoming imposter syndrome and embracing his calling to help people make better financial decisions. His insights shed light on the fact that while technical, financial planning is crucial, the emotional and psychological aspects are equally significant.
We look at real-life scenarios, such as the emotional choice of withdrawing retirement funds for immediate desires and the need for a balanced approach to financial planning that considers both short-term and long-term consequences.
Listeners are encouraged to reflect on their financial motivations and the trade-offs they are willing to make. Rudolph introduces the concept of the 'decision-free zone,' a framework to help people categorise their financial decisions based on urgency and impact. This practical advice empowers listeners to manage their resources—time, money, and energy—more effectively.
The episode also explores the universal question of financial security: "Am I going to be okay?" Rudolph emphasises addressing this concern by aligning financial decisions with personal values and life goals. He advocates for a holistic approach to financial planning that goes beyond numbers, focusing on the human element and the pursuit of a meaningful life.
Whether you're facing retirement, contemplating a major purchase, or simply seeking to improve your financial well-being, this episode offers valuable insights and actionable advice. Tune in to gain a deeper understanding of the psychology of money and learn how to make decisions that truly serve your best interests.
Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.
In our previous episodes we have spoken about building wealth, but what about succession and building intergenerational wealth? How do you protect your family but also transfer wealth to future generations?
We are joined by Moremadi Mabule, a fiduciary expert, to explore the complexities of wills, estate planning, and the often-overlooked aspect of tax implications upon death.
Estate planning is not just for the wealthy; it’s about ensuring that your accumulated wealth is passed on to future generations.
In writing up a will and planning your estate you also need to look at issues such as estate duty, and the impact of executor fees, which can be as much as 4% of your entire estate. Moremadi explains how to navigate these costs and the strategies you can employ to minimise them, such as negotiating executor fees and planning for tax implications.
The episode also covers the importance of keeping your retirement fund nomination forms up to date, as well as understanding how retirement benefits are treated differently from other assets in your estate. We explore the concept of testamentary trusts and beneficiary funds, which can protect your children’s inheritance and ensure it is used as intended. Moreover, we touch on the sensitive topic of selecting a guardian for your children and how to structure your will to safeguard their future financially. The discussion extends to the importance of having a living will and the role it plays in making your wishes known should you become incapacitated. Join us for this insightful episode as we uncover the steps you can take to secure your legacy and ensure your wealth benefits those you care about most.
This week Finance Minister Enoch Godongwana announced the Medium-Term Budget which is tabled every year in October.
Most people only really care about the February budget because that is where the minister announces the changes to taxes. But the medium-term budget is packed with really important information about how government is going to be collecting and spending our money over the next three years. It also gives us some idea about what we can expect in February and whether taxpayers will be on the hook.
In this podcast I am joined by Gcobisa Magazi, Director: Public Finance at National Treasury to discuss the medium-term budget.
We discuss the significance of the medium-term budget, often mislabelled as a "mini budget," and explore its role as a policy statement outlining government priorities and fiscal strategies.
Key topics include the challenges of revenue collection, unexpected expenditures, and the government's strategy to manage debt, which currently consumes 21% of the budget. We also delve into the concept of fiscal anchoring, a legislative approach to ensuring sustainable fiscal policy, and the balancing act required to meet the needs of a financially vulnerable population while striving for a primary budget surplus.
Join us for an insightful conversation on the intricacies of public finance, the importance of economic growth, and the government's efforts to balance debt management with essential social and infrastructure spending.
Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.
In this episode, we delve into the intricacies of retirement planning with Johann Steyn, a certified financial planner at Rainmaker Bluestar by Sanlam. As one approaches retirement, the need for strategic financial planning becomes critical – not only to understand your financial position, but also to maximize your tax options. Johann shares insights on how to prepare for retirement, whether you're five years away or just a year before. He emphasises the importance of setting realistic expectations, understanding legislative options, and the purchasing power of your money.
One of the critical discussions revolves around having a retirement budget and the importance of eliminating debt before retiring. Johann advises on the significance of understanding your expenses and what you would need to do if you planned on retiring early. The conversation also touches on the misconceptions surrounding lump sums vs income and the reality of life expectancy.
The episode further explores the different retirement products available, such as living annuities and life annuities, discussing when each is appropriate. Johann highlights the benefits and risks associated with these products, including market volatility and the potential for a hybrid approach. The importance of maintaining a medical scheme in retirement is also discussed, considering the high inflation rate of medical expenses.
In the podcast we also discuss the role of tax-free savings accounts as a supplement for retirement, offering insights into how they can be strategically used to provide tax-free income later in life.
Join us for a comprehensive discussion on retirement planning, ensuring you have the knowledge to maintain your dignity and independence in your golden years.
Welcome to the Santam Insure your Future money boot camp with Maya Fisher-French and Mapalo Makhu.
In the last two episodes we looked at saving and investing for those goals we want to achieve during our working years. But at some point, we want to kick back and retire, or at least have choices about whether we want to continue to work or not.
One of the massive challenges of retirement funding is that we are living way past our retirement age. Some companies have a retirement age of 60 and given that many people are expected to live to nearly 90 years old – that is 30 years of retirement you need to fund.
There are only really two ways to do this: either you start from your first paycheque and put away about 18% of your salary, or you defer retirement to age 65. But even then, you probably need to be putting away at least 15% of your salary from the age of 25 to be able to retire comfortably. Most people find they must supplement their retirement income in some way and next episode we will look at more detail around strategies at retirement, but in this podcast we discuss “how much is enough”, the importance of settling debt before retirement, how to go about investing for retirement and the various investment products.
In this podcast we also explain the implementation of the Two Pot retirement system and how that is going to affect retirement outcomes.
Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.
Last episode we focused on saving for shorter-term goals, but what about those medium to longer-term goals like your child’s tertiary education in ten years or time, or leaving your child a legacy? Maybe you want to start your own business one day? How do you start?
The episode begins with the importance of setting clear and achievable financial goals, providing a practical example of calculating future education costs, illustrating how inflation can significantly impact the amount you need to save.
One of the key takeaways is the distinction between interest and growth. While interest is a guaranteed return from a bank, growth involves investing in assets that increase in value over time. They highlight the benefits of investing in unit trusts and exchange-traded funds (ETFs) as effective ways to achieve capital growth.
A significant portion of the episode is dedicated to the advantages of tax-free savings accounts (TFSAs). Introduced in 2015, TFSAs offer a tax-efficient way to save and invest. Maya and Mapalo explain how TFSAs can be used for various financial goals, including saving for your child's education and supplementing your retirement fund. They stress the importance of viewing TFSAs as long-term investment vehicles rather than regular savings accounts.
The hosts also explore the opportunities and benefits of investing offshore. They discuss how local funds can invest on your behalf overseas, providing exposure to global markets. For those looking to build assets outside South Africa, they recommend starting with local companies that offer offshore investment products.
Maya and Mapalo caution against the use of endowment products for education savings. They argue that these products often come with high fees and tax implications that may not be beneficial for most investors. Instead, they advocate for simple, low-cost investment options like TFSAs and unit trusts.
Join Maya and Mapalo for an enlightening discussion that will help you secure your financial future.
Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.
In this episode we help listeners give up the debt dependency by having a savings plan. We look at why we save and what goals we should be saving towards. We also delve into the concept of an emergency fund—why it's essential and how to build it. Contrary to popular belief, a credit card is not an emergency fund!
We discuss practical strategies for setting up an emergency fund and the benefits of having a financial cushion for unexpected expenses. We look at the different type of accounts to use for your emergency fund and debate whether you should use your mortgage as part of your financial buffer.
We explain how to save for school fees and those daily school expenses as well as how to help your parents build a home without taking on debt.
By anticipating these costs and saving in advance, you can avoid the stress of last-minute financial scrambles.
As we mark National Wills Week, there's no better time to address the importance of having a properly drafted will.
In the latest episode of our podcast, Maya Fisher-French sits down with Deenisha Nadesan, Executive Director of Estates at Capital Legacy, to discuss the common pitfalls people encounter when drafting their wills and how to avoid them.
This is not just a matter of legal formalities; it's about ensuring that your hard-earned assets are distributed according to your wishes, thus preventing family disputes and financial ruin.
Marriage contracts are a significant area of concern. Many people don't understand how their marriage contract affects their will.
Misunderstandings here can lead to complications and unintended consequences, such as one spouse inadvertently receiving more than intended. Another critical issue is the witnessing of wills.
According to Nadesan, a will must be signed by the testator and witnessed by two competent witnesses who are present simultaneously. These witnesses cannot be beneficiaries or their spouses, a detail that often trips people up and can render a will invalid.
Property inheritance is another complex area. Many people wish to leave their property to their children but don't consider the practicalities. For example, minors can technically own property, but they can't manage it. This can be solved by setting up a testamentary trust to manage the property until the child is of age. Additionally, if a property is left to multiple children, it can lead to disputes over maintenance costs, selling decisions, and more.
Then there's the matter of pensions. Many mistakenly believe their pension forms part of their will. However, pensions are governed by the Pension Funds Act, and the trustees of the pension fund make the final decision on who benefits. This underscores the importance of understanding what assets fall under your will and which do not.
The costs of winding up an estate can also be eye-watering. From executor fees to estate duty and even capital gains tax, the financial burden can be significant. Therefore, it’s essential to ensure there’s enough liquidity in your estate to cover these costs, either through life cover or other means.
In conclusion, while free wills or DIY templates might seem like a quick fix, they often lead to more problems than they solve. Consulting with a fiduciary expert can save your family a lot of heartache and financial strain. As Nadesan aptly put it, “What's worse than having no will is having a will that's not properly drafted.” So, take this National Wills Week as an opportunity to get your affairs in order. Your future self—and your family—will thank you.
This podcast was sponsored by Capital Legacy.
Welcome to Life Behind the Numbers, a Discovery Life podcast series where we delve into the trends driving insurance claims and explore how this data can help us improve health outcomes.
In this episode of Life Behind the Numbers, host Maya Fisher-French speaks with Gareth Friedlander, Deputy Chief Executive of Discovery Life, and Daniel Stoch, Senior Manager of Market Analytics and R&D.
They delve into Discovery Life's shared value insurance model, discussing how it benefits members by promoting healthier lifestyles and offering financial rewards. They also explore the sustainability of the model, the proactive claims initiative, and how life cover can supplement retirement savings. Tune in to learn how comprehensive life insurance can protect you and adapt to your changing needs.
This podcast series was sponsored by Discovery Life
Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.
In our last episode we spoke about life and risk cover – this is insurance that pays out if something goes wrong with our health or we pass away. But equally important is health insurance to help pay those medical bills. And it is not just about doctor visits but also if we end up in hospital or require chronic treatment. Sadly, in South Africa we cannot necessarily rely on government health options, so most people use the private sector which means having some kind of health cover.
In this podcast we are joined by Mbali Khumalo of Simeka Health to help guide listeners on how to select the best medical option for their needs. We get past the jargon and explain the concepts of hospital plans, comprehensive medical scheme cover, gap cover and medical insurance. We look at the costs and benefits of each and what makes the most financial sense. By the end of this podcast you will be well informed!
In this podcast discussion Old Mutual Chief economist Johann Els explains why he believes we could see the rand strengthen to R14/R15 to the USD.
He explains how a softer US dollar, combined with better growth prospects in emerging economies, could lead to a stronger rand. This is particularly relevant for investors looking to balance their portfolios. Els discusses his overall economic outlook and the potential of economic growth. Given the current economic climate, Els suggests that local investments offer better returns and lower risks and why one should be overweight in South African investments as opposed to offshore investments.
We discuss the broader economic outlook for South Africa. With a focus on private sector growth, improved fiscal policies, and potential upgrades in investment grade ratings, there are several reasons to be optimistic about the country's economic future.
Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.
Risk cover can feel like a grudge purchase, especially when budgets are tight, it is also not as exciting as investing, yet it is one of the most important aspects of your financial plan. Very few people understand the various risk products such as income protection and critical illness so in this episode, we are joined by Johann Steyn, a certified financial planner at Rainmaker BlueStar by Sanlam who provides outstanding insight into the cover you do need, and what you don’t need.
