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What is the Prime Lending Rate, and How Does it Affect You?

The Repo Rate and Prime Lending Rate can affect home loan and vehicle finance repayments – but what do these terms mean? We explain in more detail. What is the Repo Rate? When you borrow money from a commercial bank, that money isn’t waiting in a vault – instead, commercial banks, such as Standard Bank, FNB, Capitec, ABSA or Nedbank will instead borrow large sums of money from the South…

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Three Amazing Money Stories to Motivate You in 2020

Many celebrities have had to overcome financial difficulty - from Oprah Winfrey to JK Rowling. We share amazing money stories to motivate you this new year. Entering a new year can be either an exciting or daunting financial challenge.  Each January, we have the opportunity to pause, reflect, re-adjust and re-evaluate our financial goals to greater success throughout the year. If you fin…

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How to Set Financial Priorities for the New Year

With the start of a new year and decade, now is the time to set your financial priorities. This easy-to-follow guide can help you set yourself up for success!  Look at your needs and life stage  Everybody’s daily life is different, and can invite varying financial pressures, successes, stresses and inconveniences. Taking an honest look at your own situation is the first major step to set…

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What You Need to Know About Debt Management

Debt management is when you actively prioritise, plan, and control your repayments on various loans, bonds, or other forms of credit. To manage your debt, you’ll always want to follow best practices and avoid taking on too many loans. Here, we’ll run through how you can take proactive steps to become debt-savvy, and what to do if you feel that you’ve borrowed too much. Remind me, what is…

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Practical Saving Tips to get the New Year off to a great start

For many of us, the start of a new year is a stressful financial period after the expense of enjoying the festive season. For this reason, the term ‘Januworry’ has only become more popular!  While December can be a difficult month to manage financially, there are several practical things you can do to help manage your cash flow, identify investment opportunities, and potentially save mor…

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South Africa's Festive Spending Set to Rise to Over R250 Billion

Research has revealed that South Africans will each incur an average of R6 585 in festive expenses this summer, over and above their usual budgeted expenses. Based on Statistics SA’s mid-year population size estimates, working aged South Africans are set to pump R254 billion into the economy, an increase of 24% from last year. As part of our Festive Spending Survey, almost 6 000 South Af…

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Our Financial Guide to Surviving the Festive Season

The festive season means a time of joy, celebration, and relaxation for many – however, this can also bring stress and frustration while managing finances along with gifts, travel expenses, and holiday plans. Fortunately, there are several ways that you can budget and plan ahead to ensure that not only is your holiday season stress-free, but that you can set yourself up for success in th…

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Busting Popular Myths about Credit

When it comes to applying for credit, there are many myths and misconceptions that range from your credit report, your credit score, or even whether an employer can choose to turn down your job application based on your credit history. Here, we’ll unpack some popular credit myths and offer insight into how you can improve your credit score and take control of your finances. Credit report…

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