Category Archives: General

saving-tips

Money saving tips – Student finance saving tips

Money saving tips – Life for old and new students alike can be fun and the temptation to spend is very high. There are various reasons put forward for this approach to finances by students but one of them is the fact that there is a lot of peer pressure within the student population. There are however certain saving tips which can assist any student make the much-needed savings.

Budget during the first weeks of the term – It’s hard to budget when you are keen to have fun, but it is worth holding off on extravagant spending early on and go out, spend and celebrate at the end of the term when you are sure the term is done.

Plan meals in advance – Fast food in restaurants will significantly impact your finances. Preparing food at home or in the hostel is a great way to save money over the week.

Capitalise on student discounts – Being a student opens doors to a great amount of discounts. These discounts are also offered in forms of cards by different retailers. These can go a long way in saving finances.

Travel smarter – Traveling home, to school or visiting friends can be costly. The good news however is that there are different means of transportation which are cheap and affordable. If you have a private car, you can offer seats to paying passengers.

Dispose off items – Your old clothes and books are surprisingly very valuable. So when you are sure that a books future is to sit and gather dust, head to Amazon to trade it for a gift card. You can also rid yourself of old clothes at eBay.

Buy non-branded – There is a significant difference in prices between branded and non branded produce. Avoiding the household names can mean a hefty saving on filling the fridge, so you’d be wise to look beyond the labels.

Get paid to do stuff – Getting a job that takes a lot of your time while studying can be quite difficult but there are other less time-consuming job opportunities such as online surveys or market research focus groups which can go a long way in supplementing your finances.

The above tips should be able to help students have healthy finances at that level of life.

Financial tips for buying a house

Financial tips for buying a house

Property or housing remains the most secure investment option a family or an individual can consider. This form of investment can be done through cash transactions for those who can afford or even through finance from a financial institution.The whole process however can be very daunting for many especially first time buyers who are not sure of whats important.The factors listed below will go a long way in assisting many be aware of what matters.

Budget – Determining your price range is key before shopping around for properties. Bond or home loan originators can help you determine your budget and speed up bond process by negotiating with multiple financial institutions on your behalf. These bond originators are paid in form of commission based on the mortgage amount they secure, so you don’t incur any consulting fees.

Location – Property investment should appreciate in value as years go by, the location of the property will assist in achieving this. Factors which are very important in this regard include infrastructure, level of security and convenience to social facilities. Infrastructure refers to the basic facilities in the area such as roads, the better the infrastructure the more valuable the property. Level of security will always be of utmost importance. Social facilities include schools, shopping centres, hospitals, churches etc.

Availability – Searching for the right property which is available at the right time can be very tricky. It’s never a bad idea to use estate agents and property websites. Estate agents often have access to invaluable market information that the public might not be aware of. Online property websites allow you to narrow down your search to the finest detail and enable you to view information and photos of the property from home comfort.

Structural aspects of the property – It is always a good idea to look out for any defects and plans for alterations. Defects are the visible problems associated with the property such as wall cracks, sagging gutters, broken windows, missing tiles, geyser problems etc. These should be rectified before purchase or even analysed to determine whether they are an indication of more serious future problems. Make sure you consult the local municipality whether all buildings on the property are approved so that you don’t embark on illegal alterations after purchasing the property.

Negotiating purchase price – Always check the prices of recent property sales in the preferred area and current market conditions. Always bear in mind some of the costs associated with purchasing a property. These costs include transfer duty which is calculated according to a sliding scale based on the property value. VAT if the property is bought directly from the developer or builder. Conveyance fees which are usually added 1%-2% to the purchase price. Bond expenses which include initiation fee, legal fees, stamp duty and bond registration costs based on the value of the bond. Fees payable to the deeds office for the registration of ownership, including a levy for the registration of a bond with the deeds office.

The above tips will certainly assist any property buyer in South Africa.

Top tips on vehicle finance

Top tips on vehicle finance

Top tips on vehicle finance – The South African economy and financial markets provide different avenues for individuals to access vehicle finance. There are however certain steps and pointers one can consider before making a decision.Below are the tips

Budget : Vehicle finance is all about money. It is therefore important to consider what you can afford up front or in instalments. It is a good precaution to include the increased cost of insurance and upkeep. Certain vehicles cost more to maintain and insure than others.

Research: The internet is one of the most effective places to find out information about potential finance and vehicles. The more you know the better equiped you are to negotiate price.