Johann explains the necessity of a proper financial plan to determine the right amount of life cover, taking into account factors like debt, education costs, and income replacement. He also discusses the differences in insurance needs based on age and life stage, highlighting that younger individuals might prioritise income protection over life cover.
The conversation covers various types of risk cover, including critical illness, disability cover, and income protection, and the importance of understanding employee benefits. Johann sheds light on the complexities of premium patterns and the significance of planning for long-term affordability.
For those nearing retirement or facing high premiums, Johann offers strategies to manage costs, such as converting life cover policies or adjusting coverage based on changing needs.
This episode is packed with valuable information to help you navigate the intricacies of life cover and ensure your financial plan is robust and comprehensive.
Welcome to Life Behind the Numbers, a Discovery Life podcast series where we delve into the trends driving insurance claims and explore how this data can help us improve health outcomes. While many risks are beyond our control, there are steps we can take to mitigate them. By adopting proactive and healthier lifestyles, we can reduce the incidence of severe diseases and even mortality.
In this episode, we explore the significant impact of health screenings on severe illness claims, particularly cancer. Maya is joined by Discovery Life Deputy Chief Executive Gareth Friedlander and Chief Medical Officer Dr. Maritha van der Walt who shed light on the correlation between screening and claims, highlighting the dramatic drop in screenings during the COVID-19 pandemic and the subsequent rise in late-stage cancer diagnoses.
We also delve into the broader implications of these findings for life insurance and the substantial increase in payouts under Discovery Life's living benefits, such as severe illness, disability, and income protection, which in 2023 exceeded death benefit payouts. As a result, Discovery Life has responded by investing heavily in screening initiatives, leading to a notable increase in early-stage cancer diagnoses in 2023.
For more information on preventative screening go to https://www.discovery.co.za/medical-aid/screening-and-prevention-cover
This podcast series was sponsored by Discovery Life
Welcome to the Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This is a series of podcasts that you can follow to help create your own money journey. We share our experiences in working with individuals who turned their finances around in just six months.
In this episode, we tackle the issue of managing excessive debt, especially in the face of rising interest rates and inflation. Many people are struggling to meet their debt repayments, and we are here to offer practical solutions and insights to help you regain control of your finances. We explain concepts like the snowball method, how to have a conversation with your creditors, and the pros and cons of debt consolidation. We also explain debt review, how it works and what to watch out for. By making small sacrifices and reallocating funds, you can make a substantial dent in your debt.
Don't forget to download our budgeting and credit agreement templates to help you on your journey to financial freedom
Inflation is a term we hear often, especially when discussing the economy and our personal finances. But have you ever wondered how it's calculated and why it sometimes feels like your expenses are rising faster than the official inflation rate? In our latest podcast episode, I am joined by Sanisha Packirisamy, Economist at Momentum Investments to help unpack the the intricacies of inflation calculation in South Africa, shedding light on some common misconceptions.
One of the key points discussed is the concept of the Consumer Price Index (CPI) basket. This basket represents a range of goods and services that the average household consumes, and its prices are tracked over time to calculate the inflation rate. However, as our guest Sanisha explains, this basket is reweighted every five years to reflect changes in consumer habits. For instance, items like DVD players have been replaced by more relevant products like smartphones and streaming services.
Sanisha also touches on the "owner's equivalent rent," a term that might seem confusing at first. Essentially, it estimates what homeowners would pay if they were renting their own homes. This figure is crucial for calculating housing costs within the CPI basket. Interestingly, due to the soft housing market in recent years, rental inflation has been lower than overall inflation, which affects the average inflation rate.
The episode also explores how different income groups experience inflation differently. Lower-income households spend a larger portion of their income on necessities like food and public transport, making them more sensitive to price increases in these areas. In contrast, higher-income households might spend more on services and luxury goods, which can distort their perception of inflation.
Behavioral biases also play a role. For example, we tend to notice price changes in items we purchase frequently, like groceries and fuel, more than in items we buy less often, like electronics or cars. This can make us feel like inflation is higher than it actually is.
Moreover, the podcast delves into the impact of global events like the Covid-19 pandemic and geopolitical conflicts on inflation. These events can cause sudden spikes in prices for essential goods, further complicating our understanding of inflation.
So why does the official inflation rate often seem out of sync with our personal experiences? The answer lies in the complexity of the CPI basket and the various factors influencing it. By understanding these nuances, we can better grasp why our bills might not always align with the official figures.
Tune into our latest episode to get a comprehensive understanding of how inflation is calculated and why it might not always match your personal experience. Whether you're an economist or just someone trying to make sense of your monthly expenses, this episode offers valuable insights that you won't want to miss.
Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. In previous episodes we have focused on budgeting and living within your means, but at some stage everyone will need to access credit. But how do you do that in a responsible and sustainable manner?
We begin with a cautionary tale from Thato, one of our mentees, who illustrates how easily consumer debt can accumulate. From small loans and credit cards to store accounts, many find themselves in financial turmoil without realising how they got there. Thato's story serves as a reminder of the importance of understanding the true cost of debt and making informed decisions.
We explore the concept of good versus bad debt, providing practical examples such as using a loan for education or a car versus funding a lifestyle you can't afford. Maya and Mapalo discuss the emotional aspects tied to borrowing and how to avoid the pitfalls of succumbing to tempting offers from banks and credit providers.
We also delve into the mechanics of credit cards, the myths surrounding the interest-free period, and the importance of paying off your balance in full each month. Mapalo shares a poignant story of a client who fell into the trap of using credit to fit in socially, highlighting the emotional triggers that can lead to poor financial decisions.
For those looking to build a credit record responsibly, we offer actionable advice on how to do so without falling into debt. From setting realistic credit limits to understanding the impact of your banking behaviour on your credit score, we cover all the bases.
We wrap up with a discussion on car finance, including the dangers of balloon payments and the long-term financial commitment they entail. Maya shares insights from her experience on how to negotiate better terms and avoid unnecessary fees, ensuring you make the most financially sound decision possible.
Join us for this comprehensive guide to borrowing wisely, and don’t forget to complete the credit agreement worksheet available in this link. Your journey to financial freedom starts with understanding and managing your debt effectively.
Welcome to Life Behind the Numbers, a Discovery Life podcast series where we delve into the latest claim statistics with experts from Discovery Life.
In this episode, we explore the fascinating concept of insuring yourself in a hard currency like US dollars. Maya is joined by Discovery Life's Deputy Chief Executive Gareth Friedlander and Head of Market Analytics and R&D, Kashmeera Kanji, to discuss the benefits and mechanics of the Dollar Life Plan.
Discover why South Africans are increasingly opting for life cover that pays out in US dollars and how this can serve as a hedge against currency fluctuations and depreciation.
We explain how the cover works, when it is appropriate and why, even if premiums are paid in rands, all benefits are paid internationally.
The episode also covers the practicalities of managing premium costs, the innovative exchange rate protector feature, and how you can diversify your life insurance portfolio with offshore options.
Whether you have family abroad, liabilities offshore, or simply want to protect your wealth, this episode provides valuable insights into the advantages of dollar-denominated life insurance.
For more information on comprehensive life insurance cover and how it can adapt to your changing needs, visit the "Covering What You Care About" section on Discovery Magazine's Smart Money Hub at Discovery.co.za. Here, you'll find a wealth of resources to strengthen your financial footing. You can also speak directly to a Discovery certified financial advisor for personalised advice.
This podcast was sponsored by Discovery Life
Welcome to the Santam Insure Your Future Money Bootcamp with Mapalo Makhu and Maya Fisher-French.
In this, the third episode in the series, we delve into the financial intricacies of making major purchases, specifically focusing on buying a home and a car.
We are joined by Tshiamo, one of our mentees from last year, who shares her eye-opening experience of unexpected costs when purchasing property. From transfer duties and bond initiation fees to the often-overlooked levies and municipal rates, buying a home involves more than just the deposit.
We discuss the emotional aspects of home buying, recounting personal stories and offering strategies to manage these significant financial commitments.
The episode transitions to the topic of buying a car, stressing the importance of affordability beyond just the monthly instalments. We explain why we advocate for buying second-hand cars, sharing our personal experiences and tips for ensuring you get the best deal without compromising on quality or financial stability.
Join us as we explore these essential financial topics and share practical advice to help you navigate your money journey. You can access the worksheets under Resources
With SARS announcing the opening of tax season on 15 July, it's crucial to understand the complexities of filing tax returns and how to maximise any tax breaks.
Joining us to unpack this topic is tax expert Andre Bothma and Poobalan Govender, Acting Head of Old Mutual Rewards, who will explain how Old Mutual Rewards members qualify for discounted rates when using digital tax assistant TaxTim.
In this podcast Andre Bothma provides essential insights on who should file a tax return and the importance of timely submissions to avoid penalties. He also clarifies the auto assessment process by SARS and the importance of verifying these assessments to ensure all income and deductions are accurately reported.
Andre highlights common mistakes people make, such as failing to declare additional income or not keeping a logbook for travel deductions. He also reminds taxpayers of the various deductions available to individuals, such as retirement annuity contributions, travel allowances, and donations to public benefit organisations.
Poobalan Govender introduces the partnership between Old Mutual Rewards and TaxTim, a digital tax assistant designed to simplify the tax filing process. Members of Old Mutual Rewards can access substantial discounts on TaxTim services, making professional tax assistance affordable and accessible.
Poobalan explains the various membership tiers and the corresponding discounts available. Andre also shares his perspective on when to use a digital service like TaxTim versus seeking personalised assistance from a tax practitioner, especially for complex tax situations or future tax planning.
Don't leave your tax return to the last minute. Use the resources available, such as TaxTim, to ensure your tax return is accurate and submitted on time. If your tax situation is complex, consider consulting a tax specialist.
This podcast was sponsored by Old Mutual Rewards
Are you ready to take control of your financial future? The Santam Insure Your Future Money Bootcamp is here to guide you through a transformative journey that will help you understand and master your finances. Hosted by Maya Fisher-French and Mapalo Makhu, this podcast series is designed to help you build a solid financial foundation, no matter where you are on your money journey.
In the second episode of the Santam Insure Your Future Money Bootcamp, Mapalo and Maya dive into the topic of budgeting and how taking control of your day-to-day spending can significantly reduce financial anxiety. With real-life anecdotes and practical advice, this episode is a must-listen for anyone looking to gain financial clarity and peace of mind.
Listeners will hear from Thato, who shares how her anxiety around money diminished once she created a budget, and the story of Pam, who discovered she had more money than she realised once she started tracking her expenses. The episode also features a conversation with Sbongile, a mentee from last year’s cohort, who transformed her financial habits and mindset through budgeting.
Mapalo and Maya discuss different budgeting approaches, including zero-based budgeting and the 50/30/20 rule, emphasising the importance of finding a method that works for your unique lifestyle and financial situation. They also explore the concept of a survival budget and how it can provide a safety net during financial shocks.
Whether you're new to budgeting or looking to refine your financial strategy, this episode offers valuable insights and practical steps to help you take control of your finances. Download the budget template from our resource page and start tracking your expenses today. Share your experiences with us by sending a voice note to 062-174-0145.
Welcome to "Life behind the nNumbers," a Discovery Life podcast series. Host, Maya Fisher-French, together with experts from Discovery Life, delve into the latest trends from Discovery Life claims research, highlighting the need for both physical and financial protection against various risks.
In this episode, we tackle a topic often overlooked: the importance of child cover and the financial implications of unexpected events affecting our children. Joined by Kashmeera Kanji, Head of Market Analytics and R&D, and Sylvia Steyn, Head of Claims and Servicing, we explore how child insurance can protect against the high costs associated with severe childhood illnesses whilst providing for education costs.
Kashmeera and Sylvia share insights on the hidden costs that medical schemes don't cover, such as taking time off work, home adaptations, and special schooling. We discuss real-life examples, like claims for childhood cancers, and the benefits of automatic child severe illness and parent care benefits.
We also examine the significance of protecting your child's educational future and how Discovery Life's Global Family Coverage and the Global Education Protector benefit ensure that your child's education is funded, even if you are no longer able to provide for it.
