Off The Beaten Track

financial goals

Here’s why you should get a tax-free savings account

August 29, 2016 // 0 Comments

Last year the government introduced tax-free savings accounts to boost South Africa’s savings rate. TFSAs are ideal because account holders are exempt from paying capital gains tax , tax on interest and tax on dividends. TFSAs are useful as long-term investments and parents can open them for their children. If you want a TFSA for each of your children you can save up to R30,000 a year per child. A family of five can save up to R150,000 a year. When it comes to the type of investment [...]

The Emergency Savings Fund

July 2, 2015 // 3 Comments

You’ve probably heard it many times: you should ‘save for a rainy day’. Having an emergency savings fund helps you prepare for unexpected costs that may arise. Emergencies can be anything from replacing your microwave to a big car or home repair. It’s a good idea to have money set aside for such so that you don’t have to turn to debt and cause yourself an unnecessary headache while losing money in the process. An emergency savings fund guarantees peace of mind and [...]

Adulting 101: Setting financial goals

June 25, 2015 // 0 Comments

The process of cleaning up your finances and simply setting financial goals can seem a bit overwhelming when you’re burdened with debt and prefer to stick your head in the sand. But debt problems are not solved by ignoring them. Putting together a financial plan and setting financial goals will help you get to where you need to go a lot faster, and with a great deal of clarity. Setting SMART goals SMART goals are S = Specific M = Measurable A = Attainable R = Realistic T = Timely [...]

Piggie Bookshelf: How Much is Enough? By Andrew Bradley, Arun Abey & Andrew Ford

May 27, 2015 // 0 Comments

We all have big dreams, maybe you want to travel, or quit your job to pursue your true passion. Whatever your dream, often the one thing standing in the way of us and realising our dreams is fear and money. While fear can be dealt with by shifting our focus, money might not be so easy. How Much Is Enough? is a brilliant book that will help you align your financial planning with your values and dreams. The book is divided into three parts: Part 1 – The Bridge of Well-being: This section [...]

So You Want to Freelance?

May 3, 2015 // 0 Comments

This article first appeared on The Daily Planet website. Click here for original article.   I’m starting to think I may have approached this funemployment business with rose-coloured glasses. Freelancing is great because I work flexi hours, but nothing prepares you for the gaps in pay – no matter how ‘financially savvy’ you are. I’d like to share a few tips on how to manage money when you’re not getting a steady salary.   Budget for fixed and variable expenses Some [...]