Do comparative shopping: Get quotes from dealers in your area and from surrounding cities or towns. Not only could you save money by visiting another town but you could drive down local prices if you have a quote in hand.

Choosing a vehicle: There are many different vehicles on the market today. If you are not sure, ask around. When you see a car you are not interested in ask people about their experience with that vehicle. By doing this, you will get a general picture of the vehicle in question.

Compare interest rates: Talk to your bank, research online and consider the vehicle finance options from the dealership, then choose the one that offers you the lowest interest rates and the best terms.

Negotiate everything: Try to negotiate every detail of the deal face to face. Avoid telephonic negotiations as these could be denied later.

Test drive: Test driving is a must. Dont test drive the vehicle on the small side streets in town, take it to the highway where you can get it up to the legal limit. Used cars will sometimes not show their true colours until you have brought them up to good speed.

Warranties: A new car should come with a warranty. Take time to closely examine the warranty and the cost of extending it against potential repairs, including the ones not covered.

Black and White: Anything and everything you agree upon with your vehicle finance should be in writing and signed by all parties concerned.

Standard banks society scheme

Standard banks society scheme

Modern day societies are full of diverse groups of money schemes such as stokvels, burial societies, social clubs and even investment clubs. These money schemes allow groups of people to save money together. In order to tap into this fast growing culture, Standard bank introduced the Society Scheme.

The Society Scheme is a book based account tailored for groups of people who would like to save money together. It is recommended that prospective groups of people have a constitution and all transactions should be branch based. Key features and benefits of this account include the fact that members generally earn higher interest on their savings through the group than they would have with individual savings accounts, the group can decide to move some or all of the society scheme balance into investment products like fixed deposits and notice deposits from time to time, society schemes are automatically entered into a monthly savers draw for every R5,000 kept in the account up to a maximum of 20 entries per account.

Other features and benefits include the fact that all cash and cheque deposits are free and your group enjoys two free cash withdraws and two free cheque withdraws per month, accounts with monthly balances kept at R5,000 or more are not charged the monthly service fee and enjoy two further free debit transactions per month and all withdrawing instructions must be signed by at least two signatories to protect the rest of the group against misappropriation.

The qualifying requirements for this account are that the group must have at least five members and three or four members must be selected to act as account signatories on behalf of the group. Members must be South African citizens aged 18 or older, have valid identity documents and make a minimum account opening deposit of R500.

Standard bank can be contacted on 0112994701.

investment tips

Investment tips and mistakes to avoid

Investment is quite a buzz word in today’s society and especially in the financial sector.While investing is a very intelligent and exciting step to take, not many prospective investors are equipped with the right knowledge which can assist them to avoid pitfalls associated with investing. Below are a few tips which will assist would be investors:

Don’t invest without a plan – Good investment takes having a methodical and well written investment plan. Never invest on rumours, hot tips, stories, conjecture, predictions or an expectation the market will go up. None of these approaches qualifies as a plan despite their widespread use and popular appeal.

Invest in your financial education – Investing is both an art and a science. The art factor comes in because human beings are emotional beings whose decisions are quite often affected by values, moods, greed, fear etc. Investing is also scientific because it includes provable scientific principles like diversification, asset allocation, valuation, probability etc. It is therefore important to develop financial intelligence skills and knowledge so that you can strike a balance between the art and science of investing.

Always diversify – It is important to diversify investments but this must be done in such a way that new assets added have a different risk profile. The goal when diversifying should be to add independent and sometimes opposing sources of return. This can lower portfolio risk and increase overall return.

Don’t pick stocks but focus on asset allocation – An investor must avoid spending too much time on decisions which make little difference in overall performance. Instead spend your limited time and resources determining your correct allocation to asset classes and strategies.

Match investment style with personal goals – In investing, one size does not fit all. One therefore must find a path that will honor personal goals, values and risk tolerances so that there is fulfilment in achieving financial success. The journey to financial freedom is about discovering what size will uniquely fit you.

Beware of low liquidity – A liquid investment is something that can readily be converted into cash and an illiquid investment is something with barriers that keep it from being converted to cash. An investor should never make a mistake of accepting low liquidity unless the potential reward is so great as to merit the additional risk.

The above tips should surely go a long way in making the difference between wealth and poverty through investment decisions.