Sylvia highlights the unique University Funder benefit, which rewards parents for engaging in Vitality by contributing to their child's education costs.
Finally, we explore the importance of diversifying risk cover, including options for overseas education through the Discovery Dollar Life Plan and the Dollar Global Education Protector. These plans offer higher limits and cover the comprehensive costs of international education, providing peace of mind for parents.
To learn more about how comprehensive life insurance can protect you and your family, visit the "Covering What You Care About" section on the Discovery Magazine Smart Money Hub at Discovery.co.za. You'll find a wealth of resources to strengthen your financial footing. For more details on Discovery Life's full range of cover benefits, speak directly to a Discovery certified financial advisor.
Created by consumer financial journalist Maya Fisher-French and financial coach Mapalo Makhu, the Santam Insure your Future Money Bootcamp is a podcast designed to help you create your own financial money journey.
In this special series, we bring you the transformative journey of financial education. Over the next six months, through 13 episodes, we will guide you step-by-step on how to take control of your finances.
The podcasts will be realised every second week and you can follow the various steps of the money bootcamp with access to the documents and spreadsheets discussed in this podcast which you can fill in as you go along the journey by clicking on this link
In this introductory episode, we delve into the relationship between money and emotions. We discuss the fundamental importance of understanding your emotional connection to money as the first step in your financial journey. We share personal anecdotes and insights from our experiences working with individuals who have undergone significant financial transformations.
Listeners will learn about the various aspects of financial planning that will be covered in future episodes, including budgeting for daily expenses and major life events, managing healthy and unhealthy debt, distinguishing between saving and investing, and understanding life insurance, medical schemes, and retirement planning. Basically, we will cover all of those aspects that you need to put together your own financial plan
This episode also features a compelling story from Andiswa, who shares how completing a money mindset questionnaire helped her and her husband understand their financial emotions and improve their communication about money. Complete the money mindset questionnaire available under Resources and share your insights.
In this episode of My Money My Lifestyle, host Maya Fisher-French delves into the financial complexities of divorce with financial planner Kirsten Smit of Citadel Investments. They explore the alarming rise in divorces, particularly in the post-Covid era and among those over the age of 50. Kirsten shares insights on the financial upheaval that divorce brings, from splitting assets to managing two households, and the challenges women face during this transition.
Listeners will gain a comprehensive understanding of the importance of knowing one’s marital regime and the critical need to understand the family’s financial landscape. Kirsten emphasises the necessity of having updated values for assets, understanding liabilities, and the significance of a detailed income statement. The discussion also touches on the often-overlooked expenses and the financial implications of maintaining a family home post-divorce.
Whether you're contemplating divorce, in the midst of it, or simply want to safeguard your financial future, this episode offers invaluable advice on navigating the financial aspects of divorce. Learn how to create a sound parenting plan, the importance of having life cover, and the role of a financial planner in ensuring a fair and sustainable settlement. Tune in for practical strategies and empowering advice to help you bounce back and secure your financial independence post-divorce.
Wondering how to navigate the chaos of today's economic climate? Dive into our latest podcast episode where host Maya Fisher French and investment expert Debra Slabber from Morningstar South Africa explore the eight principles of successful investing. Discover why simplicity is your ally, how your savings rate impacts your financial future more than you think, and why the best action in a turbulent market might be inaction. The key to investment success lies not in chasing the latest trends or complex products but in embracing simplicity and discipline.
Whether you're a seasoned investor or just starting, this episode provides insights on building a resilient investment strategy that can weather the storms of volatility. Tune in to discover how to navigate the investment landscape with confidence, patience, and a steadfast commitment to simplicity.
In this episode of My Money My Lifestyle, host Maya Fisher-French is joined by financial advisor Munya Shumba to address a critical yet often neglected aspect of financial planning: prioritising your own financial future over solely focusing on your family's needs.
They explore the delicate balance between generosity and self-preservation, highlighting the need for parents and young professionals alike to establish firm financial boundaries.
Listeners will gain insights into how to navigate familial financial responsibilities without compromising their future, the power of starting investments early, and the critical role of having a financial plan in place. The conversation also touches on the pitfalls of debt as a means of family support and the psychological benefits of disciplined saving.
Whether you're a parent striving to provide the best for your child or a young graduate grappling with supporting your family while building your own financial foundation, this episode offers practical strategies and a fresh perspective on creating a sustainable financial plan that serves both your and your family's needs.
Tune in to understand how to maintain a healthy balance between supporting loved ones and investing in your own financial resilience, ensuring a stable future for all.
In this episode of My Money My Lifestyle, host Maya Fisher-French and financial planner Kirsty Scully tackle the daunting reality of expenses for young graduates entering the workforce.
With salaries that seem substantial on paper, they break down the sobering truth of the cost of living, from rent and groceries to utilities and transportation.
Kirsty brings invaluable insights on the financial hurdles faced by those in their early career stages, discussing the potential pitfalls of home ownership, the significance of saving for retirement from a young age, and the importance of medical cover. They also touch on the strategic ways to handle insurance costs and the advantages of shared living to mitigate expenses.
Listeners will learn the hard numbers behind what it truly costs to live independently as a new graduate. From the excitement of the first paycheque to the stark realisation of budget constraints, Maya and Kirsty guide you through practical financial planning to avoid common traps that can jeopardise financial stability.
Whether you're a recent graduate, a parent advising your child, or simply interested in understanding the financial challenges faced by young professionals, this episode is packed with strategies and advice to navigate the financial transition from student life to full-time employment.
Tune in to equip yourself with the knowledge to make informed decisions, prioritise financial goals, and take control of your financial future, one paycheque at a time.
In this eye-opening episode of My Money My Lifestyle, host Maya Fisher-French delves into the often contentious intersection of love and finance. Maya is joined by Queen Malobane Provincial General Manager at Metropolitan to unpack the complexities of dating and maintaining relationships when partners are in different financial leagues.
Queen's recent article on the subject serves as a springboard for a candid discussion about the power dynamics and emotional challenges that arise when one partner earns significantly more than the other. They explore the impact of societal values on relationships, where income disparity can create tension and test the resilience of love.
Maya and Queen offer personal anecdotes and practical advice for navigating these tricky waters. From the importance of open communication and transparency to setting boundaries with family members who may perceive one partner as a "gold digger," this episode tackles it all.
Listeners will learn how to approach sensitive financial discussions, the significance of mutual respect, and the necessity of creating a joint financial plan that considers both partners' circumstances. They also touch on the role of financial advisors in helping couples plan for the future, including investments, risk management, and estate planning.
Whether you're currently navigating a relationship with income disparity, planning to merge finances with a partner, or just seeking insights on love and money, this episode offers valuable perspectives and strategies. Tune in to gain the tools you need to build a relationship that thrives, not just survives, in the face of financial inequality.
(00:00) Maya introduces the topic of money and relationships
(02:15) Queen Malabane's insights on dating outside your financial league
(04:50) The importance of discussing money early in relationships
(07:30) Red flags to watch for on dates that indicate future financial friction
(10:20) The dynamics of power and control in relationships with income disparity
(13:40) The need for respect and appreciation of non-financial contributions in a partnership
(17:05) Dealing with family perceptions and setting boundaries
(20:35) Navigating financial support for extended family members
(24:00) Creating a fair and transparent joint financial plan
(27:45) The importance of including investments and retirement planning
(30:50) The role of financial advisors in relationship planning
(34:15) The impact of financial stress on relationships and the need for open communication
(37:30) Queen's concluding thoughts and Maya's wrap-up
In this practical episode of My Money My Lifestyle, host Maya Fisher-French tackles the often-overlooked details of short-term insurance contracts that can have a big impact on your wallet. Maya shares her personal discovery of significant hikes in her insurance policy when it came to excesses - prompting a deep dive into what policyholders can do to navigate these changes.
Joined by insurance expert Karen Rimmer from PSG Insure, they explore the trend of insurers adjusting excess fees and how this affects claims. Karen explains the reasons behind these industry shifts, including the aftermath of global events and local challenges like infrastructure woes and escalating crime rates.
Maya and Karen discuss the importance of understanding your insurance contract, the power of negotiation with insurers, and the concept of self-insurance—how to determine what risks you can manage yourself and what requires comprehensive coverage. They also highlight the benefits of having your property assessed, debunk myths about what insurance typically covers, and reveal valuable add-ons that might already be part of your policy.
Whether you're looking to cut costs without compromising coverage or simply want to ensure you're not caught off guard by hidden clauses, this episode is filled with actionable insights. Tune in to learn how to proactively manage your short-term insurance and make informed decisions that safeguard your lifestyle without breaking the bank.
(00:00) Introduction to short-term insurance surprises
(01:22) Maya's personal experience with excess fee increases
(03:40) Karen Rimmer explains the industry trend and its causes
(06:15) The impact of global and local events on insurance claims
(08:50) The role of risk underwriting and individual factors
(10:35) The shift towards a risk-sharing model between insurers and clients
(13:05) How to approach self-insurance responsibly
(15:30) The fine print: What to watch out for in your insurance contract
(17:45) The advantages of having an insurance assessor evaluate your home
(20:10) Uncovering hidden benefits in your insurance contract
(22:35) The value of expert advice from a financial advisor
(24:50) Special perks for policyholders over 55
(26:40) Closing thoughts on the importance of understanding your insurance details
In this insightful episode of My Money My Lifestyle, host Maya Fisher-French takes you behind the scenes of South Africa's national budget with the expertise of Mr. Edgar Sishi, Deputy Director General of National Treasury and Head of the Budget Office at National Treasury.
As the nation grapples with the impact of financial decisions, Maya and Mr. Sishi dissect the complexities of a R2.37 trillion budget, the daunting reality of debt servicing costs, and the delicate balance of tax collection.
Ever wondered about the gargantuan task of managing a country's budget amidst divergent opinions on taxation and spending? This episode shines a light on the intricate process of fiscal policy-making, the rationale behind the absence of bracket creep relief, and the contentious topic of wealth taxes. Maya also probes into the government's social wage spending, which accounts for a staggering 60% of the budget, and the introduction of the Corporation for Deposit Insurance, set to safeguard individual deposits up to R100,000.
But it's not just about the big numbers and policies. Maya and Mr. Sishi delve into the future of tax-free savings accounts and the innovative use of the gold and foreign exchange contingency reserve account to reduce national borrowing. This episode is a must-listen for anyone seeking clarity on South Africa's financial roadmap and the implications for personal finance.
Tune in to demystify the national budget, understand the implications of fiscal drag on your pocket, and explore the strategies National Treasury employs to ensure economic stability and growth. Get ready to be informed and empowered with this deep dive into the fiscal fabric of South Africa.
📋 Episode Chapters
(00:00) Maya Fisher French: Welcome to My Money, My Lifestyle podcast
(00:46) The Government plans on spending 2.37 trillion rand over the next financial year
(02:54) Mr. Edgar Sishi - Deputy Director General at National Treasury
(04:43) At National Treasury, there are many differing opinions about how to run budget
(09:14) South Africa's debt as a percentage of GDP is higher than other emerging markets
(13:40) Taxation affects us the most when preparing National Budget
(21:56) One of the things that we did in this budget is not provide bracket creep relief
(26:29) Six out of every ten rand collected in taxes is spent on social services
(31:40) South African Reserve Bank is taking money from its contingency reserve account
(37:59) On 1 April 2024, the corporation for deposit insurance comes into effect
(39:51) The future of Tax-Free Savings Accounts
In this comprehensive episode of My Money My Lifestyle, Maya Fisher-French, a seasoned freelancer herself, delves deep into the world of taxes with tax experts Kagiso Nonyane and Dumisa Sihawu, from BDO South Africa.
They tackle the complexities of tax for freelancers, from understanding why tax may be deducted from your earnings to the intricacies of tax directives and provisional taxpayer status.
Are you a graphic designer, writer, or any kind of freelancer juggling clients and projects? Then you have probably encountered the complexity of tax. Our experts break down the legalities, the percentages, and the dreaded tax surprise that may come knocking if you're not prepared.
