Insurance: How to Value Contents Carried on Your Person

personal-insurance-itemsIt’s all very well insuring your household contents, but what happens to the items you carry with you, such as your wrist watch, mobile phone, laptop or tablet, MP3 player? Unfortunately, in the world we live in today, we need to insure the items that we carry on our person, as well as those we have in our homes, in case of theft or loss. Continue reading

How to Value Your Home Contents

household-insuranceInsuring your household possessions and valuables is vital in this day and age, particularly if you have certain items of value such as original artworks, antiques or expensive jewellery. However, it is crucial that you evaluate the contents of your home and your possessions correctly. If you fall short and underestimate your contents – you risk an insurance shortfall – overestimate the value of your possessions and you end up paying excessive premiums. Taking that extra time upfront to evaluate the contents of your home and your valuable possessions correctly and honestly reduces the chance that you may come a cropper in the long run! Continue reading

How to Value Your Home for Insurance Purposes

house-insurance-policyYour house is in all likelihood your most valuable asset, so it is vital that you have sufficient coverage for your property in terms of insurance. A comprehensive short-term insurance policy can be taken out to protect both the value of your entire home structure, as well as its contents against unforeseen circumstances, such as fire or flooding. Depending on the age and condition of your home, and where you live, the cost of insuring your house can vary significantly, just as under insuring your home could have drastic consequences should it burn down. Continue reading

Why You Should Always Read the Small Print

Small print - NorthwoodAlways read the small print” – it’s a steadfast rule most of us know, yet choose to ignore. Some have learnt the hard way, signing up to online services, buying goods and services or insurance, only to get a nasty surprise because the small print wasn’t checked.

In today’s world, it seems that every clothing store, bank and food chain offers some form of rewards card that awards the buyer ‘points’ every time they use the store’s services.  It then follows that these points, once they have accumulated to an acceptable level, can be used for discounts on future purchases or can even be traded in directly for cash.  Almost seems too good to be true, right? Continue reading

The Importance of Knowing Your Customer

Deciding clients - NorthwoodFor any small or medium sized enterprise, it’s more than likely that the relationship between any given business and the client will be one of a personal nature.  Bearing this in mind, it should become immediately obvious that knowing your individual client’s wants and needs could represent a significant advantage in making consistent sales.  However, as any person who has gone to a party alone will know, forcing yourself to make friends with a stranger can be hard, uncomfortable and time-consuming work. So, as an entrepreneur, how can you tell which clients are worth your time and which are likely to sail off into the sunset never to be seen again? Continue reading

How Being Different Can Make the Difference

be-different-entrepreneurConsider the likes of Bill Gates and Mark Zuckerberg, they are both rich, successful and, most importantly, fundamentally different from everybody else.

There’s a very good reason why the weird geeky kids in high schools across the world often go on to make a fortune: namely because it pays to be different. Think about it, in today’s world, even if you are one in a million, there are statistically 7000 people exactly like you.

The exact same principle applies through to running a small business. So, as an entrepreneur, how can you banish the generic business practices employed by most of your competitors and ultimately reap the rewards that come with offering something unique? Continue reading

Travel Allowance Recipients

Travel-allowancePaying taxes is an activity done by all but enjoyed by no one and it’s therefore no wonder that people are constantly trying to find legal methods to pay less tax.

However, when it comes to saving your hard earned money from the taxman, one really needs to look no further than travel allowances.  Many employees use their own personal vehicles to carry out business related tasks on a day-to-day basis and the scarily exciting thing is that it is perfectly legal to claim an allowance on this expense!  However, there are some finer details to be processed before one becomes eligible for this tax saving method: Continue reading

New Tax Free Investments Announced

Tax-free-investments-NorthwoodLately, the South African government has been looking to address the prevalent problem in our society of both individuals and households simply refusing to save a large enough portion of their income.  The government’s solution to this problem?  New tax free investments made available to all!

Why is Saving Important?

It can be very tempting to go out and spend all your money as soon as you receive it but there is no denying that this strategy will have disastrous consequences in the long run. Continue reading

Important Announcement from Allan Gray Equity Fund Unit Trusts

Equity-Fund-changes-NorthwoodWhen an important financial player such as Allan Gray announces a sweeping policy change to their Equity Fund unit trusts, it is usually a good idea to pay attention.  So what are these changes?  And furthermore, why have these changes been made?

Offshore

The primary change to concern yourself with if you’re an investor in Allan Gray’s Equity Fund is the decision taken by the financial firm to invest a greater percentage of their funds offshore.  But Why? And is this a good thing? Continue reading

Introducing the Retail Distribution Review

financial-advisorThe full implementation of the much-anticipated Retail Distribution Review (RDR) paper, released by the Financial Services Board (FSB), is expected in mid 2016, and the FSB has been collating comments from industry since the paper’s release.

The study was built on the foundation of the (Financial Advisory and Intermediary Services) FAIS Act, which promoted greater industry professionalism, and is informed by Treating Customers Fairly (TCF).  The aim is to reduce the negative associations customers have about the financial advice process and have greater transparency all round.  Customers need to know what’s on offer and trust the advice process is about serving their needs, not just the industry and its representatives. Continue reading