Medical loans

Medifin financial services, providing healthcare loans

Healthcare is something that mankind can’t do without. Health matters are also challenges which are most of the time unforeseen which puts enormous pressure on finances to seek quality medical care. The solution for many individuals and families is to get medical plan in place to reduce the financial burden in moments of need. One organisation assisting many in this regard is Medifin financial services.

Medifin was established about 20 years ago with a vision of providing medical finance for many South Africans and assist them to proceed with their desired, if not critical medical procedures without being held back. The medical loan product was launched in 2012, to-date this product has reached over 1500 medical and dental practices with over 800 practices being serviced on a regular basis. Medifin provides clients with the means to have the cosmetic or elective surgery they desire at affordable rates and terms accompanied by great customer service.

Clients seeking this finance simply have to consult the doctor and know when and how much the procedure will cost, apply for finance, Medifin then does a quick credit check and affordability assessment with clients consent and then issue a quote and an agreement. Other qualification requirements include copy of ID, proof of residence, proof of income by way of showing the most recent pay slip and three months bank statements.

Medifin can be contacted on 0861000808.

Branson centre of entrepreneurship, propelling small businesses

Richard Branson is a self-made billionaire and a business magnet. He is famously known around the world as the founder of the Virgin Group which comprises of more than 400 companies. Perhaps what makes Richard Branson an admirable business figure is not his estimated $4.6 billion net worth but rather his entrepreneur ability to build a business empire from the bottom. Arising out of a strong desire to share his business experiences and assisting in building a new generation of entrepreneurs, the Ricard Branson centre of entrepreneurship was launched in South Africa.

The Branson centre of entrepreneurship is a premier global leadership initiative which is partly funded by Virgin Unite and other investors. The vision behind this initiative is to ensure entrepreneurs are united to tackle tough social and environmental problems in an entrepreneur way. The initiative is of significant importance in a country like South Africa where the economy depends on a thriving micro business sector to create economic growth and jobs.

This centre offers financing opportunities to enable business growth, opportunities to meet some of the biggest names in business, practical business skills training including finance, people management, legal and IT, networking opportunities, mentors to share their good and bad business experiences, access to accountants or lawyers to ensure businesses are protected and enjoy the expertise and support of the Virgin Group.

The Branson centre of entrepreneurship can be contacted on 0114030613.

Pick n Pay small business incubator

Small business incubator – Pick n Pay was established in 1967 with a vision of being a leading retail store. Today Pick n Pay is rated as the second largest supermarket chain store in South Africa with a strong and extended business footprint in other countries around Southern Africa in countries such as Zambia, Botswana, Namibia, Mozambique, Angola etc. While the existence of this giant brand has mostly been focused on retailing, the many years of experience gained has allowed Pick n Pay to be well positioned to assist in building other businesses in the micro sector. The end product of this desire has been the creation of the small business incubator.

The small business incubator is a dedicated division that is focused on encouraging and assisting small black businesses in becoming sustainable suppliers to the retail industry. Through this innovative incubator, emerging companies are assisted. This is achieved by providing mentorship at all levels of the business process. Mentorship skills provided include health, safety, hygiene, ethical employment and accounting practices, marketing principles, buying and negotiating techniques and other life skills.

Closely tied to the work of the incubator is the enterprise development foundation and the transformation department. Enterprise development foundation addresses financial challenges that organisations may face to ensure they remain long-term suppliers to the industry. Transformation department looks into growth opportunities for new BEE suppliers and going the extra mile by making sure all Pick n Pay buyers across the country introduce new BEE suppliers to their category.

The Pick n Pay business incubator is poised to drive business growth in South Africa.

Absa Pebble, a mobile payment innovation

Absa is a South African financial and banking institution driven by innovation and providing simplistic services. One product offering bearing testimony to Absa business position and pedigree is Pebble. Payment Pebble is an innovative, high-tech device with unique safety features  which facilitate convenient and mobile payment acceptance.

This product has been tailored especially for small, medium and large business owners because it gives them the ability to accept MasterCard and Visa debit or credit card payments at anytime and anywhere through a smart phone or tablet.

The Pebble gives the user lots of flexibility because its compact and mobile which means it can be plugged into the audio jack of the compatible smart phone or tablet and once set up, it allows for immediate transaction.This convenience in transaction can happen on the roadside, at the market or even in the customer’s home. For clients who may not have a smart phone or tablet, the Pebble bundles provides the option of getting an Absa Business Cheque Account, a smart phone or tablet device and a Telkom Business Mobile contract. The pricing structure for this product is divided into Absa banking customer and Non-Absa banking customer.