But it's not all about what you owe. Kagiso and Dumisa also shed light on the deductions you can claim to minimise your tax liability and the benefits and burdens of VAT registration for freelancers. They even touch on when it makes sense to transition from a sole proprietor to a Pty Limited company, and the potential pitfalls of making this move for tax reasons alone.
If you've ever found yourself scrambling to pay a tax bill, or if you're considering voluntary VAT registration, this episode is a treasure trove of advice. Learn how to stay on top of your admin, avoid penalties, and maybe even find a silver lining in tax season. Plus, get insights into SARS' Voluntary Disclosure Programme and how it could be a lifeline for those who've missed the boat on their tax obligations.
Don't let tax be the bane of your freelance existence. Tune in to this episode of My Money My Lifestyle and equip yourself with the knowledge to navigate the tax tides with confidence. And remember, if you have questions or need clarification, Maya is just a Q&A podcast away.
Why do so many people feel that the financial system is rigged against the average person, that the system is built to benefit the elite at the expense of the average person?
In this podcast Maya has a frank discussion with David Buckham, founder and CEO of Monocle Solutions and author of The End of Money, The Age of Menace and Why Banks Fail, about the inherent flaws in the banking system and the reasons behind the erosion of trust across all areas of society – financial and political.
They unpack what is behind the narrative that South African banks have actively worked to weaken the South African currency; what or who is to blame for the rising global inequality and why we have more billionaires than ever, yet average people are struggling to pay their bills.
Money is not about rands and cents – it is an emotional currency, which is why money conversations are so hard. Money means many different things. It encompasses power dynamics in a relationship, it can symbolise success and status. For some people it reflects care and for others it represents safety. Money and gifts are one of the five love languages. When two people in a relationship have a very different emotional connection to money, those conversations can become loaded and challenging.
In this conversation that every woman should be having, Maya and Andrea have a candid discussion with relationship therapist Connie Valkin about how to have these emotionally charged conversations surrounding money
Why, if you can talk about everything except money, you may not be “financially married”. Why trying to find a 50/50 balance in a relationship is not the right approach, and what it may mean if we can’t talk about money.
If you are finding it hard to initiate money conversations within your household, consider listening to this podcast as a catalyst for opening the door to those necessary, yet uncomfortable, discussions. If you are on the brink of marriage, this discussion offers insights into those vital conversations you need to have now about establishing clear expectations and defining the parameters of your relationship from the start.
When her mother tragically passed away in car accident three years ago, the then 24-year-old Zihle found herself emotionally and financially responsible for her two younger sisters. To make ends meet Zihle turned to credit – what started off as “small loans” soon snowballed into larger and larger debts. The more the repayments ate into her disposable income, the more she relied on further credit to pay the bills.
Maya speaks to 2023 Money Makeover Challenge runner-up Zihle about her personal journey and how with the help of her financial adviser Anton Battiss she has been able to take control.
Not only has Zihle paid off debt, but she has seen a significant transformation in her own mindset – she now sees a future for herself. Zihle’s experience is testament to the impact finances can have on our mental health but also what can be achieved in a short space of time if we take the right steps. Zihle story will resonate with so many young people who find themselves responsible for their family’s financial well-being.
In this podcast Maya speaks to Johan the winner of the 2023 Absa/City Press Money Makeover Challenge about how he reduced his debt by over R85 000, built up an emergency fund of R42 000 and increased his retirement contributions – all in just six months.
Joined by his financial adviser Takalani Badugela, Johan discusses how small day-to-day choices over time created a significant debt burden and about his decision to enter debt review. Johan is an inspirational story of what is possible when you commit to a goal.
Each year six people are selected for a money bootcamp. Each candidate is paired with an Absa financial adviser and together they set the goals for the following six months. This is the seventh Money Makeover Challenge and this year the candidates exceeded their goals and expectations. This challenge is absolute proof that you can turn your financial situation around in just six months – but it requires commitment.
When you get married or have a child there are so many exciting things to focus on like the wedding dress, invitations, the honeymoon and baby showers. The last thing we want to think about are the financial aspects. Yet it is the finances that will have the most lasting impact on our relationships. This is especially true when it comes to writing up a will. After your marriage contract, this is the most important document to get drawn up.
In this conversation Maya and Andrea chat to fiduciary expert Moremadi Mabule about everything you need to know when writing up your will:
- How does your marriage regime affect your will?
- What happens when you die without a will?
- What makes a will valid?
- How to provide for your children in your will
- How should you update your estate planning if you get divorced?
- Should you both have life cover to provide for the maintenance?
This podcast is part of a series of conversations where Maya speaks to Andrea Carr about her experience of getting divorced which led Andrea to question many of the decisions she made as a woman, as a mother and as a wife, when it came to her finances. It made her realise the importance of taking care of herself, instead of only taking care of her family.
It is important to note that while the idea for this series came from Andrea’s personal experience of getting divorced, this is not just about women or divorce. These conversations are relevant to anyone in a relationship especially when there are children involved and the additional workload of caregiving. We want to understand how to navigate this space so that it feels fair – from a financial, physical and emotional perspective.
This is the third podcast in a four-part series in partnership with NinetyOne. Take a listen to the other episodes in this series, and look out for the last episode in which we will be speaking to a relationship therapist.
“Money conversations are hard. They are harder than talking about sex or the in-laws. How much money one earns versus how much a partner earns is linked somehow to our perceived value. The person who makes more money has more power unless there is a conscious approach in the relationship. The person who has more money has potential to dominate the conversation and control the flow of the money. Money can also be used to shame - blaming a partner for not earning enough or keeping the family in a standard of living. Money is a powerful tool in a relationship, and we need to be very aware of it”.
In this conversation, that every woman should be having, Maya and Andrea Carr share their money stories with financial planner Sunel Veldtman founder of Foundation Family Wealth.
How does your upbringing affect your relationship with money and the financial conversations you have with your partner? How do you agree on a household budget – setting shared goals and making sure both partners’ wants and needs are met?
They discuss mistakes women make when it comes to the financial responsibilities they take on. Why women may find that they are taking on credit card debt to keep up with the family expenses or skimp on their retirement and future needs to provide for the children.
It is important to note that while the idea for this series came from Andrea’s personal experience of getting divorced, this is not just about women or divorce. These conversations are relevant to anyone in a relationship especially when there are children involved and the additional workload of caregiving. We want to understand how to navigate this space so that it feels fair – from a financial, physical and emotional perspective.
This series is in partnership with Ninety One
Why two attorneys need to be part of your wedding plan.
In this series of conversations, Maya speaks to Andrea Carr about her experience of getting divorced which has led Andrea to question many of the decisions she made as a woman, as a mother, and as wife, when it came to her finances.
It made her realise the importance of taking care of herself, and not only her family. Andrea’s experience is true even if you are in a relationship for life – at some point statistically, as a woman, you will be on your own.
In this episode we speak to Beverley Clark, a leading attorney and specialist in family law about marriage contracts and finding financial equity in marriage, especially when one parent takes on the responsibility of raising children.
"Conversations every woman should have" is a four-episode podcast series. Look out for the rest of this series of podcasts, in which we will be speaking to a financial planner, a fiduciary expert, and a relationship therapist.
It is that time of year when our medical schemes inform us how much more we will be paying for our medical cover. With medical costs rising above inflation, the amount we spend on medical services takes a growing bite out of our budgets.
It is important that we spend time understanding our medical plan to make the most of it.
In this podcast I chat to Jillian Larkan, head of healthcare consulting at financial advisor firm GTC to unpack the mysteries of medical cover:
- Why have my premiums increased above inflation?
- How do I make the most out of my scheme?
- What to consider when selecting a plan.
- How gap cover works, and when you need it.
- What are my options if I cannot afford a medical scheme?
- Health insurance vs medical schemes.
On 1 March 2024 there will be a radical change affecting everyone who is a member of a retirement fund.
This is known as the Two-Pot Retirement System and applies to any member of an employer pension/provident fund, a retirement annuity or a preservation fund as well as members of the Government Employees Pension Fund.
There have been many questions and complaints about how the new system will work, especially when it comes to withdrawals.
In this podcast Maya speaks to Mr. Basil Maseko a Director of Tax and Financial Sector Policy at National Treasury about the thinking behind the introduction of the new system and why they capped the initial withdrawal at R25 000.
Many South Africans are finding themselves supporting their aging parents, thanks to the combination of a tough economy and insufficient retirement funding. But it’s critical to plan this key transition carefully to ensure your own finances stay on track and to maintain a healthy relationship with your parents.
In this podcast Maya speaks to Stian De Witt, Executive Head of Financial Planning at NMG Benefits about how to have these conversations and financial implications to consider.
September is wills month and in this podcast we discuss how to use a will to protect your child’s legacy.
Maya speaks to Alex Simeonides CEO of Capital Legacy to help parents navigate the complexity of estate planning.
This podcast was sponsored by Capital Legacy
An important aspect of financial wellness is mental wellness. Financial stress can cause emotional stress, it impacts our relationships and our workplace. When it comes to managing money, we need to be aware of our money emotions - what makes us spend, why does money make us so anxious?
While financial pressure can impact our mental wellbeing, our mental wellbeing could be causing our financial challenges. For example, if you are feeling stressed you overeat, you are more likely to make impulsive purchases to make yourself feel better, and maybe start slipping behind on bills…. How do you identify the triggers?
As part of this year’s Money Makeover Challenge Maya shares a discussion she had with Dr Lesego Rametsi, group head of health and wellness at Absa, about the relationship between financial stress and mental health
As banks improve security around identification and biometrics are introduced, fraudsters are finding that the easiest way to get into your bank account is to get you to help them! In this podcast Maya shares the story of how her husband nearly fell victim to a vishing attack.
“I often write about these scams and we are all aware of them. We think it will never happen to us because we are savvy, we are aware – but these scamsters are so good and they know how to push the emotional buttons”.
Maya speaks to Capitec experts Jean Rossouw, Head of Financial Education and Nick Harris, Head of Financial Crime at Capitec to explain how these scams work, how to identify a scam before it is too late - and then what to do if you are victim.
If you are about to retirement you need to start thinking about how to invest your lump sum to provide you with an income for life. According to an article by the Actuarial Society of SA, there is a window of opportunity for retirees to lock in some of the highest rates in 20 years. With inflation peaking and the cost of living rising, this is an opportunity not to be missed. In this podcast Maya speaks to Deane Moore, CEO of the Just Group about how to use a guaranteed annuity to boost your income, even if you are already in retirement.
The 2023 City Press/Absa Money Makeover Challenge has begun. This is the seventh year where Maya Fisher-French together with a team of Absa financial advisers work with six individuals to turn around their finances in just six months.
In this podcast Maya chats to Sarah Nkwana of Absa about the candidates, why they were selected and the challenges they face.
Everyone following the Makeover Challenge will find someone they can identify with. You can follow their journey at https://media24.shorthandstories.com/moneymakeover/index.html or on Facebook at https://www.facebook.com/CPMoneyMakeover/
Welcome to the finale of the Emotions and Money podcast series, where we explain concept of the Money Fingerprint.
Join host Maya Fisher-French and Paul Nixon, head of Behavioral Finance at Momentum, as they take you on a journey of self-discovery and financial empowerment.
The Money Fingerprint isn't just another run-of-the-mill personality test. It's a diagnostic tool, created in collaboration with Pretoria University, that weaves together the core themes explored throughout this podcast series. This includes your risk attitudes, money attitudes, and personality traits, all tailored to provide you with a personalized guide to your unique money personality.
Are you an extraverted spender who struggles with saving? Or perhaps you're an introverted saver who yearns to embrace the joy of life more fully?
Gain insights into your relationship with money and practical techniques to guide you in the right direction. Whether it's boosting your savings or embracing a balanced approach to spending, we've got you covered.
Don't miss this final chapter of the Emotions and Money podcast. Tune in now and let your Money Fingerprint lead the way to a brighter, more fulfilling financial future!
