While Car Insurance is not legally required for car owners in South Africa, many of us would agree it’s important cover to have. Fixing parts that have been damaged in an accident, whether your fault or not, can be costly and Car Insurance is a good financial fall back drivers can have to protect themselves when it might happen.
When you took out your insurance policy, regardless of whether it was Car Insurance, Home Insurance or Buildings Insurance, you would’ve been informed of your excess amount. Excess in a nutshell is the amount you have to pay in order to have required repairs, that are covered by your policy, done.
The year may not be over yet, but with summer around the corner there’s no time like the present to do a bit of spring cleaning. Spring cleaning need not only apply to your household though, your finances can be just as important to spruce up as your carpets. With threats of more petrol price hikes in the near future, a number of South Africans are tightening up their budgets and relooking at their finances. With this mind, here are a few tips to help you spring clean your finances.
After a prolonged uncertainty about the Road Accident Benefit Scheme (RABS) and concerns about how it will be funded, the Treasury announced that it will finance RABS, according to a recent IOL report.
While you may be very happy with your two-door set of wheels, if you’re planning on starting a family or are about to expand, it may be time to upgrade to a family car. Once the baby is here you’ll need a car that can take the child seat, pram and the toys. To help you make the right selection, here are some favourites for a family car in South Africa.
You’ve probably heard that most accidents happen around the corner from where a driver lives, however, several studies show you run the maximum risk of being involved in an accident if you drive on certain days and times. Researchers from North-West University (NWU) ran the stats on fatal car accidents to figure out the periods when drivers are most vulnerable to fatal car accidents on South African roads, and what type of car accidents are most common.
When thinking about car write-offs, an image that often comes to mind is a mangled wreck destined for a scrap yard. While extensive damages are often enough to warrant the car being written off as ‘beyond repair,’ in many instances the car is just not worth repairing even though it still looks to be in decent condition.
Considering the high cost of owning a car, many motorists pinch every penny they spend on it and may even start looking at saving a few extra bucks on their Car Insurance. While there are a variety of ways insurance companies allow a discount on their premium, not all drivers play fair.
With smartphone adoption at an all time high, we have the world at our fingertips. A swipe of the screen and a touch of a button later, we’ve got all the information we need at any given time. While this has certainly made our lives easier in some regards, it has also led to an overload of information as we check our phones and tablets throughout the day, even when we’re out with friends.
We’re more than halfway through 2018 and while the summer holidays may still seem far away, some of us will be getting things in order for a trip overseas or even across the country. When you’re travelling, you’re sure to carry important information on you that must be kept safe, from your passport and air tickets, to driver’s licence and accommodation bookings. But many of us forget about the important information we keep and have access to on our devices.
Tax season started on 1 July, and while many of us don’t enjoy the process, it’s something we just have to get done. Whether you run a business and need to submit a tax return based on your business transactions, or need to submit your tax return purely on an individual basis, there are in fact some ways to make the most of it.
Poor road conditions can make driving a real challenge for motorists and can even result in vehicle damage or an accident. Potholes - a common sign that a road is deteriorating– are widespread throughout South Africa; according to the Johannesburg Roads Agency (JRA), 48% of the city’s roads have been identified as being in “poor” or “very poor” state while a poll by Wheels24 also ranks East London, Durban and Bloemfontein’s roads below top standard.
According to a report which first appeared on Times Live, an unknown but large number of South Africans were scammed out of millions of rands in an illicit plan involving the Bitcoin cryptocurrency. The fraud was on a large enough scale for the Hawks to get involved in May 2018 and their investigation continues.
If going to the movies is one of your favourite leisure activities, then you know how expensive it has become to go and see the latest blockbuster on the big screen. Considering the price of a cinema ticket nowadays, it’s easy to see why many adults prefer to watch new releases at home on their laptops or flat screens rather than opt for the movie-theatre experience.
Whether you’re buying your first car or your third, purchasing a car is a big deal. Considered to be the second biggest purchase you’ll make in your lifetime, after buying a house, purchasing your next car takes careful consideration. If you’re in the market for a new car, chances are the market has changed, prices are higher, and newer models are on offer every year. With so many options available, even experienced buyers look for guidance on what to look out for when buying a new car.
Teaching your children to be smart with money is a vital skill to impart on them. Being able to handle one’s money efficiently and effectively can help set you up for a lifetime of financial freedom. Starting your children’s financial education is then best started as soon as your children can count. The earlier you start, the more interested and confident they will be in managing their money correctly.