The Absa banking customer monthly rental is at R50 excluding VAT for the first 12 months and R20 excluding VAT thereafter no swap outs allowed. Once off initiation fee payment pebble order at R160 excluding VAT for the first Payment Pebble and R30 excluding VAT for each payment Pebble thereafter. There is also free swap out, once off initiation fee will be charged for each swap out. Merchant services fees across all card types is at 3.20%.

Non Absa banking customer pays a monthly rental of R50 excluding VAT for the first 12 months and R20 excluding VAT, thereafter no swap outs allowed. Once off initiation fee per payment pebble order which is at R160 excluding VAT for the first payment pebble and R30 excluding VAT for each payment pebble thereafter. Replacing and returning old payment pebble involves free swap and once off initiation fee will be charged for each swap out. Merchant fees in this category across all card types is at 3.75%.

To access this product, Absa can be contacted on 0860111222.

Debt consolidation tips

Debt consolidation is a phenomenon which has swept through financial markets for a while now. This credit management system allows individuals who are financially distressed due to debt or even at risk to have a better way of managing debt. Debt consolidation allows one to seek a loan from a financial institution which pays off various credit accounts leaving the individual with only one debt account to service.

This plan offers clients a number of benefits such as going from having numerous creditors and credit agreements, with various terms, interest rates and monthly fees to one loan with one creditor and being liable for one monthly fee. Consolidation loans also quite often offer lower overall average interest rate over a longer loan term which results in lower monthly debt repayment.

It is however important to highlight that debt consolidation loans have their own negatives. Customers should understand that consolidation is a short-term fix, not a life time solution. In a layman’s language, it’s more like putting a plaster on a serious wound. While debt consolidation loans extend the repayment period, it simply means the debt is being extended to a longer period of time which results in paying much more interest on that debt.

It therefore means that reaping the benefits requires financial discipline. It requires the adoption of better spending behavior to avoid falling into the same spending patterns which created the initial over-indebtedness. Debt consolidation loans should be used to save on interest and not to reduce your longer term monthly debt repayments.

Customers should also go through a brief checklist to ensure debt consolidation loan enables them to settle all debts, it reduces overall average interest rate, it reduces monthly repayment, the credit life insurance on the loan should cover death, disability and retrenchment.

The negatives of debt consolidation  can be drastically minimised if matched by disciplined spending habits and prudent financial management.

Investec personal finance products

Investec is an international specialist banking and asset management group which was established in 1974. With current listings on the London Stock Exchange and the Johannesburg Stock Exchange, this financial institution has established a stable business presence in the United Kingdom, South Africa and Australia providing a range of products and services to a diverse clientele. Investecs personal finance products and services include asset finance, motor vehicle finance, personal loans, professional practice and equipment finance as well as specialised finance.

Asset finance are loans secured against unusual assets. This kind of finance is offered for purchases such as plant, office and professional practice equipment, property, motor vehicles and lifestyle assets. Payment plans for this credit have been structured in order to maximise the client’s tax and cash flow benefits.

Under the motor vehicle finance, clients are offered financing options such as instalment sales with negotiable residual options, structured payment plans to minimise tax and maximise cash flow, flexible deposit and withdrawal of funds to help reduce repayments and save interest. It also comes with an online viewing facility and there is the possibility of earning up to 200,000 Investec dividend points if the motor vehicle is sourced through McCarthy.

Personal loans are offered by leveraging on the existing asset base. These secured loan packages use existing assets such as trading and non-trading share portfolios, unit trusts, investment products, cash investments, property and investment policies as collateral, giving  clients the resources they need to build wealth.

The setting up of a strong business practice foundation is one of the business areas Investec is concerned with. This is the reason why this finance is provided for setting up, buying into or equipping a business practice. Finance products offered here include transactional banking, private business account through to practice asset finance.

Specialised finance has been created for specialised financing needs such as diversification of investment interests or even maximising liquidity in complex financial transactions. These specialised finance services include the acquisition and funding of commercial property and aircraft, the acquisition and funding of private business enterprises and the funding of private holdings in listed companies.

Investec has set up customer friendly financing rates. These rates are the prime lending rate at 9.00%, Investec mortgage bond rate at 9.00% and Investec private bank Jibar linked lending base rate.