Are you aware that our ability to accurately assess risk is flawed? Think about those posters that surround the shark tanks at aquariums that compare the statistics of shark-related fatalities with seemingly innocuous household items like toasters or even the act of simply falling off a chair. Surprisingly, the numbers reveal that toasters and chairs pose a greater threat to our safety than sharks. Yet, why does the mere thought of a shark strike terror in our hearts, while a toaster fails to evoke the same dread—unless you suffer from Oikophobia, the irrational fear of household appliances?
In this podcast we delve into the depths of risk perception. Maya Fisher-French chats to Paul Nixon, head of Behavioral Finance at Momentum, to explore the diverse facets of risk within the realm of investing. Together, they'll shed light on the crucial factors that outweigh our subjective feelings about risk, such as how much risk you can truly afford to take and how much risk is necessary to achieve your goals.
Gain valuable insights into the different types of risk and learn to make informed decisions that align with your financial objectives. By understanding the complexities of risk, you'll gain a significant advantage in the investing landscape.
Don't miss out on this podcast episode, where we demystify risk and empower you to become a more astute investor.
Did you know that shedding tears isn't just an emotional release, but also a fascinating biological phenomenon? Emotional tears actually flush out cortisol, the stress hormone, while containing traces of oxytocin, the powerful trust and bonding hormone.
Join us on the captivating Emotions and Money podcast as we delve into the connection between our emotions and financial decisions. Tune in as renowned host Maya Fisher-French and guest Paul Nixon, the brilliant mind behind Behavioral Finance at Momentum, unravel the astonishing impact of our biological responses on our investments.
Discover how your panic triggers a chain reaction in your body which temporarily shuts down access to higher-order thinking in the prefrontal cortex, compelling us to act on instinct instead of reason. But fear not! We've got you covered with invaluable insights and practical tips to help you avoid costly mistakes when panic strikes.
Unlock the secrets of your emotional and financial well-being by joining us on the Emotions and Money podcast. Get ready to embark on an eye-opening journey that will revolutionize your understanding of emotions, investing, and personal success. Don't miss out—hit that play button now and seize control of your financial future!"
On 24 April 2023, seemingly out of the blue, SARS updated its "Manage Your Compliance Status” webpage and announced a “new enhanced” TCS application form. This meant that a South African who was wishing to invest more than R1 million offshore would have to follow the same financial audit process as a person applying for a tax non-resident status. In this podcast Maya speaks to Thomas Lobbin, head of Cross-Border Taxation at Tax Consulting South Africa to understand what this means for investors and why SARS has taken this approach.
Emotions and Money is a six-part podcast series where we unpack the psychology behind our investment decisions and how our emotions could be sabotaging our financial outcomes.
What makes a good investor? In discussion with Maya Fisher-French, Paul Nixon, head of behavioural finance at Momentum Investments identifies the key behaviours that lead to successful financial outcomes and the impact Covid has had on how we invest.
Emotions and Money is a six-part podcast series where we unpack the psychology behind our investment decisions and how our emotions could be sabotaging our financial outcomes.
In this episode Maya Fisher-French and Paul Nixon, head of behavioural finance at Momentum Investments discuss the different personality types and how your personality could be affecting the way you manage your money.
Emotions and Money is a six-part podcast series where we unpack the psychology behind our investment decisions and how our emotions could be sabotaging our financial outcomes.
In this episode Maya Fisher-French and Paul Nixon, head of behavioural finance at Momentum Investments look at the true cost of our poor investment decision.
In 2020 South Africans paid 6.5% in behaviour tax and around 3.5% in 2021. What is behaviour tax and what it is about our money emotions that leads us to make decisions that hurt our finances?
Emotions and Money is a six-part podcast series in partnership with Momentum Investments.
In this podcast discussion Maya and Moroka Modiba, author of Think yourself Rich, discuss how a newly married couple should start managing their finances together. Why a household budget is important along with a discussion around shared goals. Moroka unpacks at the various investments that the couple should consider based on their investment horizon.
There have been mixed reactions to Minister of Finance, Enoch Godongwana’s annual Budget Speech this week. The general feeling is that while the financial manoeuvrings by National Treasury are commendable, there appears very little faith in government’s ability to execute what needs to be done to bring the country back on track.
In this podcast Maya and Thomas Lobbanfrom Tax Consulting South Africa unpack the budget. What does it mean for South Africa’s debt levels and what does it mean for our taxes?
Since March 2001, all South Africans have been legally required to declare and pay tax on their annual worldwide income, irrespective of where they live. So even if you have been living abroad for a few years, you are still considered a resident for tax purposes, unless you can objectively prove to SARS your intention to remain outside the country permanently.
With the introduction of a formal SARS Non-Resident Tax Status Confirmation Letter in 2021, South African expatriates can now confirm their tax status. However, getting one of these is neither automatic nor easy, requiring applicants to follow stringent residency cessation and verification processes to qualify as non-residents for tax purposes.
In this podcast Maya chats to expat tax attorney Martin Bezuidenhout about what you need to know to qualify for the letter and understanding the tax implications of ceasing tax residency.
What is the best blend of investment products that will provide you with a sustainable, tax-efficient income in retirement?
While there is no question that the pre-retirement tax benefit from investing in a retirement annuity is significant, to what extent is an RA tax efficient over the full course of your financial plan which includes the 20-odd years you will be drawing a retirement income? In this podcast Maya speaks to financial planner Wynand Gouws, author of To 100 and Beyond, about the most tax efficient portfolio for retirement.
“I needed to be braver” is how 2022 Money Makeover runner-up Zinzy described her financial situation when she entered the money bootcamp six months ago. In this open and frank conversation, Zinzy talks about the courage it took to have difficult discussions with people who owed her money and taking her head out the sand to tackle conversations with creditors including SARS. “I was an ignorer of note,” admits Zinzy. In this podcast discussion Maya is joined by both Zinzy and Absa financial adviser Phumzile Dube, who Zinzy refers to as her “financial therapist”. Zinzy’s journey is one many South Africans will relate to and a lot can be learnt from her journey and her lessons.
It is possible to turn your finances around in just six months. The Money Makeover Challenge has proven this over and again. The stories from the candidates who enter are testament to the fact that financial freedom is not about miracles, it is about having a plan, a partner and discipline. In this podcast Maya speaks to the 2022 Money Makeover winner, township entrepreneur Mpho along with his biggest cheerleader, Absa financial adviser Gladnes Masia about how, in just six months, he turned his take away food business from a drain on his finances to making a profit.
Medical scheme membership is expensive and it becomes more expensive every year. The average family pays R6000 or more a month for their medical scheme benefits, yet Andre Jacobs author of “Medical Schemes Explained: Your Ultimate Guide to Using Your Medical Scheme Efficiently” https://www.medicalschemesexplained.co.za/ argues that many are paying too much, simply because they do not understand the way their scheme works. In this podcast Maya and Andre discuss the importance of understanding your medical scheme and what to do if your scheme will not cover expenses.
Earning your first pay cheque and balancing the many financial demands is challenging for any graduate. For those who are the first in their family to become a professional, there are even greater expectations and financial demands. In this podcast Maya speaks to Akhona Modi, a Financial Planner at BDO, about both the practical and emotional aspects of meeting the expectations of family.
“Many people see the stock market as an exclusive club or that only professionals understand it well enough to succeed, but really investing is more accessible than ever,” says Moroko Modiba, managing director of Fatima Capital and author of “The Wise Investor: The Beginners Guide to making money on the stock market”.
In this podcast Maya and Moroko discuss investment strategies for those starting out. They discuss how to create a core portfolio and how to use this as a building block to investing in individual stocks.
The only thing certain in life is death and taxes and this is particularly true when it comes to our wills. While we can never cheat death, by drawing up a will and doing some basic estate planning we can reduce, and provide for, the fees and taxes, leaving more of our assets as a family legacy.
In this podcast Maya speaks to wills and estate specialist Alex Simeonides, CEO of Capital Legacy about the do’s and don’ts when it comes to writing up a will.
- Why are we so afraid to sign a will?
- How can a parent use a will to protect their children’s inheritance?
- Why you should not make your minor child a beneficiary of your life policy
- How to provide for the costs of winding up your estate
- What makes a will valid?
COVID-19 is here to stay. So how do we best protect ourselves over the long term?
Discovery Life Deputy Chief Executive, Gareth Friedlander, and Chief Medical Officer, Dr Maritha van der Walt, break down the data around the risk factors when it comes to covid-19 - how we can improve our health and protect against unknown diseases. We also unpack the risks of long-covid, how to plan your recovery and how long-covid is assessed as a potential severe illness claim.
Every life is unique, and life can be unpredictable. While some of life’s events may be unpredictable, there are ways to both mitigate and protect us from today’s risks. In this podcast series, Life behind the numbers, Maya talks to Discovery Life experts about the kinds of risks we’re all up against – in facts and figures – and how to protect against those risks.
This is a four part series on life cover in partnership with Discovery Life
Cancer can affect anyone, at any age. Across the insurance industry we see cancer as an increasing cause for claims, especially among younger people. Tune in as Discovery Life’s Head of Market Analytics and R&D, Kashmeera Kanji, and Chief Medical Officer, Dr Maritha van der Walt, delve into the statistics and why early detection is your greatest defence against this disease.
Every life is unique and deserves customised protection from today’s risks. In this podcast series, Life behind the numbers, Maya talks to Discovery Life experts about the kinds of risks we’re all up against – in facts and figures – and the importance of risk protection.
This is a four part series on life cover in partnership with Discovery Life
In this podcast we unpack the strange relationship we as South Africans have with our currency. Why does the value of the rand affect our perception of our country? A strong rand gives us an emotion boost in the same way as our winning sports teams do – and when the rand is weak, we see it as a sign of failure. Is this normal and do people in other countries feel the same way about their currency?
In this podcast Maya chats to Michael Kruger, Senior Investment Analyst at Morningstar about the value of the rand, both emotionally and physically. They also unpack the drivers behind the value of the rand – the answers may surprise you.
Every life is unique, and life can be unpredictable. While some of life’s events may be unpredictable, there are ways to both mitigate and protect us from today’s risks. In this podcast series, Life behind the numbers, Maya talks to Discovery Life experts about the kinds of risks we’re all up against – in facts and figures – and how to protect against those risks.
In this episode, Maya is joined by Discovery Life Deputy Chief Executive, Gareth Friedlander and Head of Market Analytics and R&D, Kashmeera Kanji. Together, they unpack the importance and value of having a risk protection product that enables parents to cover the costs of their children’s education. They discuss how do you can use life cover not only to provide for the unexpected, but also to save towards your child’s education.
Every life is unique, and life can be unpredictable. While some of life’s events may be unpredictable, there are ways to both mitigate and protect us from today’s risks. In this podcast series, Life behind the numbers, Maya talks to Discovery Life experts about the kinds of risks we’re all up against – in facts and figures – and how to protect against those risks.
National Treasury released draft legislation around early access to pension funds and the so-called Two Pot system. In this podcast Maya speaks to retirement reform expert Rowan Burger about how the Two Pot system will work. In this podcast they dispel some myths around early access and explain how vested rights will affect your existing retirement assets.
In a recent survey, a debt counselling firm asked financially stressed South Africans “why have you not done something to alleviate your money-stress?”. Nearly 40% of people responded that they “feel stuck”.
When faced with what appears to be an overwhelming problem we tend to shut down, sticking our head in the sand. But this obviously doesn’t solve the problem. What we know is that getting ourselves out of debt does require discipline and action, but what most people don’t realise is how quickly your circumstances change when you do take action.
In this podcast Maya speaks to Ntombi Dube, a remarkable woman who paid off R700 000 of debt. If you are feeling stuck and need some inspiration, listen to her story. You can also find out more about the The Money Mentors programme here https://www.themoneymentors.co.za/
It is tax filing season and while people look forward to tax season because they can get a rebate, for many of us it can feel a bit overwhelming.
In this podcast Maya speaks to tax expert Reinert van Rensburg, Tax Legal Specialist at Leap Group, about everything you need to know about your 2022 Tax return. He discusses key changes to auto-assessments and why people who have been selected for auto-assessment have a much shorter deadline. He also explains why everyone should file a tax return and what makes an individual a provisional taxpayer. He also addresses the taxation of SA residents earning an income abroad.
