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 it comes to debt, there is the misconception that all debt is bad.
Not many people understand the concept of “Good Debt” vs “Bad Debt”. Continue reading
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
At certain times of the year, we as consumers are encouraged to spend money. The festive season in December is by far the biggest financial drain. Then January rolls around, and if you have kids, you are met by all the ‘back to school’ expenses. Next, Valentine’s Day arrives, and before you know it you’re buying Easter eggs!
During these times, we are prone to Reckless Spending, often on a credit card. We all know the symptoms: The holidays and special events come, causing us to reach for our credit cards more often than we should. We end up swiping, sometimes without even keeping track of how much we’ve spent.
When was the last time you reviewed your nominated beneficiaries? This is one of those things that we don’t really give much thought to.
Certain life events such as marriage, or the birth of a child, often come and go without us giving any thought to who would benefit from our Financial Planning. Forgetting to update a policy or plan could unintentionally create hardship for your loved ones.
Have you ever considered giving yourself an annual gift?
Or maybe a monthly one (on a smaller scale)?
I have a relative who has a very limited budget, but once a month when she achieves her goal, she treats herself by driving to the beach and ordering the biggest ice cream cone she can find. She savours every mouthful while listening to her favorite Gospel singers. If she feels really good, she will even sing along with the noisy gulls while they beg for food. Two slices of bread encourage them to stay close by.
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
Earlier this year, we welcomed two new students from CPUT into the Northwood FinancialServices cc family.
This is Ayanda Shenzane’s recap of his internship thus far.
– – – Continue reading
Members in the financial planning and advisory industry have two different means of earning an income.
The industry standard – appropriated by most financial planners – is a commission-based model. With this, the financial consultant meets with the client, assesses the client’s needs requirement and then suggests and sells various policies to them. As the financial consultant works on a commission-based model, they will not earn an income in the event that no sale is made on behalf of the client. With this, there is a more aggressive approach to the selling of policies, and more often than not, the client will be heavily encouraged to buy a policy.