This financial institution can be contacted on 0112869663 or 0860110161.

Pepkor, the retail investors

It is a proven fact that a vibrant retail sector has tremendous impact on the economy. Retail stores play a critical role in the supply chain by providing a range of goods and services efficiently. Retail stores also supply useful information across the supply chain to consumers and manufacturers. Retailers supply information to consumers through advertising and other displays while market research information gathered assist manufacturers to gain insight into consumer requirements and trends. The retail sector also provides employment to millions of citizens. It is this sort of highlighted importance which led to the establishment of Pepkor.

Pepkor  was established in 1965 as an investment holding company with retail interests. Today, Pepkor has interests in more than 3400 stores and employs close to 32000 people. Pepkor as a retailer focussed on growth manages a portfolio of retail chains with special focus on the value market.

The impact and the contribution of this business house on the retail sector has been anchored around a list of priorities such as making strategic acquisitions and investments in profitable market segments, leveraging the groups expertise and knowledge base to achieve best practice, enhancing the supply chain by optimising sourcing synergies, increasing profitability by exploiting the benefits of size and growing the network of stores to leverage scale and core competencies.

Retail investment from Pepkor can indeed be counted on. Pepkor can be contacted on 0219294800.

Ombudsman South Africa – Tax

Ombudsman South Africa. Tax is a financial charge or levy imposed upon a taxpayer  by the state. The ramifications or consequences of not complying with legal tax obligations as an individual or even institution can be severe. Tax authorities have been empowered by law to impose heavy sanctions if need be and in worst case scenarios even institute court proceedings which can result into imprisonment for those found guilty. In a huge and complex economic structure like the South African one, It is not surprising that a good number of tax payer complaints are recorded and sometimes not even resolved by the South African Revenue Service (SARS). In a bid to provide an alternative in resolving these complaints from taxpayers, the tax ombudsman’s office was established.

The South African tax ombudsman’s office has been created  to handle tax related complaints which can not be resolved through the governments internal system. This office is expected to provide simple remedy for taxpayers who have legitimate complaints that relate to administrative matters, poor service or the failure by SARS to observe taxpayer rights. While the tax ombudsman is not expected to review legislation or tax policy, the office will review complaints and if necessary resolve them through mediation or conciliation with SARS officials.

The tax ombudsman will indeed provide taxpayers a fair hearing.
Tax Ombudsman

Foschini account, providing wide retail credit

The Foschini group (TGF) has been a towering retail brand in South Africa for many years. TGF is composed of  @home, @home living space, American Swiss, Charles and Keith, Donna-Claire, Duesouth, Exact, Fabiani, Fashion Express, Foschini, G star Raw, Hi, Luella, Markham, Mat and May, Sportscene, Sterns and Totalsports store. This retail chain has been associated with trendy fashion and enjoys the support of millions of customers .

With such a strong business presence, it’s not surprising that Foschini launched a credit account for its esteemed clients. The TGF account allows clients to get credit and spend at over 2,000 stores across 18 retail brands. Opening of this account is free and clients who sign up for a 6 months plan don’t pay any interest. For those on a 12, 18 and 24 month payment plan, interest on any balance will be charged. This account also grants customers access to statements which can be emailed or posted upon request. For clients who choose to use the account for lay-by purposes, you will pay a deposit of ten percent of the total value of the goods on opening of the lay-by facility. Customers are however required to make a minimum of one payment every month until the goods are paid for in full.

The Foschini account is indeed a must have retail credit account. Foschini group can be contacted on 0860576576.

My Budget Book App – Managing your income and expenses

My Budget Book app is an innovative platform which is helping millions of people manage finances better. My Budget Book app allows users to have long-term overview of accounts thereby making it easier to keep track of income and expenses. This app comes with unique benefits such as meaningful statistics based on individually selected criteria, importing bank data and the ability to print data from the app or transfer it to other programmes. The Apple Budget book comes with certain specifications which are categorised as general, accounts, transactions, budgeting, reports, export and import.

The general specifications include password protection via pin code, back up your encrypted data in the iCloud, transferring all your data via iCloud to another iOS device, export and import encrypted back-up files via iTunes, starting of the financial month on any date and extensive user settings.

Accounts specifications include unlimited number of accounts such as credit card, current account, savings account etc, there is also support for different currencies and it allows for defining of starting account balance.

