June 5, 2024

Thrive in Today’s Market: How Business Advisory Services Fuel Growth

In today’s dynamic business environment, simply offering a quality product or service isn’t enough. Success hinges on strategic planning, sound financial management, and the ability to adapt. Business advisory services bridge this gap by providing the expertise you need to navigate challenges, seize opportunities, and achieve sustainable growth. Unlocking financial potential: – Expert guidance: Advisors become an extension of your team, analysing your financial health to identify areas for improvement. They craft strategic plans aligned with your business goals, ensuring your financial resources are allocated effectively. – Data-driven decisions: Budgeting and forecasting become powerful tools for maintaining financial stability and profitability. Understanding […]
April 22, 2024

Key Considerations Before Borrowing Money in South Africa

Securing a loan is a common approach for financing various personal and business needs in South Africa, from purchasing property to covering unexpected expenses. However, the decision to borrow money requires careful thought and planning. Here are essential factors to consider before you commit to a loan. Assess your financial situation: Evaluate your needs and repayment ability The first step is to identify why you need the loan and how much you need to borrow. It’s equally critical to assess your ability to repay the loan. Review your monthly income, expenses, and any existing debts to ensure you can comfortably […]
April 22, 2024

Unlocking the Full Potential of Your Medical Aid

In South Africa, having medical aid is a critical step towards ensuring your health and well-being, but it’s equally essential to maximise the value of your investment. With rising healthcare costs and a multitude of medical aid options available, understanding how to get the most out of your medical aid is essential. In this article, we’ll delve into key strategies to help you maximise your medical aid’s value while also shedding light on important considerations such as the difference between medical schemes and health insurance, and your prescribed minimum benefits (PMBs). Choose the right plan Selecting the most suitable medical […]
March 22, 2024

2024’s Top Risks for Corporate Leaders

In 2024, corporate leaders in South Africa and around the world are facing more legal challenges than ever before. As the business environment becomes more complex, directors and senior officials are finding themselves at a heightened risk of litigation across a variety of fronts. Factors increasing legal risks for corporate leaders The business world is evolving rapidly, with several factors contributing to the increased legal jeopardy for directors and senior officials. These include: Economic and geopolitical instability: Economic and geopolitical instability places the global economy under significant strain, with inflation hitting highs not seen in a decade and the cost […]
March 22, 2024

Why Honesty Is the Best Policy When Dealing with Your Financial Advisor

The foundation of any relationship with a financial advisor is built on trust and transparency. Clients are expected to share intimate details about their financial lives, similar to how one would discuss health issues with a doctor. This level of openness ensures that advisors can provide tailored advice that accurately reflects the client’s financial health and goals. Shared life stages and understanding A unique aspect of the client-advisor relationship is the mutual understanding that can develop, especially when both parties are at similar life stages. This common ground facilitates discussions that are not just transactional but also empathetic, taking into […]
March 22, 2024

Godongwana Reaches Out to Private Investors

Better-managed PPPs can help South Africa avoid prescribed assets. South Africa may very well be at the brink of a new era, where a greater focus on public private partnerships (PPPs) can help to address the country’s multiple challenges. The ongoing energy crisis, a deteriorating and unreliable logistics system, failing infrastructure, and climate risks—solutions to these challenges require the technical and financial support of the private sector. With the state’s plans to launch unique infrastructure instruments, driving private sector participation may not necessitate prescribed assets legislation. This was the sentiment following the reforms that Finance Minister Enoch Godongwana alluded to […]
March 22, 2024

Three Innovative Approaches to Boost Your Retirement Savings

Retirement planning is absolutely key to your financial well-being, but let’s face it, as those golden years inch closer, a lot of us start to worry if what we’ve saved up is really going to cut it. Sure, sticking to the tried-and-true savings plans is essential, but why not think outside the box a little? There are some pretty smart, yet less traditional ways to beef up your retirement savings without taking on too much risk. Let’s explore three creative strategies you might want to consider: Leverage your annual leave Strategic use of leave days: In the corporate world, senior employees […]
March 22, 2024

Silence is Golden in This Year’s Budget Speech

What matters more than the contents of this year’s budget is what has been omitted from it. Its greatest virtues are four days less tax, no NHI, and liberated electricity markets. The budget does not, for instance, provide for two huge burdens promised by the government—the draft electricity plan (IRP2023) and the National Health Insurance (NHI) (which would, paradoxically, prohibit insurance). The budget subtext is that government-funded electricity and NHI will never happen. Healthcare will remain roughly as is, and there will be electricity supply competition. However, the budget’s single greatest accomplishment is that Tax Freedom Day (TFD) will be […]
March 18, 2024

Essential Financial Lessons Every Parent Should Pass Down

It’s true; financial literacy is as crucial as academic education, and many of us find ourselves reflecting on the lessons we wish were imparted by our parents. Growing up in South Africa, where economic challenges and opportunities coexist, understanding money management from an early age could have set a solid foundation for personal financial success. Here, we delve into the core financial concepts and practices that could significantly alter the course of our financial journeys, emphasising the importance of teaching your children basic financial concepts. Teaching your children basic financial concepts By engaging in open conversations about money, setting a […]
We use cookies to improve your experience on our website. By continuing to browse, you agree to our use of cookies
X