Scientists are telling us that soon we will reach an average life expectancy of 100 years old. For some people that may be very exciting, but for others it is simply terrifying. How will we save enough money in 40 years of working to fund 35 years of retirement? In this podcast Maya speaks to financial planner Wynand Gouws about his book “To 100 & Beyond – how to make your money last as long as you do”.
Wynand explains why asking “when should I retire?” is the wrong question, how you can plan your retirement to be more tax efficient and unpacks the curious phenomenon that the older you are, the longer you are expected to live.
In this podcast Maya speaks to Louis van der Merwe about the biggest transition – death. Whether it is the death of a loved one or contemplating our own mortality, death is a part of life. Maya and Louis discuss how to manage both the fears and practical side of mortality. How to have these conversations with family, how to manage an unexpected death of a loved one or steps to take when you or a loved one is diagnosed with a terminal illness. The conversation covers various aspects from dealing with the estate to what happens to your social media accounts.
The covid pandemic saw many people reflect on their lives. Not only did we stand still for a moment to take stock, but it opened new possibilities, especially with remote working. As result some people made major lifestyle changes. In the second part of a series of conversations around life transitions, Maya (@mayaonmoney) speaks to financial planner Louis van der Merwe of WealthUp on how to approach significant changes to your lifestyle. Even when it’s a choice, transitions can be traumatic. It is important to be prepared and to understand the emotional process you will be undergoing. Is this really what you want, or is it a short-term reaction to current circumstances? How do you manage your finances in this transition? Is your partner and your family on board? All choices and decisions have pros and cons.
As part of a series of conversations around life transitions, Maya speaks to financial planner Louis van der Merwe of WealthUp about how adult children can support their ageing parents. Whether you are the adult child of an elderly parent, or even if you are getting older and starting to think about your future, we need to plan for the reality that as we get older, we become less able. Decisions need to be made about how we want to live this part of our lives. Louis discusses how to have the difficult conversations, how to ensure the person you are supporting retains their sense of agency and independence, as well as the more practical issues around money management and protecting yourself or loved one from financial abuse.
Good financial advice is worth paying for. But do we know how much it is really costing and how do we know we are getting good advice? For years advice was wrapped up into sales commission creating the impression of “free advice” along with a general distrust in the process. The industry is changing with the separation of sales and advice fees.
In this podcast Maya speaks to Rory Brachner founder of DoshGuide.co and financial planner Marc Sydow about a further evolution where financial planners no longer charge for assets under management, but are paid for work actually done.
DoshGuide a platform that connects investors with fee based financial planners.
It is a whole new world and with the flexibility around the working environment, many people are looking at either moving or upgrading their spaces. How do you decide on the right property for your family? If you want to expand your space, how do you finance a renovation and what about the danger of over-capitalization? If you are renovating to sell, what should you be spending your money on?
In this podcast Maya speaks to Andrea Tucker, director home loan originator MortgageMe about the pros and cons of building, renovating or buying.
Stokvels are a truly African solution helping people manage their cashflow and achieve their goals, but are we doing enough to harness the power of group savings? Could stokvels be used to build wealth, fund children’s education and even leave an asset to provide intergenerational wealth?
In this podcast Maya speaks to Busi Skenjana about how stokvels can leverage their true power.
Skenjana has been running BSK Marketing for 25 years, focusing on stokvels throughout South Africa. She is also founder of the Stokvel Academy an education platform for the stokvel community.
Maya speaks to financial planner Terence Tobin of Rich Ideas about ways to cut your tax bill whilst growing your investments. They unpack the pros and cons of retirement annuities, how to use a Tax-Free Savings Account for tax planning in retirement and what products to stay clear of.
Globally stock markets have been on a roller coaster ride, and those who thought crypto assets would offer a safer alternative, well they have been along for the same ride. There are many factors driving this volatility and these are going to be the main themes for 2022. To discuss what you should be doing with your investments, Maya is joined by Kunal Sawhney CEO of independent equity research firm Kalkine.
“It is not only a crowd funding platform, but a crowd value creation platform - an eco-system of partners rather than a conglomerate owning everything”
Farming is becoming an increasingly popular asset class. Crowd-funding for farming ticks many boxes as a “good” investment - providing market related returns, increasing food security, allowing for skills transfer and improving farming methods for better environmental outcomes.
In previous podcasts Maya has spoken about cattle farming and in this interview, she speaks to Grant Field, CEO of Fedgroup about investing in bees, blueberries, macadamia nut trees and even lettuce.
Are you the victim of financial abuse or are you perhaps unwittingly the abuser? And how would you even know?
In this podcast we discuss a very sensitive topic - financial abuse and how money is often used to control people in relationships. In this podcast Maya speaks to financial planner and founder of Foundation Family Wealth Sunel Veldtman who writes that “the definition of financial abuse includes controlling how all the money is spent, not allowing the victim access to bank accounts, withholding money, giving an ‘allowance’, or not including the victim in banking or investment decisions”. Sunel says that while the term abuse sounds harsh, money in these relationships is typically used to control a partner, to the extent that it is detrimental to them; it is not used to convey love.
Despite the recent rate hike, interest rates since the beginning of the pandemic have fallen by around 30%. This is great news if you are borrowing money, but it is pretty dire for anyone investing in cash or relying on income from cash investments. In this podcast Maya speaks to Mabule Setwaba Corporate Cash Manager at Investec Bank Limited about whether cash is now trash, or if it still has a place in your portfolio. Where to put your cash for the best return, especially in a rising interest rate environment
In this podcast Maya speaks to Mantsha Pheeha, a business strategist at Talent Unleashed on how to bootstrap your start-up by creating a pilot project. Mantsha worked with Nocawe, this year’s Absa City Press Money Makeover Challenge to start a poultry business with just R6500. You can find out more about Mantsha at https://www.mantsha.com/
Generational wealth is passed down from one generation to the next. But ultimately it has different context for different people. Generational wealth doesn’t have to be the Oppenheimer’s legacy, it could be leaving your children enough money to buy a home, or the access to an education that you didn’t have. In this podcast Maya speaks to Carol Mazaka, Consumer Director at 1Life about the findings of their Generational Wealth survey and the different ways we can leave a legacy
In this podcast Maya speaks to Warren Ingram, financial planner at Galileo Capital https://galileocapital.co.za/ about his new book Global Investing Made Easy.
Warren shares his insights into the investment decisions we make, and those we should be making.
Maya chats to Gugu Sidaki, financial planner about ways to skill our children so they can better manage money as adults
Gugu is author of My 3 Piggies a series of books for kids all about money. https://www.my3piggies.com/
Mapalo Makhu of the Woman & Finance blog rejoins Maya on the My Money, My Lifestyle podcast after taking a break to have her second child.
She shares her experiences of having a child while having to meet client deadlines, and emphasises the importance of having a plan in place – especially when it comes to unexpected life events.
When it comes to understanding the risks in a society, insurers generally offer the best insights. Insurance companies do not pay out for deaths that did not happen and they will apply a risk rating on behaviours or health status, that they believe would lead to higher illness or mortality rate. In this podcast Maya speaks to Discovery Life’s Deputy Chief Executive, Gareth Friedlander about what the statistics are revealing around the effectiveness of the vaccine.
In this podcast Maya chats to money blogger Brett @ETFenthusiast on how blogging keeps him on track financially, his plans in working towards financial freedom and which investments he is using to provide a passive income in the future.
https://www.etfenthusiast.co.za/
Tax filing season opened on 1 July 2021. That means non-provisional taxpayers have until 23 November to file their returns. Some people look forward to tax season because they can get a rebate, but for many of us it can feel a bit overwhelming. A particular hot topic this year is what home office expenses will be allowed as deductions. In this podcast Maya is joined by Donaldson Madungwe of Tax Consulting South Africa.
Age comes to all of us and one of the big decisions we have to make, for ourselves or our parents, is whether to downsize and move into a retirement village. This is not an easy decision and can be further complicated with the different types of retirement villages and financial models. This week Maya speaks to Barry Kaganson, CEO of Auria Senior Living
We know from studying history that entire generations can share a similar money attitude or behaviour due to a major financial event that their generation experienced. What effect, if any, will the Covid pandemic have on this generation? In this podcast, Maya speaks to financial wellness coach Frank Magwegwe, a lecturer at the Gordon Institute of Business Science, about the lasting legacy of the pandemic on our financial behaviour. They also discuss how people can implement new, healthier habits when it comes to managing their money.
https://frankmagwegwe.com/
In this interview with financial planner Kim Potgieter, Maya discusses her new book Midlife Money Makeover. How our relationship with money and those money stories we grew up with either help or sabotage our finances. If you think it is time to review your relationship with money – listen on.
You can purchase a copy of Kim’s book either online https://kimpotgieter.com/kims-books/ or at any good bookstore
“So many of us are bonded to our idea of wealth even though it isn’t working for us or the planet — because of the very nature of our relationship with money. We expect money to fulfil our fantasies, calm our fears, ease our pain and send us soaring to fleeting heights of gratification. In fact, we are programmed to think most of our wants and desires are met by money. We buy everything from hope to happiness. We no longer live life, we consume it” says John Sanei, Futures Strategist and bestselling author. In this podcast Maya speaks to John about why we need to reset the way we think about money.
You can check out more of John’s views at https://www.youtube.com/c/JohnSaneiInc
If you want to understand bitcoin, blockchain and the related crypto asset world listen as Chris Becker, Blockchain technologies specialist at Investec Private Bank unpacks the world of blockchain technologies and why we are just on the start of a fundamental new way in dealing not only with the way we transact with money, but all transactions – from buying property to selling artwork.
To read more from Chris Becker @chrislbecker go to https://www.investec.com/en_za/focus/chris-becker.html
Tax is one of the most important money matters, especially when you work for yourself or have a side hustle that earns you some extra cash. Navigating the tax maze when you don’t just have an IRP5 from an employer can be quite challenging. In this podcast Maya speaks to Andre Bothma about how to optimize your tax deductions as a freelancer and how to manage the books when getting extra income from a side hustle. YouTube: AndreBothmaTax - www.youtube.com/andrebothmatax
In this My Money, My Lifestyle podcast we delve into the world of crypto scams which seem to be mushrooming everywhere despite repeated warnings from our authorities. How do these scams work? How do people get lured into parting with their hard-earned cash? And is this the work of an organized criminal syndicate? We talk to scam victim Tshepiso about how the fraudsters convinced her to part with nearly R100 000. Jean le Roux, research associate for the Atlantic Council’s Digital Forensic Research Lab explains how social media networks are used to lure potential victims and Marius Reitz, Luno’s GM for Africa explains what victims can do if they are caught in a scam. The aim of this podcast is to give you a real insight into how these scams work so you are not fooled by them, you don’t believe the fake testimonies and pictures you see on social media and please share this podcast with those who you believe are vulnerable. The only way we are going to stop them is to stop giving them our money.
How do you teach your children to manage money? It starts at home says 13-year old Alidzulwi Tshikosi, author of “Not being authentic can be costly” - a warning tale of a young man who uses credit to live beyond his means and which ultimately destroys his relationships. In this podcast Maya speaks to Alidzulwi and her father Ramarumo about how to have those money conversations with your children. They also discuss home schooling and how he and his wife are raising their daughters to develop skills and a value system to help them grow into independent young people. This podcast will inspire many parents, and hopefully encourage us to break the taboo around talking about money.
How to choose the right exchange traded funds or unit trusts and one for your needs. In this podcast @Satrix_SA Chief Investment Officer, Kingsley Williams joins Maya Fisher-French to provide some guidelines around selecting the right fund but also to give us some perspective on the investment landscape for 2021. How do we navigate the short-term roller-coaster to achieve long-term stability?
For many people COVID has had a major financial impact and some may be considering entering debt review. In this podcast Maya speaks to David O’Brien of debt counselling firm Meerkat to explain how debt counselling works and how to choose a good debt counselor – because there are a lot of bad apples out there. We also discuss what to do if you are already in debt review and want to get out.
In this podcast Maya speaks to labour lawyer Michael Bagraims about your rights when it comes to voluntary retrenchment. The benefits you receive and what rights you give up. If you are being offered voluntary retrenchment, listen to this first.