The transaction specifications offered by this app are identity entries which are marked or cleared, repeating entries, managing of freely editable templates, organising of entries based on freely editable main and sub-categories, entries auto-complete and expenses and transactions between different accounts.

Budgeting specifications offered include overspending warning, carrying over of the remaining amount from the previous time period, incorporating income, expenses and transfers, entries are automatically linked to the right budget, flexibility which allows for easy configuration and also the creation of one-off budgets for any period of time.

Reports incorporate comprehensive statistics and charts both monthly and daily overviews available (including carry-over from following months), extensive search and filter options and print all data directly from the app via airprint.

The importing specification allows for importing of bank statements from a CSV file. Export features facilitate editable export of files to the following target formats: Excel/Numbers, CSV and HTML and access the exported file via iTunes or via e-mail.

With My Budget Book app, Apple is indeed breaking new ground.

Mr Price Money, trusted retail financial services provider

Mr Price is one of South Africa’s oldest retail outlets. Established in 1885 and listed on Johannesburg Securities Exchange since 1952, this retail house has expanded with stores located in South Africa, Namibia, Botswana, Kenya, Tanzania, Malawi etc. Mr Price Money has not only planted shopping outlets but they have become a reliable financial services provider offering insurance and airtime products for valued account holders. Mr Price offers lost card protection plan, 360 protection plan and A2B commuter personal accident plan.

The lost card protection plan protects clients against the fraudulent use of the Mr Price money card up to R15,000. For Just three rands per month our Lost Card Protection Plan covers you against the fraudulent use of your Mr Pricemoney card once it is reported lost or stolen. R300  will be credited to your Mr Pricemoney card to replace personal effects like your handbag, wallet or purse in the event that they are lost or stolen at the same time as your Mr Pricemoney card. R250 will be paid directly to you to cover the cost of replacing your driver’s license and ID Book in the event that they are lost or stolen at the same time as your Mr Pricemoney card. With a push of a button from your cell phone our Mobile trauma alert will contact five of your family members in the event that you are in an emergency situation.

For only R36 per month, the 360 degree protection plan will provide you with R10,000 cover in the event of retrenchment or death should you be diagnosed with certain critical illnesses and be hospitalised for 14 or more consecutive days. The A2B commuter personal accident plan offers R75,000 accidental injury cover, R50,000 accidental death cover with only R37 charged to a clients account.

Mr Price is definitely a retail outlet concerned about clients financial welfare. Mr Price Money can be contacted on 0861066639.

mr price money

Credit amnesty bill South Africa, legally relieving the debt burden

Credit Amnesty Bill. South Africa has one of the most indebted citizenry. These high levels of indebtedness have been partly attributed to increasing establishment of credit institutions and easy access to loans. Current statistics show that up to 17.6 million South Africans are indebted, of which 7.5 million have bad debt. While a lot of debt counselling initiatives have been opened up to help and protect over indebted people pay creditors and avoid legal action, this has not drastically helped the situation. In an effort to mitigate the situation, the South African government passed the National Credit Amendment Bill which allows the office of the Minister of Trade and Industry to order the removal of all adverse information from credit records.

Adverse classifications of consumer behaviour are subjective classifications of consumer behaviour and include classifications such as delinquent, default, slow paying, absconded or not contactable. Adverse classifications of enforcement action, which are classifications related to enforcement action taken by the credit provider include classifications such as handed over for collection or recovery, legal action or write off.

This development will grant the indebted consumers the much-needed breathing space. It is however important for consumers to note that this act does not mean your credit record will have no record of any payments you have missed. The payment profile information which shows when you paid your monthly instalment and when you missed making payments will remain unchanged.

The benefit however is that all subjective and enforcement type listings such as slow payer, absconded, handed over, card revoked and written, will be removed even if the one to two-year data retention which is the time the listing remains on your credit record has not expired.

This Notice comes into effect on 1 April 2014 and credit bureaus must remove all such information within two (2) months, i.e. April and May 2014. Therefore effective from 1 April 2014 credit bureaus are prohibited from displaying or providing information that ought to be removed in terms of this Notice to anyone. The credit bureaus must within thirty (30) days after May 2014 submit a report by an independent auditor confirming that all such information has been removed.

The credit amnesty in South Africa will indeed remove barriers to credit and assist those consumers who can afford credit to access it.

