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Tag: interest
What is compounding interest?
The power of compounding interest and its beneficial outcomes for those on the fortunate side of the finance equation is a well-known one. The undesirable side would be the side that pays compound interest on debt such as a house mortgage…
What is inflation?
How inflation teams up with time to rob you! What is inflation? We know that moment all too well standing at the pay point, card in hand; the sudden realization that the cost of our groceries has spiraled upwards over…
How much is your car actually costing you?
First published in City Press Car ownership is essential for many South Africans, but even if you don’t absolutely need a car, it sure makes life easier! The convenience of just going to where you need to be can’t be…
Nqobile’s debt story
A real story from a reader! Unedited So the year was 2017 (I was 23 years old at the time), in April my 2 friends were building houses for their families and were asking me for financial assistance because they…
Finding the best Student Account
This article first appeared in City Press The more traditional banks offer accounts tailored to young people and students. Some require you to be a full-time student, while others simply look at your age as a qualifying criteria. These accounts…
Is it better to save money or pay off debt?
Is it better to save money or pay off debt? Debt is obviously expensive, but there is a great argument to be had to start an emergency fund
The true cost of the home loan initiation fee
There are so many fees, taxes and costs involved when purchasing a property that it comes as a relief when the bank offers to add the home loan initiation fee on to the loan so that you don't have to…
Why do people get into debt?
Ever wonder why people get into debt? I mean, we all know that debt is bad. But let's be honest now, the "debt system" is built in such a way that we're encouraged (forced?) to get into debt in order…
Should I sell my car?
My partner and I are in a very fortunate position where we both own a fully paid for car. This is great and super convenient, but does it really make financial sense? I've been thinking about whether I should sell…
Credit Cards pros and cons
Credit cards are really useful and convenient now days, but it's so easy to fall into debt and your finances can quickly spiral out of control. Let's explore the credit cards pros and cons and see if it's something that…
Perceived effort of Saving
There's a perceived effort of saving. That is, when you feel it's too much work for the value you get. But is this really the case? Is it so hard to save money? Speaking to a colleague the other day…