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Tag: interest

Compound interest is one of the wonders of the world. The investment world that is. However, just as compound interest can be an amazingly positive thing for your savings and investments, it’s the exact opposite for your debt.

Learn about interest – what it is and how it works. Be it in the positive or negative way.

Buying a new car

Buying a new car

by Brendan14 January 202214 January 2022Leave a comment

I'm looking at buying a new car sometime in the next year or two as mine is over 10 years old and not as comfortable as I'd like. In fact, my partner and I have started doing more road trips…

Read More Buying a new car

Smart Choices car, featured, interest, loan, save
calculate interest

How to calculate interest on South African loans

by Brendan30 July 202013 August 2020Leave a comment

Sponsored Post When applying for a loan in South Africa or anywhere else in the world, a little understanding of important financial terms goes a long way. Therefore, it's crucial to be familiar with interest rates if you want to…

Read More How to calculate interest on South African loans

Pay off debt calculate, interest, loan
See your money grow

What is compounding interest?

by Brendan15 April 202029 October 2020Leave a comment

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…

Read More What is compounding interest?

Investing featured, growth, interest
Inflation explained

What is inflation?

by Brendan23 January 20207 April 20201 Comment

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…

Read More What is inflation?

Investing inflation, interest
How much car can I afford

How much car can I afford?

by Brendan13 August 201914 January 2022Leave a comment

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 underestimated. But how much car…

Read More How much car can I afford?

Smart Choices balloon payment, car, interest, loan, transport
Never lend money to friends

Nqobile’s debt story

by Brendan9 July 201919 April 2021Leave a comment

A real debt story from a reader which started when she agreed to lend money to friends! Unedited How I got into debt So the year was 2017 (I was 23 years old at the time), in April my 2…

Read More Nqobile’s debt story

Pay off debt debtstories, interest, real life
Best student account in South Africa

Finding the best Student Account

by Brendan5 July 20191 April 2021Leave a comment

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 come with lower monthly fees (some even…

Read More Finding the best Student Account

Smart Choices bank, fees, interest, save, student account
Save money or pay off debt

Is it better to save money or pay off debt?

by Brendan2 January 20191 April 20216 Comments

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

Pay off debt, Save Money calculate, emergency fund, interest, invest
home loan initiation fee

The true cost of the home loan initiation fee

by Brendan21 October 201820 September 20211 Comment

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…

Read More The true cost of the home loan initiation fee

Pay off debt, Save Money bond, calculate, formula, home loan, interest, mortgage
Why do people get into debt

Why do people get into debt?

by Brendan30 August 201812 July 20215 Comments

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…

Read More Why do people get into debt?

Financial Freedom debt free, home loan, interest
Should I sell my car?

Should I sell my car?

by Brendan21 May 201812 November 20203 Comments

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…

Read More Should I sell my car?

Financial Habits, Save Money calculate, car, interest, invest, transport, travel
Credit cards pros and cons

Credit Cards pros and cons

by Brendan23 April 201822 February 202111 Comments

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…

Read More Credit Cards pros and cons

Financial Habits, Smart Choices calculate, credit card, debt free, emergency fund, interest, shopping

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