Credit amnesty

Investments

Momentum Investments, the trusted partner

Momentum has distinguished itself as a reliable financial institution which is mainly concerned with the financial wellness of South Africans. Momentum has dedicated itself to the provision of products and services which assist clients fulfil lifelong financial needs within their budgets and individual circumstances. One of the ways in which it has cultivated this financial wellness culture is by allowing responsible and stress free investing.
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Absa franchise finance, facilitating business loans

The provision of suitable finance to the South African business entrepreneurship sector has remained as one of Absa’s strongest passions. With many years of experience in the financial and banking industry, Absa understands that a healthy and thriving micro business sector has the potential to spur a community or country towards great economic milestones. In South Africa, small and micro enterprises contribute between 27% and 34% of the country’s gross domestic product (GDP). A bulk of these micro enterprises are run as franchise businesses.
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Retail capital, small business loans

Funding for small business. Retail capital is the brand that the business community have come to know and appreciate. Established in January 2011, Retail capital was formed to provide small businesses with an accessible, flexible and convenient alternative to traditional small business loans.

The motivation behind retail capital is the significant role played by small businesses in job creation and promoting economic growth. Research information in South Africa has shown that 65% of the country’s employment and 50% of the country’s GDP comes from the small business sector. Research has also shown that one of the biggest challenges of running a business is cash flow.

The cash flow challenge is what brought Retail Capital on the scene. The Retail Capital cash advance is accessible,flexible and convenient. This advance does not require security and there are no restrictions on the use of the funds which are made available within 10 days. Whether you want to grow your business, take advantage of an opportunity, upgrade or fix equipment or simply need cash flow support through a difficult trading period, Retail Capital provides that financial assistance.

The Retail Capital cash advance is provided based on your business’s average cash turnover, then the total amount to be paid over is agreed and calculated as a fixed percentage, the advance is paid into a clients bank account, each day the client is obliged to pay over the agreed percentage until the full amount is reached.

With Retail Capital, Accessing capital has become easy. Retail Capital can be contacted on 0217029900.

Funding for small business

Hollard investment options

Hollard is an authorised financial services provider and a member of the South African Insurance Association and the Association for savings and investments South Africa. Based on a rich history and a sound track record, Hollards core objective is to give clients a range of carefully crafted investment opportunities that deliver consistent performance at competitive rates.

Hollard offers clients investment options which allow them to secure an investment income, protect investment capital and save for the long-term but still have access to funds in a tax efficient way. The Hollard range of investments include private wealth portfolio, guaranteed endowment, guaranteed income plan, unit trust funds and guaranteed income.

The Hollard private wealth portfolio helps clients save towards long-term goals by supporting disciplined investing while giving unlimited flexibility to change your investment particulars. The guaranteed endowment products offer tax advantages and a safe way to invest. The Hollard guaranteed income is made up of two policies, an endowment policy provides a return of the premium after a five-year period and a temporary life annuity policy provides a five-year fixed monthly income. The Hollard prime unit trust funds allow clients to diversify the risk in the long-term while growing the money and enjoying flexibility and fund choices which suit needs. The guaranteed income is made up of two policies, an endowment policy which provides a return of the premium after a five-year period and a temporary life annuity policy which provides a five-year fixed monthly income.

Hollard is indeed positively impacting many people’s investment plans. Hollard can be contacted on 0113515000.

Credit Health, professional debt services

Professional debt services – Credit history and worthiness is a big factor in a well-managed economic system like South Africa. A bad or good credit report can be the difference between obtaining credit or not from many financial institutions. It is for this reason that Credit Health South Africa came on the scene.

Credit Health assists thousands of clients in understanding their credit record and credit health. This process involves empowering consumers with information and knowledge of personal credit information through a well prepared and comprehensive 3 in 1 credit report. This report contains such critical information like credit scores, credit history and default information.The credit report contains information from Transunion, XDS, Experian and Compuscan for the Credit Health Complete which allows clients to gain access to information that is held by the leading credit bureaus in South Africa. So by having this report, clients get to find out what potential credit providers are seeing when assessing credit records.

Apart from the credit health complete which has complete current credit information, their clients can also use debt negotiation service which helps consumers save by up to 30% off the settlement of overdue accounts, the score product unlocks the numbers behind your score.

Credit Health can indeed be counted on for accurate and helpful credit information products. This institution can be contacted on 0861200201.

Credit Health