Managing your finances without a plan is much like driving without a destination. You’ll never really know if you are there yet. In fact, you could be going in circles, or possibly drifting but you’ll never really know.
Making a financial plan is really not hat hard nor complicated. It just takes a but of focus and understanding your current situation and deciding where you want to get to. You can then break things down to small and achievable goals.
An important part of planning though is to understand that you can change your plans at any time. You need to constantly reassess your situation and decide if what you are doing is still the best path, and whether your ultimate plan is still relevant for your current circumstances.
Blended annuities – are they ‘just right’ for your retirement? A priority for South Africans approaching retirement should be to secure an income for life that at least covers essential monthly expenses (e.g. housing, food, water and electricity, transport, phone…
Regulations require you to use at least two-thirds of your Retirement Fund to buy an annuity when you retire. An annuity is a product that provides you with a monthly retirement income or pension. The regulation applies to a Retirement…
We've all had a somewhat challenging year and I thought to start the new year with some basic money management tips. Some may be things that you already do, and some hopefully are new to you, or they spark ideas…
Avoiding the instant gratification trap is one of the most important investment tips for beginners. In fact, more than a tip, it's a "must-do" in order to get started. For most of us, investing tends to be an enticing idea,…
It’s Journey-Man here again, the late starter! What a strange week this has been. Last week, as a late-starter, I decided to start thinking deeply about my financial life. I want to find out what the outlook is, in terms of…
Lockdown regulations have left many South Africans in financial despair. It's been tough. If you've got debt and feeling the pressure, you're definitely not alone! Let's explore how to deal with lockdown debt. Be kind to yourself Now is the…
Sponsored post It's not nice to think about death and no-one wants to start that conversation with a loved one. But why not? Surely you would want the best for your family after you die. Having the conversations, taking the…
Sponsored by 10X Investments Retirement planning basics The idea of retirement may be scary, especially if you’re in your 40’s (or older) and haven’t given it too much thought up to now. Retirement means different things to different people though,…
A guest post from a 40-something year old who left his retirement planning for almost-too-late. He's now getting his financial plan in place. As I continue the "Late-Starter journey" I realise that my financial life has worked out exactly as planned.…
Behavioural bias; you're only human You would be naïve to think that the daily financial decisions that you make are made in isolation from your emotional ones. We're only human and our personal finance behaviour is often as unpredictable as…
There's a lot happening now that is beyond our control and for which we could never really have planned for. It's a challenging time for many and everyone's circumstances are different. How you manage your finances during a crisis like…
Have you ever set a financial goal which you didn't reach? You really aren't alone because we live in a world fill of uncertainty and constant change. It might be easy enough to set short term manageable goal, but how…
