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Simple Ways to Save Money in your 20s

Set up a savings account with higher interest rates When you’re ready to begin a savings plan or take your savings strategy to the next level, the first thing you’ll need to do is open a new savings-specific bank account in which you can deposit money in regular intervals. When you’re ready to do so, there are two things you’ll need to consider. Given that you will likely use your savin… Read More..

Answering Common Questions about Your Credit Score

Remind me – what is a credit score? A credit score is a calculation of how ‘credit worthy’ you are when you apply for a loan, bond, or any other form of finance. Found in your credit report, your credit score is an indication lenders will use to understand how much money they can lend you, and how much you could afford to repay, over a certain amount of time. Your credit score is calcul… Read More..

What to Do if You’ve Been Scammed

Firstly, what is the definition of fraud? Fraud is defined in the dictionary as the “wrongful or criminal deception intended to result in financial or personal gain.” This means that fraud usually involves a person, or group, usually intending to deceive others by claiming a certain identity, qualities, or a set of accomplishments. Fraudulent acts usually involve a misrepresentation – wh… Read More..

What’s the Real Cost of a Loan?

Remind me – what’s a personal loan? A ‘personal loan’ is money that is borrowed from either a bank, an online lender (such as Wonga), or a credit union that can be paid back either in a lump sum (all at once, paid back with interest and fees) or over an instalment period (typically a period of months or years, paid back with interest and fees). Personal loans are ‘unsecured’ – meaning th… Read More..

How to Stop Spending Money

Do you ever find yourself spending more than you like? Our easy guide can help you stop spending money - and help you save up for what you really need. Withdraw a budgeted amount of cash to prevent impulse spending ‘Impulse spending’ is where you find yourself struggling or unable to control how you spend money. For many people, this means being unable to say ‘no’ to buying popular items… Read More..

How you can Save Money Each Month

Whether its to save up for a special goal or to make it to month-end, everyone can always sharpen their saving skills. Below we explore how you can save money each month. How do I get started? If you’re ready to start saving money, it’s likely that you need to either free up money each month to put towards a particular expense or series of expenses, or you have a long-term goal in mind t… Read More..

How to Get Started with Budgeting and Manage Cash Flows

What is a cash flow? Most of us rely on a form of income each month, and we’ll also have multiple expenses – which could range from groceries, to school fees, to petrol or other utilities. A ‘cash flow’ is a term that describes the movement of money. While this can refer to one particular expense item or payment, the term is often used to describe the movement of both income and expenses… Read More..

When Credit and Culture Collide: The Role of Informal Lending

In South Africa’s changing financial markets, the introduction of new legislation can radically alter the dynamics of the formal and informal credit market – forcing consumers to change their borrowing behaviour, and driving credit providers to adjust their offerings accordingly. With the implementation of tighter lending criteria following amendments to the National Credit Act in 2015,… Read More..