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…
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 –…
5 South African Success Stories to Motivate Your Money Management
Herman Mashaba, Aug. 22, 2016. (Photo by The South African)
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…
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…
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…
Everything You Need to Know About the 2020 Budget Speech
Each year, shortly after the President gives the annual State of the Nation Address, the Minister of Finance delivers the Budget Speech – where, as a representative of the National Treasury, the Minister will announce what allocation of funds and what taxes will either be created or altered to deliver on the aims and objectives outlined in the State of the Nation Address.
This year, Fina…
What are the 6 Most Common Forms of Investment?
Investing is where you purchase assets, items, or invest into funds with the hope of growing your money through interest – but what are some of the most popular options that new and experienced investors choose?
In this article, the 6 investment forms we’ll look into are:
Money market accounts
Foreign exchange trading
Remember, there’s no…
5 Uniquely South African Ways to Save Money
South Africans can use many inventive ways to save money – from joining a stokvel to managing data expenses, we provide some great suggestions.
Join a stokvel
A ‘stokvel’ is a saving scheme or club in South Africa, where members (usually up to 12) will each contribute money towards one single fund on a regular basis, which can be daily, weekly, or monthly.
The term ‘stokvel’ refers to bo…