How does a balloon payment work? What questions should I ask my dealer? Can I settle my car finance early and what happens if I want to give my car back? Maya chats to vehicle financing expert Henry Botha of Absa Vehicle and Asset finance to answer all car finance related questions.
In this podcast Maya is joined by personal finance blogger Brendan of @Your_Money_Blog where they discuss their approach to Black Friday and tips on online safety when shopping for deals
Offshore investing is not just for millionaires, it should form part of everyone’s investment portfolio. In this podcast Maya and Mapalo unpack the many low cost, low minimum options that make offshore investing accessible for the ordinary South African.
If you are confused about how advance payments to your home loan and car finance works, you are not alone. In this podcast Maya and Mapalo unpack exactly how access bonds work and when advance payments on your car can be used to settle the balloon payment.
Maya and Mapalo speak to independent financial adviser Markus Bauriedl on what to look out for when selecting life insurance to make sure it pays out as promised. Not all cover is equal, and some products work better for some than others. Markus shares his own experience of navigating the claims experience when he faced his own medical crisis.
Is there such a thing as good credit? What forms of credit should you avoid at all cost? In this podcast Maya and Mapalo discuss the good and dark side of credit and whether the concept of lay-by’s will come back into fashion as technology changes.
Whether you are saving for your child’s education or investing for their future, Maya and Mapalo discuss where and when to invest. When is a tax-free investment appropriate? Should you invest in your child’s name and where do you save for those school fees? All these questions are answered in this week’s podcast.
“As much as we like to believe it is all about hard-nosed number crunching, the stories investors tell themselves and others are key”. What are the stories we are currently telling ourselves about the economy and markets that we may need to revise? In this podcast Maya and Mapalo speak to Izak Odendaal Investment Strategist at Old Mutual Wealth About the danger of getting caught in a negative mindset and why we shouldn’t ignore some of the investment opportunities available at really great prices.
Is money really gender-neutral? Maya and Mapalo discuss why women face more financial challenges and how important it is for women to take control of their financial destiny.
In the final episode of our Money Makeover Challenge Maya and Mapalo chat to the two winners Catherien and Nono about their journey and how they turned their finances around in just six months. In just six months these women paid off debt, created savings and have got their entire family on board. If they could achieve all this in the midst of the financial uncertainty of COVID – imagine what you can achieve. Listen to this podcast to get inspired to start your own journey to financial freedom. Watch the Money Makeover finale held on 18 July - https://youtu.be/4IQ6A6a5hZc
In previous podcasts we have discussed the concept of Net Worth and how to use it to assess your financial progress https://mayaonmoney.co.za/2020/01/listen-2020-grow-your-net-worth/, https://mayaonmoney.co.za/2019/11/listen-do-you-know-your-net-worth/
In this podcast Maya and Mapalo discuss other Personal Financial Ratios to help you evaluate your current financial strength and position. Doing these calculations at least once a year can give you a benchmark to help you work towards better financial health.
In this podcast Maya and Mapalo each discuss an event in their week that made them reflect on the way we engage with money: A negative experience with the way financial products are sold questions whether people can make the right decisions when their advisers have different motivations. And then reflecting on finding that balance between planning for the future but also living and connecting today.
In this, our fifth Money Makeover podcast, we chat to Elton Govender, senior enterprise development specialist at Absa, to provide some tips to those of us who are self-employed or running our own businesses. Elton shares the guidance and tools he developed to help our entrepreneur contestant Bellah turn her business around. When Bellah joined the Money Makeover Challenge, her business was sitting with a significant overdraft and her personal finances were relying heavily on debt, she also had no idea whether or not she was making a profit.
Payment holidays are a lot like real holidays – they end up costing more than you realise. In this podcast Maya and Mapalo look at the costs of debt holidays and how to get back on track after taking
Have you ever thought about how much you will earn over the next 5 years? If you have just started working and taking home R15 000 a month, over the next five years you will earn nearly R1 million – without any promotions or salary increases. What will you have to show for it? In this podcast Maya and Mapalo discuss what they did with their first pay cheques, what they wish they had done as well as some do’s and don’ts.
Have you fallen into property investing by accident? Whether you are an existing property investor looking to consolidate or planning on buying your first property, in this podcast @mayaonmoney chats to Miguel Martins of Absa Home Loans, a property investor himself, on the do’s and don’ts of property investing
In line with our theme on alternative asset classes, this week’s podcast Maya and Mapalo discuss investing in gold. Is gold a good investment? What role should it play in your portfolio and how do you go about investing in gold- because there are many different ways to gain exposure to this precious metal. The podcast has three parts – from traditional gold investments through to new-age ones. We discuss investing in gold coins with Glenn Schoeman of the South African Association Numismatic Dealers; investing in gold through the stock market with Craig Pheiffer of Absa Stockbrokers and finally gaining exposure to the precious metal through tokenized gold with Sean Sanders of Revix.
Increasingly investors are looking to non-financial assets to provide further diversification. In this podcast we have previously discussed Fedgroup Impact Farming where investors can buy into farming of beehives, blueberries and even solar energy. We have also written about investing in cattle through Livestock Wealth. Cattle is especially relevant to the African market where it represents a tangible value and underpins financial agreements like lobola. This week we chat to Kagiso Tloubatla, co-founder of SV Capital to provide South African investors an opportunity to invest in cattle with low minimums, starting at R500 a month.
With the economic fallout expected from COVID-19 investors have either seen their portfolios seriously hurt or are too afraid to enter the equity market now. Sitting in cash is an option, but what if markets recover and investors lose out on potentially higher returns? Maya and Mapalo discuss how structured products can provide a guarantee with market upside. In the second part of the podcast they look at the best way to use your tax-free investment allowance.
Most parents make supreme sacrifices to provide for their children and research shows that mothers in particular will put their children’s needs before their own. We want to offer our children the perfect world where they want for nothing, where they never feel shunned or feel they are not “good” enough. But is this the best way to teach them about money? Maya and Mapalo discuss their experiences in trying to raise financially savvy kids, what worked, what didn’t and some tips to start having those conversations.
It doesn’t matter how motivated you are to improve your finances, you will struggle to make progress unless your partner is on board. In our third Money makeover podcast Maya and Mapalo talk Marriage and Money and share the story of Catherien’s Money Makeover journey with her husband Jan.
With the unexpected 100bps cut in interest rates we received many questions about how interest rates work and the impact it has on both borrowers and savers. Maya and Mapalo unpack how interest rates work and do some jargon busting
Whilst you are sitting in lock down, now may be the time to turn that WhatsApp group into an investment club. Maya and Mapalo chat to Palesa Lengolo financial educator and author of Stokvels: How they can make your money work for you, onthe various investment product and opportunities available to stokvels. She also provides tips on what to do, or not do, when setting up your own investment stokvel.
Over the last few weeks our discussions have focused on keeping our heads above water during the coronavirus meltdown. We now turn our attention to investing - with markets down significantly is this the time to start testing the waters? In this podcast Craig Pheiffer, chief investment strategist at Absa Stockbrokers joins Maya and Mapalo to provide investment guidelines and maybe even some share tips. We also hear from Terry Msomi, director of Retail Bonds at National Treasury on why RSA Retail Bonds offer such an attractive interest for retail investors.
The topic for this City Press/ABSA Money Makeover podcast could not be more relevant given the financial stress so many households are feeling with the COVID-19 crisis. Falling into a debt trap is often due to a change in personal circumstances rather than living a flashy lifestyle. But it is how you respond to the crisis that will determine how quickly you can recover. Maya and Mapalo chat to Money Makeover contestant Peter and his wife Helen about how they found themselves sliding slowly into a debt trap as they used their credit card to get by. They also chat to Absa financial adviser Leighanne Decker about the advice she has given the couple and the options available to them to settle their debt. In the second part of the podcast we hear from contestant Mishack and his Absa adviser Johan Frouws as well as tips on what to do if you are retrenched.
The lock down will affect people in different ways. There are those who will be fortunate enough to still be receiving a salary, others will see a cut in pay and for many business owners or self-employed, they will be fighting to keep their heads above water. In this podcast Maya and Mapalo provide tips and information on how prepare your COVID-19 budget and what you can expect from your financial providers in terms of support.
In this time of unprecedented events Maya and Mapalo have put together a comprehensive strategy on how to manage your money in light of COVID-19. What to do with your investments, what to do if you are close to retirement and your options are if you have lost work or experiencing a drop in income.
In the first of our monthly City Press/Absa Money Makeover podcasts we chat to Absa financial adviser Steven Williamson about how he guided last year’s winner Samke to turn her finances around in just six months. We also hear from his candidate this year, newly-wed Nono about how her credit card is nearly paid off in just two months. Once again the Money Makeover challenge shows that if you take control of your finances, anything is possible. You can also follow the Money Makeover journey in City Press, YOU magazine and on FaceBook @CPMoneyMakeover where you will be provided with additional tools and tips to implement your own DIY Money Makeover.
Also listen to last year's winner Samke on how she turned her finances around in six months
https://audioboom.com/posts/7287673-my-money-my-lifestyle-13-june-2019-how-i-got-out-of-debt-in-six-months
Listen to the budget speech highlights and low downs with Maya and Mapalo -– what it means to the ordinary South African as well as the risks building towards a possible downgrade. Maya also chats to Sharon Machutchon of Mazars about the removal of exchange controls for individuals and how expats are going to be taxed from 1 March.
While her current car has been a reliable mode of transport, Mapalo faces the reality that after eight years, it is time to buy a new one. What car should she consider? How does she work out her affordability and should she put down all her savings as a deposit? Maya and Mapalo chat to Elton Govender of http://www.autokustom.co.za/ about how to chose the right car and whether a second hand car makes sense.
The debt statistics, especially for higher income earners, are alarming. Figures released as part of National Debt Awareness month show that, on average, higher income earners have increased their debt by 50% since 2014. In this podcast Maya and Mapalo unpack the reasons for this debt spiral and what to do if you are no longer keeping your head above water.
One of the ways to find that extra cash to start saving is to review your fixed costs, like short-term insurance. In this episode Maya and Mapalo discuss some of the new insurance players in the industry that are using technology to drive down costs. They also share tips to create “invisible” savings
You want to invest, but don’t know where to start? Whether you have R500, R5000 or R50 000 to invest, the principles remain the same. In this podcast discussion Maya and Mapalo are joined by personal finance blogger StealthyWealth to share their collective wisdom on how to start investing. The bottom line? Just start
This week, Maya (@mayaonmoney) and Mapalo (@womanandfinance) answer readers’ questions about retirement: when to take the cash and run or when to buy an annuity, how much you can draw of your capital and why good advice is worth paying for. They also give listener Thando, a young student, a few tips on how to start on the road to financial freedom.
In this first podcast edition for 2020 Maya and Mapalo discuss their own strategies to grow their net worth and how to set SMART goals. They also share the apps and tools they use to manage money.
In the final My Money, My Lifestyle podcast for 2019 Maya and Mapalo discuss how to prepare your finances for an uncertain future. Should you use your bonus to pay off debt or invest? Do you have enough pay cheque left for Januworry and what does a Moody’s downgrade mean for your investments? We also include a discussion on identifying crypto scams and how to know whether you are using a trusted platform.
The last four years of poor market performance highlighted the risk of relying on capital drawdown in retirement. In this final edition of our Investment Series with Marriott Income Specialists, Maya and Mapalo discuss how to start building a retirement portfolio that will provide a predictable and sustainable income.
Why you should invest offshore A decision to invest offshore should not be driven by fear but rather as part of a diversified investment portfolio for the best risk adjusted return. In this episode of Investment Series, Maya and Mapalo chat to Duggan Matthews and Lourens Coetzee from Marriott Income Specialists about offshore investing - where and how to invest as well as the tax considerations
Why women make great money managers. Maya and Mapalo discuss how women tend to approach money and finances and why this can be either an attribute or hold them back from taking necessary risk. Sean Sanders and Louis Buys from crypto platform Revix join the discussion sharing their experiences, not only on how women investors approach crypto, but also their own investing strategies, their successes and mistakes.