“Save for a rainy day” has become a common phrase associated with financial advisors. The reason for this is simple; the current economic climate provides little comfort for financial security, especially for those with basic financial understanding.
When you apply for a Personal Loan, credit card or retail account, some of the biggest factors that lenders take into consideration when calculating your creditworthiness are your previous payment behaviour and the number of accounts you have. What you may not be aware of is that not every financial activity will necessarily damage or improve your credit score.
According to a survey conducted by the Organ Donor Foundation (ODF) in 2017, 4 300 adults and children in South Africa are in need of a new organ, but only 361 transplants took place last year. Their studies further reveal that only around 0.2% of South Africans have registered as organ donors. South Africa is clearly in need of more donors, but many don’t understand the process, and possibly don’t know that one person can help up to 50 people through donating various organs and tissues.
So you’ve turned 18, you’ve got your learner’s licence, and you’ve decided it’s time to take the big test so that you can get yourself out onto the open road. While it’s an exciting time becoming a legal driver, the whole process can seem a little daunting. From booking your test to finding the right instructor, there are a number of steps you have to complete and forms you have to submit to get the process rolling, and it can all get quite confusing.
Working from home is just like running a business on a main street. You must conduct yourself in a professional manner when dealing with customers. You must ensure that your products and services are up to the standard your clientele expect. Adding to this, you face the same risks and liabilities as any other company.
South African motorists are locked in a seemingly constant battle with the high cost of fuel. The price of petrol has already climbed by 49 cents per litre in May and 82 cents per litre again in June. Forecasts now show we may be on track for another possible rise in July, while some even predict that it could cost R20 per litre to fill up our tanks by the end of 2019 if the rand continues its weak streak against the dollar.
We all want our beloved car to last as long as possible on the road. After all, some of us invested a small fortune in it and expect it to run well and look good whenever we take it for a drive. But, this is not always possible since your vehicle starts to depreciate the moment you drive it from the showroom floor.
One of the biggest concerns you may have in the aftermath of a car accident, is figuring how to seek compensation to fix or replace your car. A car accident can be a devastating and scary incident but it’s important to handle yourself correctly to achieve a positive outcome. Once you’ve assessed your own injuries, notified the police, and exchanged information with the other driver, you can get started determining the damages to your car and get the claims process started.
The purpose of a Funeral Cover policy is to cover the burial expenses such as buying a casket and paying the funeral director when you or a loved one passes away. It’s comforting to know that you’re financially protected against a death in the family and that your surviving loved ones can grieve without having to worry about how those funeral bills are going to be paid.
Do you dream of studying between the gothic towers and green lawns of Cambridge University? Perhaps you imagine yourself working in an office with a view of New York City’s scenic skyline? Or maybe you’ve always wanted to explore the colourful underwater realm of the Great Barrier Reef.
Driving in South Africa has its fair share of difficulties, from navigating potholes, to dodging taxis and getting delayed in roadworks. On top of this, there’s the chance of a flat tyre or even a fender bender. And while no one can predict these situations, you can deal with them far more effectively if you have the essential tools in your car. Whether you’re a regular road tripper or just rely on your car to get you to and from work everyday, having an emergency car kit makes a huge difference when you break down. Here are some essential items to put in your emergency car kit, to help you deal with car emergencies that you may find yourself in.
Hours after a parent, spouse or child passes away, you’re hit with the reality of making the funeral arrangements – a task you may not have hands-on experience with. You may have attended dozens of funerals before and already know the rituals that take place during the burial, but how do you pull it all together yourself considering all the challenges and decisions?
Power of attorney is a signed document which gives a person the ability to give another the right to make decisions and sign legal documents on their behalf. The person who gives another this right is known as the ‘principal’, and the receiver of this right is known as the ‘agent’.
Many car owners choose to put their own stamp on their new set of wheels. Some may go to extreme lengths to make their car stand out on the road as seen in the popular television show Pimp My Ride, while others may make a few tweaks here and there. They may add modifications to enhance the performance of the car or simply to do cosmetic upgrades. Even used-car shoppers will likely come across a car with custom parts installed.
Legal procedures can cost large firms millions of dollars each year. Recently, two well-known brands were on the receiving end of major lawsuits launched by consumers. In 2017, Johnson & Johnson were ordered to compensate a Californian women who alleged she developed terminal ovarian cancer after using the company's talc-based products. Closer to home, a class-action lawsuit has been brought against Tiger Brands and its subsidiary Enterprise Foods for the at least 183 known deaths as a result of the listeria outbreak.
