How to budget

Are you uncertain what a budget is or how to set one up. Download Debtsafe's budget template at: http://www.debtsafe.co.za/free-debtsafe-budget-template/ 

Remember that your budget is a valuable tool on the road to financial freedom and independence. 

Tax amendments addressing the low levels of household savings in South Africa

SINCE government wishes to address the low level of household savings in South Africa and SINCE government is desirous of allowing providers of financial products to market financial products in a manner that creates a partnership between government and those providers of financial products to encourage household savings, the following legislation has accepted:

Section 12T of the Income Tax, 1962, and regulations are enacted to enable providers of financial products to provide financial products that are simple to understand; that are offered in a transparent manner; carry fees and charges that are reasonable; and that are suitable for those persons who are not necessarily expert investors.

 

For the regulations on tax free investments see: http://www.gov.za/sites/www.gov.za/files/38509_rg10372_gon172_0.pdf

Reckless lending continues in South Africa

Then percentage of consumers with adverse credit bureau listings increased with 48% in the last quarter of 2014.

For a recent report on reckless credit lending in SA and for recent statistics see the following article published by Angelique Arde: http://iolmobile.co.za/#!/article/reckless-lending-continues-unabated-1.1818082

Draft affordability assessment criteria

As part of its plan to curb reckless credit lending the South African Department of Trade and Industry is working on a set of affordability assessment criteria to be published as regulations under the NCA. That is because credit providers must, before granting credit, conduct an affordability assessment.

See the following links for more information on the draft affordability assessment regulations: 

• http://www.sanews.gov.za/south-africa/dti-publishes-draft-affordability-assessment-regulations; 
• https://www.kpmg.com/ZA/en/IssuesAndInsights/ArticlesPublications/Financial-Services/Documents/Draft%20National%20Credit%20Regulations%20for%20Affordability%20Assessment.pdf/. 

Your rights on attached debt

Do you want to know how an emolument attachment order works? Read this explanation published on Moneyweb's website: http://www.moneyweb.co.za/moneyweb-financial/your-rights-on-attached-debt.

Solidariteit Finansiële Dienste se finansiële wenke vir 2015

http://maroelamedia.co.za/blog/goeiegoed/wenke-vir-persoonlike-finansiele-bestuur-in-2015/

Tips for distressed home owners

Remax (South Africa) recently published the following tips for distressed home owners: http://blog.remax.co.za/news/distressed-homeowners-there-are-options/