Is it possible to invest in socially responsible businesses and make a return on your investment? In this podcast. Maya and Mapalo chat to Duggan Matthews and Lourens Coetzee from Marriott Income Specialists, who argue that in fact, only those companies that are socially responsible will deliver sustainable, long-term returns.
Do you know your net worth? In this podcast Maya and Mapalo discuss how to calculate your net worth and how to use it to track your financial progress. They also look at the best ways to finance your home loan and whether it makes sense to focus only on paying off debt or finding a balance between investing and debt reduction
This week’s episode is part of our Investment Series where we focus on investing and specifically investing for a sustainable income. Maya and Mapalo chat to Lourens Coetzee and Duggan Matthews from Marriott about why investors are returning to a dividend focused investment strategy. What are dividends and how can how they can be used to create a passive income?
Cryptocurrency: Is this money, an asset or a get rich quick scheme?
What exactly is cryptocurrency? Is it something we should be investing in and if so how do we do it? Maya and Mapalo ask the questions you may be too shy to ask. Cryptocurrency experts Sean Sanders and Louis Buys, co-founders of Revix, help us unpack the world of digital money
In her book, “You are not broke, just pre-Rich” Mapalo explains that moving towards financial freedom starts with a state of mind. In this podcast Maya and Mapalo discuss what drives our buying decisions and how you can blow R200 a month on “unconscious” spending or use it to become a millionaire.
Facing retrenchment is a very frightening experience, but you can manage the stress and financial fallout if you have a plan in place. Maya and Mapalo discuss the many options, including insurance, you may not even know you had that can lessen the financial blow. If you are facing retrenchment or know someone who is – listen to this podcast..
Have you ever thought of signing up to sell make-up, health drinks or cleaning products to make a few extra rand? Maya and Mapalo chat to journalist Angelique Ruzicka about whether direct selling is a way to make your millions or just a disguised pyramid scheme. Maya also chats to personal finance blogger Brendan Dale about why the profit when selling your home may actually be a loss.
With proper planning you can have that overseas trip without financial regrets. Maya, Mapalo and personal finance blogger Brendan Dale share their travel budget secrets
With proper planning you can have that overseas trip without financial regrets. Maya, Mapalo and personal finance blogger Brendan Dale share their travel budget secrets
Maya and Mapalo speak to personal finance blogger Brendan Dale about how he manages his budget to achieve Financial Independence to Retire Early (FIRE). Is it a fad or something we could all apply to our finances?
Maya and Mapalo speak to personal finance blogger Brendan Dale about how he manages his budget to achieve Financial Independence to Retire Early (FIRE). Is it a fad or something we could all apply to our finances?
In this week’s edition, Maya and Mapalo explain how you can pay your house off as quickly as your car and discuss how easy it is to fall for a scam. The recent raid by the authorities on CoinIt and Commex Minerals highlights the rise of dubious investment offers which are aimed at financially desperate people.
In this week’s edition, Maya and Mapalo explain how you can pay your house off as quickly as your car and discuss how easy it is to fall for a scam. The recent raid by the authorities on CoinIt and Commex Minerals highlights the rise of dubious investment offers which are aimed at financially desperate people.
Maya and Mapalo discuss the dangers of signing up for a credit facility as well as how your partner’s debt can impact your credit score
Maya and Mapalo discuss the dangers of signing up for a credit facility as well as how your partner’s debt can impact your credit score
If you have an investment policy someone is earning commission on it. When did you last speak to your adviser and do you even know who they are? Maya and Mapalo discuss commissions, fees, advice as well as why you need to start being more careful about protecting your online data.
If you think the signing in of the debt relief bill means your debt woes will soon be over, think again. Maya and Mapalo look at the implications of the so-called debt relief bill both for consumers and credit providers.
Building a long-term share portfolio requires more homework than just investing in the latest hot stock you heard about around the braai. Maya and Mapalo discuss what it takes to make the right investment decision
Maya and Mapalo explain the evils of balloon payments and why they explode your finances. They also provide some tips on how to settle that balloon payment hanging above your head.
How much tax do you save by investing into an RA? What is the tax bill when you cash out? Why is it a bad idea to use your pension to settle your debts? If you are thinking about cashing in your retirement fund or starting one, listen to Maya and Mapalo’s responses to reader questions
From buying groceries to building wealth, Maya and Mapalo discuss the evolution of stokvels and the power of collective investing
Who should you select as an executor and what happens to your retirement funds when you die? Maya and Mapalo unpack what you need to consider when writing up your Will
Does shopping around for competitive quotes really affect your credit score? Maya and Mapalo unpack the myths and the facts around what affects your credit score and how you can improve it
By having a blood test you can significantly reduce your life cover premium, so why are people so reluctant to do so? Maya Fisher-French and Mapalo Makhu chat to Liberty expert Lisa Gibbon to understand what risk factors are considered when calculating your premium and what you can do to ensure a competitive premium.
Media coverage around disallowed claims by life insurers has tarnished the industry. In this podcast Maya Fisher-French and Mapalo Makhu chat to Dr Thabani Nkwanyana, lead specialist medical officer at Liberty on why a claim would be turned down – your rights and responsibilities. We also look at principle of re-constituting a policy in the case of non-disclosure. Is this a fairer option to both the customer and the insurer?
Money Makeover winner Samke chats to Maya and Mapalo about her experience of struggling with debt from her first paycheque and how she achieved her goal of being debt-free by the age of 27.
Ahead of Youth Day, Samke’s story highlights the challenges around the lack of financial education for young people, but also a how, with the right attitude and motivation, you can take control and change your life. This podcast was sponsored by the Banking Association of South Africa
Does it make sense to switch your life cover? Does your life policy have a surrender value and what happens to all those premiums you paid if you switch to another provider? If you are considering switching, what questions should you be asking? In this week My Money, My Lifestyle Podcast Maya and Mapalo speak to Liberty expert Henk Meintjes to understand exactly how life cover works and the real value of your existing policy
: Life insurance is the easy part – you die, you get paid, but what about all those other insurances that we are told we need, like income protection, disability lump sum insurance and critical illness? What do they mean and when do we need them? Maya and Mapalo chat to Liberty expert Kresantha Pillay to help unpack the confusing terminology.
Complaints about vehicle insurance is the most common grievance received by the Ombuds for Short-term insurance. Maya and Mapalo discuss what fine print to check on your car insurance. Before that, it's about how to start and where to save for that emergency fund? Maya and Mapalo also discuss why you should prioritize your emergency fund, even before debt repayment.
Have you been a victim of a loan scam? Maya and Mapalo discuss the modus operands of loan scams and also unpack the details of the Barlowworld Kula Zizwe BEE offering.
To join the conversation send us a Whatsapp voice note to 064 554 3959
Finances 101 for the self-employed: Maya and Mapalo discuss the best strategies, and their personal experience, on how to manage your income when you work for yourself
Is now the time to invest in the market? Maya and Mapalo discuss market predictions and also warn about why trying to time the market is the quickest way to lose money
Why your marriage contract could see you responsible for your partner’s pre-marriage debt. Maya Fisher-French and Mapalo Makhu discuss the ins and outs of marriage contracts and what it takes to be a millionaire within five years
Why it takes forever to reduce your home loan, Maya Fisher-French and Mapalo Makhu discuss why that extra R500 into your home loan makes such a big difference and why you should start saving for your kids’ education.
How to budget for eating out, shoes and all those other luxuries – Maya Fisher-French and Mapalo Makhu discuss budgeting and what you need to be aware of when you buy an annuity in retirement
Why would a parent want their kids to take on car debt? Maya Fisher-French and Mapalo Makhu discuss the other side of black tax in this week’s My Money My Lifestyle podcast and provide a remedy if choosing the right ETF is giving you analysis paralysis.
You want to start paying off your debt but just don’t know where to start? Maya Fisher-French and Mapalo Makhu provide a step by step guide.
To join the conversation send us a voice note to 064 554 3959.
Is your dream car causing you nightmares? Do you just want to give the keys back? Maya Fisher-French and Mapalo Makhu discuss the do’s and don’ts when it comes to giving your car back. To join the conversation send us a voice note to 064 554 3959
Are banks racist? Do you really get 55 days interest free on your credit card? Should I buy an apartment or a car – asks a 23 year old. Maya Fisher-French and Mapalo Makhu discuss this week’s headlines in City Press’s money section. To join the conversation send us a voice note to 064 554 3959
How much do you save by paying a deposit on your car? How much tax is in your fuel bill? What does it take to retire early? Maya Fisher-French and Mapalo Makhu discuss this week’s headlines in City Press’s money section
Banks reverse illegal debit orders, is TymeBank worth the switch and dispelling those money myths that hold you back from creating wealth - Maya Fisher-French and Mapalo Makhu discuss this week’s headlines in City Press’s money section
Is your adviser really acting in your best interests, what you need to know before taking out a joint bond and why you cannot take your retirement annuity as a lump sum. Maya Fisher-French and Mapalo Makhu talk about the articles making headlines in the Money section of City Press.
Could early retirement release the entrepreneurial spirit? Listen here For the full post-budget podcast hosted by @mayaonmoney go to https://soundcloud.com/maya-on-money/my-money-my-lifestyle-budget-2019-podcast-with-liberty
How much tax are you paying at the petrol pumps? Listen here For the full post-budget podcast hosted by @mayaonmoney go to https://soundcloud.com/maya-on-money/my-money-my-lifestyle-budget-2019-podcast-with-liberty
Don’t be fooled, you are paying more tax: Listen here For the full post-budget podcast hosted by @mayaonmoney go to https://soundcloud.com/maya-on-money/my-money-my-lifestyle-budget-2019-podcast-with-liberty
How did the market respond to the budget? Listen here For the full post-budget podcast hosted by @mayaonmoney go to https://soundcloud.com/maya-on-money/my-money-my-lifestyle-budget-2019-podcast-with-liberty
What would a credit downgrade mean? Listen here For the full post-budget podcast hosted by @mayaonmoney go to https://soundcloud.com/maya-on-money/my-money-my-lifestyle-budget-2019-podcast-with-liberty
Why government finances look a lot like most South African households: Listen here For the full post-budget podcast hosted by @mayaonmoney go to https://soundcloud.com/maya-on-money/my-money-my-lifestyle-budget-2019-podcast-with-liberty
What the budget means to your money and investments
Was this budget enough to prevent a credit downgrade and what does that mean for our finances? How much tax are we really paying, are prescribed assets still a possibility and has retirement reform stalled? Listen to financial journalist Maya Fisher-French discuss these topics with industry experts Vimal Chagan, Faeeza Khan, and Carlo Gils
The My Money, My Lifestyle podcast featuring the contributors to the City Press Personal Finance pages. How much can you save by shopping around for funeral cover, what are those hidden costs that are fleecing you each month and how to pay less tax through investing, Maya Fisher-French (@mayaonmoney) and Mapalo Makhu (@womanandfinance) discuss this week’s headlines in City Press’s Personal Finance section
The My Money, My Lifestyle podcast featuring the contributors to the City Press Personal Finance pages.
Understanding the difference between a unit trust and an exchange traded fund, how to protect yourself from SIM swops and how to turn your finances around , Maya Fisher-French (@mayaonmoney) and Mapalo Makhu (@womanandfinance) talk about the articles making headlines in the Personal Finance section of City Press.
The My Money, My Lifestyle podcast featuring the contributors to the City Press Personal Finance pages.
From how to invest in a cow, enjoying your money and why cash has been king, Maya Fisher-French and Mapalo Makhu talk about the articles making headlines in the Personal Finance section of City Press
The My Money, My Lifestyle podcast featuring the contributors to the City Press Personal Finance pages. From how to settle your balloon payment, whether to cash in your pension and all you need to know about tax-free savings, Maya Fisher-French and Mapalo Makhu talk about the articles making headlines in the Personal Finance section of City Press
From how to invest with as little as R500 to how to save money by using credit, Maya Fisher-French (@mayaonmoney) and Mapalo Makhu (@womanandfinance) talk about the articles making headlines this week in the Personal Finance section of City Press.