An Emergency Fund, as the name suggests, is used to cover any expense that you haven’t budgeted for. Such as car or home repairs, holiday spending money, a deposit on your next property or even retrenchment. Continue reading
For instance, if a short-term insurer promises the cheapest rates for cover, clients could be tempted to sign up without realising why their premiums are lower. Continue reading
In our country, financial planning is seen as gender neutral. The reality is that men and women are often not on an equal playing field and this approach can have serious consequences.
Generally, women live longer than men. This means the effects of inflation have a bigger impact on their retirement income, which is particularly concerning because women do not always earn the same as their male counterparts, which effects the amount of savings they are able to accumulate. Continue reading
Many first-generation yuppies have come to realise that they need to enter the property market. However, most of them find that getting a home-loan of between R1 500 000 and R2 000 000 is not always possible.
The creative ones usually find a way around this dilemma by purchasing a home in the R300 000 to R700 000 price range. The home is then used to generate a rental income. The rental is often sufficient to cover their bond repayments. This leaves many of them happy landlords.
Most women take on the role of caretaker in their family unit. This makes them more inclined to tend to everyone else and their needs first. Often to the detriment of their own.
One area that sees the most neglect is financial planning. When analysing a married couple’s Financial Needs (FNA), a good financial planner will work on the assumption that the marriage will end, whether because of death or divorce. Both these outcomes must be taken into consideration. Unfortunately, the female often comes off as second best. Continue reading
At Northwood financial services we have a panel of dedicated professionals that assist us and our clients with a host of different issues.
Recently I received an email from a home-owner. Having sold his property, he is now struggling to get occupational rental from the buyer who had taken early occupation. In this instance, it is much harder to help. Continue reading
Ever since the news broke that South Africa’s credit rating was downgraded to junk status, our office has been inundated by calls and emails from concerned investors that listen to Finance 101 on CCFM.
Most of these investors have investments with insurance companies, and experienced a significant loss of their investment capital. However, investors with Passive Investments reported the highest losses.
When you make an Off-Plan purchase, you are essentially buying a home that does not yet exist. There are quite a few details which need to be verified before you decide to go ahead. Continue reading
Store Branded Credit Card
A large SA supermarket is about to launch a Store Branded Credit Card.
Existing loyalty card holders are contacted by telephone, and after a short telephone call are invited to apply for a Credit Card. Sounds like a good deal! So why am I nervous?
Clients are often confused by the various grand job titles used by consultants. Here is a simple explanation of who is who in the zoo.
1. Does their business card display an insurance company logo?
If YES, they represent a single company and the product they sell comes from their employer. Continue reading