Blog onPersonal Financefor South Africa
Everything you need to start saving and investing in South Africa, explained simply — retirement funds, the UIF, CODI deposit insurance, banks and credit cards. Pick a topic below and you are away.
What is a savings account and how much does it pay?
A savings account keeps your money safe and pays interest that changes over time. How the interest, the annual interest exemption and the Corporation for Deposit Insurance work — and when a savings account is enough.
Read the full article →What is compound interest and how does it work?
Compound interest is return on your return — the engine behind long-term saving. Here is the formula, how big a role time plays, and how to use the rule of 72.
Read the article →Investing in South Africa: a guide for beginners
From a savings account to unit trusts, a retirement fund and shares on the JSE — a step-by-step guide for anyone who wants to start investing in South Africa from scratch.
Read the article →What are unit trusts and mutual funds, and how do you choose?
Equity funds, balanced funds, money-market funds and bond funds — how the different types work, what the management fee means over time, and how to avoid the expensive options.
Read the article →Savings accounts, fixed deposits and bond funds compared
For money that needs to stay safe there are several routes — savings accounts, fixed deposits and bond funds. How they differ in risk, return, access and tax.
Read the article →What is the Corporation for Deposit Insurance and what does it protect?
CODI, live since April 2024, protects your money in a bank, mutual bank or co-operative bank if it fails — up to R100,000 per depositor, per bank. How it works, and how much is covered.
Read the article →Commercial bank, mutual bank or credit union: which should you choose?
Commercial banks have the widest product range and branch network, mutual banks focus on mortgages and savings, and credit unions are member-owned. How to weigh the pros and cons.
Read the article →How to choose your first bank account in South Africa
Your everyday account is the hub of your money. How to compare fees, the debit card or debit card, the app, minimum balances and online banking — and avoid the costs that slip past.
Read the article →What is a credit report and a credit score in South Africa?
When you apply for a loan, credit card or hire purchase, a credit check is done. How the credit bureaus work under the National Credit Act, what stays on your file, and how to check your own report for free.
Read the article →How credit cards work in South Africa
The grace period, the statement, the minimum payment and interest — how a credit card works step by step, and how to use it without it costing you a lot.
Read the article →The interest rate and the cost of credit: how to compare loans in South Africa
South Africa does not have a single mandated APR figure, but lenders must disclose the interest rate and all fees. How to add them up and compare loans, cards and hire purchase fairly.
Read the article →Credit card, debit card or debit card: which should you use?
A debit card and a debit card take the money straight away; a credit card gives a grace period and stronger purchase protection. How to choose for everyday spending, online and travel.
Read the article →Retirement funds and the Older Person's Grant in South Africa
South Africa has no compulsory state pension for workers. How the means-tested Older Person's Grant, workplace retirement funds, retirement annuities and the two-pot system fit together.
Read the article →Emergency fund: how much do you need?
An emergency fund of 3-6 months of expenses protects you from unexpected costs without expensive debt. South Africa has no unemployment benefit, so it matters even more. How to work out your figure and build it.
Read the article →Financial independence: how to calculate your number
Financial independence means your investment returns cover your spending. How to use the 4% rule, how much your savings rate matters, and how to account for tax, inflation and the means-tested state grant.
Read the article →How income tax, PAYE and statutory deductions work in South Africa
The rebate and tax threshold, the 18% to 45% brackets, the 1% UIF deduction and the 15% VAT you pay when you spend — an overview of what comes out of your pay.
Read the article →Buying a home in South Africa: bonds, transfer duty and First Home Finance
There is no payroll housing fund here. How a home loan ('bond') works, what transfer duty and bond costs add, and how the First Home Finance subsidy helps the gap market.
Read the article →UIF: what happens if you lose your job in South Africa
South Africa has the UIF — a contributory unemployment benefit. How UIF credits and the income replacement rate work, what severance pay you get on retrenchment, and why you still need an emergency fund.
Read the article →18 articles available · Informational content, not financial advice.