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Everything You Need to Know About the Emergency Budget Speech

With the sudden spread of COVID-19 across the globe, and the need for our government to initiate a national lockdown to control the rate of infection and manage the capacity of hospitals and clinics to care for the affected and vulnerable, the National Treasury has needed to adjust the budget that was first presented in February this year to accommodate for the financial impact felt over…

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What Financial Relief is Available During Lockdown?

The national lockdown can be financially challenging – our list of resources and options for financial relief can help you control your income and cash flow.  Submit a claim to the UIF or TERS  The Unemployment Insurance Fund has offered assistance during the COVID-19 pandemic and has set up specific benefits for, and made existing benefits applicable to employees that are financially im…

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A Guide to Managing Your Money in Lockdown

Our national lockdown has brought on new financial challenges. From managing your expenses to generating additional income, our in-depth guide is here to help. Switch to a cheaper bank account It often goes unsaid that one of the most silent, and yet pricey, expenses you may be settling each month are your bank account fees. In South Africa, there are many different types of banking acco…

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What to Do When You’re Facing a Loss of Income

Though many South Africans might rely on different forms of income – whether you are formally employed or a business owner who takes on various positions – most of us are reliant on a steady stream of income from month-to-month to meet our expenses and grow our savings and investments. For that reason, facing a loss of income can naturally be stressful and concerning – especially if this…

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How to Start Your Emergency Fund

No-one ever wants to have an emergency – much less the cost, expense, and the stress that one can bring. Often, emergencies and unforeseen expenses strike when they’re least expected, and can complicate our daily lives and our budgets. While short-term credit can help you navigate an unforeseen expense and take back control, an equally powerful tool you can use is to develop – and use –…

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5 South African Success Stories to Motivate Your Money Management

Herman Mashaba, Aug. 22, 2016. (Photo by The South African) Herman Mashaba Though he may be more familiar by his recent title as the Mayor of Johannesburg, Herman Mashaba is one of South Africa’s foremost entrepreneurs – having established the prolific hair product company, Black Like Me. Born in 1959 in Hammanskraal, Mashaba grew up in adversity, describing his living conditions as ‘ne…

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What is Credit Insurance, and How does it Work?

What is credit insurance? Credit insurance is a form of insurance issued by long-term lenders that is usually offered with a new loan. Credit insurance typically covers 3 life events: death, disability, or unemployment. If one of these events takes place, the loan agreement is either settled in full of the monthly repayment is paid for a period.   Credit insurance typically applies to lo…

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COVID-19: How we are adapting

With South Africa preparing for a lockdown as a result of the COVID-19 pandemic, we at Wonga will continue to operate with our focus on supporting you through these challenging times. But as you can imagine, this is not business as usual for us and we have had to make some necessary adjustments which we want to make you aware of. Changes to our loan terms In this time of uncertainty, we…

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