Starting up your own business can be a fun adventure. Being your own boss means that you can run your company how you’ve always wanted to, set your own hours, and even work from home. But while there are a host of things that will be new and exciting you also have to think about protecting your business’s finances and assets. Having Business Insurance is a vital part of running your business smoothly.
Banks are just like other businesses – they charge a fee for their services called a ‘bank charge’ or ‘service fee.’ However, every bank has their own way of doing business and will charge different rates depending on the type of account you have and how and when you take money out.
Travelling can be an expensive endeavour, and the temptation to dip into credit becomes greater if you realise your dream trip may be unaffordable. For those who love to travel, but do not have the upfront funds to make it happen immediately and, more importantly, don’t want to get themselves into debt, lay-buy travel is the answer you’ve been looking for.
Whether you’re just starting a family or are welcoming another little bundle of joy into the world, a child will have a significant influence on your life. Raising a child may be one of life’s most rewarding experiences, but as a parent your priorities and responsibilities will change.
The South African Reserve Bank (SARB) has been notified of over 5 000 alleged financial scams in South Africa over the past five years, and they advise South Africans to be extremely cautious when investing their hard-earned money. Financial scams are common in South Africa, and consumers are urged to be aware of schemes that promise high returns within a short space of time.
There are certain money mistakes that can cost you for the rest of your life, such as taking on too much debt or failing to save enough for your retirement. Ensure you remain financially stable by avoiding the following five money mistakes from a list compiled by three financial advisors who work with people and their money every single day
The average cost of education at a government school, from pre-primary to matric in South Africa can add up to around R1.5 million per child. This is a substantial amount of money parents would need to have access to during the course of their child’s educational career, yet according to Old Mutual’s Savings and Investment Monitor 2017, 56% of South Africans are currently not saving for their child's education.
Studying while working part-time is not an uncommon occurrence, studying while working full-time is a bit more of a challenge. Whether you’ve decided to upskill yourself and further your current career, change job paths completely, or begin your very first experience of tertiary education while getting work experience at the same time, it can be a daunting task to tackle.
Every year after the annual budget speech, South Africans become a little more conscious of their money and their spending habits. With an increase in VAT from 14% to 15%, many everyday expenses will soon increase in price, and budgets will become a little tighter.
Vehicle crimes such as hijacking affect South Africans a lot more than we are aware of. Not only is it about losing a vehicle and going through a traumatic experience, but there are also huge financial implications.
Not only did living costs rise in 2017 but a lot of people battled with increasing debt, struggling to make it to the end of each month. If you’re among the many South Africans who found last year challenging when it came to finances, 2018 represents an opportunity for you to step into financial freedom.
The former Portuguese colony of Mozambique, is an East African country bordered by South Africa, Tanzania, Malawi, Zimbabwe, Zambia and Swaziland. Surrounded by the warm, clear waters of the Indian ocean, travellers can explore this paradise from its white palm-tree filled beaches, its cluster of islands just off its southern and northern coastlines, or from a nearby nature reserve filled with local wildlife.
In the aftermath of a car accident, one of the first things that Car Insurance companies do before processing a claim, is pinpointing who is partially or fully to blame. The company usually takes into account the police report describing circumstances that led to the accident and the actions of the drivers involved to conclude who is responsible for damages.
Organising a honeymoon can be the last thing on a couple’s mind while planning a wedding and looking forward to the big day, but it’s important to consider it before you tie the knot. According to The Wedding Expo, couples only allocate about 10% of their wedding day budget to their honeymoon, and as wedding plans come together and the budget grows almost daily, a honeymoon can become a daunting and expensive trip to plan.
If you’re wanting to explore a slice of the Mediterranean, Croatia is the holiday destination for you. This Eastern European country is filled with a diverse and picturesque terrain, from clean white beaches and warm, strikingly blue waters, to lusciously green mountains and breathtaking lakes. With a rich history and architectural features reminiscent of the Roman era, this island-based Mediterranean destination offers South African travellers a Mediterranean experience second to none.
More than 50 million vehicles are recalled worldwide every year due to safety-related defects or problems. In South Africa, Ford made headlines this year after issuing a safety alert for its 1.6-litre engine Kuga models, some of which caught fire as a result of engine overheating conditions. Ford also withdrew its entry-level Figo and Ikon models mid-2017 because it has found these vehicles’ power steering high pressure hose poses a burn hazard.