My Money My Lifestyle

What is good advice? In this episode of "Know Your Ombud," host Maya Fisher-French interviews John Simpson, the FAIS Ombud, about how his office protects consumers when financial advice goes wrong – and what you need to know to protect yourself. Real-Life Cases Simpson shares several cases that illustrate how the FAIS Ombud holds financial advisers to a much higher standard. Advisers cannot assume a client understands the product, and any critical clauses or require specific action by the client must be highlighted by the adviser: ·       Why the Ombud ordered financial advisors to pay the clients' insurance claim after failing to mention one critical insurance requirement •             An adviser is held responsible for his client having the wrong insurance for his Uber business •             Why bad tax advice meant an adviser was responsible for his client's R85 000 tax bill When Advisers Get It Right (And Wrong) The podcast doesn't just highlight adviser failures. Simpson provides a balanced perspective on what quality financial advice should look like and when consumers must take responsibility for their own decisions – particularly in high-risk areas like forex trading where up to 70% of retail investors lose money. Your Financial Rights Simpson explains how the FAIS Ombud process works:  ·       How to file a complaint if you've received poor financial advice ·       What special protections exist for vulnerable consumers ·       The limitations of the Ombud's authority and when they can't help Protect Yourself Simpson provides straightforward advice on how to verify your adviser's credentials, what questions to ask before signing any financial agreement, and the simple Google search that could save you from financial disaster. Whether you're planning for retirement, buying insurance, or considering investments, this podcast provides essential knowledge about your rights and how to protect your financial future. Listen now to arm yourself with insider information from the very authority tasked with overseeing the quality of financial advice in South Africa. If you feel let down by a financial provider, contact one of these Ombud schemes: - FAIS Ombud for financial advice disputes – faisombud.co.za - Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes – pfa.org.za - JSE Ombud: JSE-related issues – jse.co.za - National Financial Ombud Scheme (NFO) for banking, credit, and insurance – nfosa.co.za This series was created in partnership with The Ombud Council.

As we dive into July, many of us feel the familiar pang of anxiety that accompanies tax season. In our latest episode, we tackle the ins and outs of tax filing. Joined by tax expert Andre Bothma, we explore why tax can feel overwhelming and how to navigate the process with confidence. One of the key topics discussed is the concept of auto assessments introduced by SARS (South African Revenue Service). If you're employed and earning an income, you may receive an auto-assessment, a pre-filled tax return that simplifies the filing process. However, as Andre points out, just because you receive one doesn't mean you should trust it blindly. It is essential to review the details, as mistakes can lead to missed deductions or incorrect refunds. For students and freelancers, the conversation shifts to the importance of filing even if your income is small. Many young people, especially those working in creative fields or part-time jobs, may not realise that they are required to file a return, particularly if tax has been deducted from their earnings. Filing a return can lead to a refund, making it a crucial step in managing your finances. Throughout the episode, we also discuss the significance of understanding your status as a provisional taxpayer. This designation applies to those earning income without pay-as-you-earn deductions, such as rental income or freelance work. Andre emphasises the importance of being aware of deadlines and the potential penalties for late submissions, which can add unnecessary stress to an already daunting process. Moreover, we delve into the various deductions available to individuals, from retirement annuities to business expenses. Understanding what you can claim is vital in reducing your taxable income and ensuring compliance with tax laws. As we wrap up the episode, Andre provides practical advice on engaging with SARS and familiarising yourself with the e-filing system. He reassures listeners that while tax season can be intimidating, with the right knowledge and support, it can become a manageable task. If you're looking to take control of your financial future, this episode is a must-listen. Tune in to gain insights that will empower you to tackle tax season head-on and alleviate some of the anxiety surrounding personal finance.

In this episode of "Know Your Ombud," we examine the complexities of long-term insurance and the common complaints the Ombud receives. Host Maya Fisher-French chats to Sonya Marais, Senior Adjudicator for the Life Insurance Division of the National Financial Ombud (NFO), about the intricacies of insurance claims, particularly focusing on the challenges surrounding non-payment of claims and non-disclosure. Sonya explains the distinction between advice-related issues and product failures, and how these factors influence the adjudication process. Listeners will hear case studies, including an example of a driver who lost his eyesight and faced rejection of his claim due to the insurer's interpretation of disability. Sonya explains the Ombud's role in evaluating the fairness of such decisions, emphasising the importance of understanding the terms and conditions of insurance policies. The conversation also addresses the often-overlooked nuances of funeral policies and why you cannot take out funeral cover on someone who is not directly related to you. They also discuss the potential for fraud in the industry.  Join Maya and Sonya as they navigate the challenges faced by consumers in the long-term insurance landscape, reinforcing the message that the Ombud service is a free and accessible resource for those seeking resolution in their insurance disputes. Remember, understanding your rights and responsibilities is key to ensuring fair treatment in the financial services sector. If you feel let down by a financial provider, contact one of these Ombud schemes: - FAIS Ombud for financial advice disputes – faisombud.co.za - Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes – pfa.org.za - JSE Ombud: JSE-related issues – jse.co.za - National Financial Ombud Scheme (NFO) for banking, credit, and insurance – nfosa.co.za This series was created in partnership with The Ombud Council.

Welcome to the first episode of “Retirement Reimagined,” a series of conversations exploring the latest FNB Retirement Survey and what it reveals about the average South African's preparedness and attitude towards retirement. In the first episode of our series, we investigate the findings of the 2024 FNB Retirement Survey with Samukelo Zwane: Product Head, FNB Wealth and Investments and Bheki Mkhize: CEO FNB Wealth and Investments. One of the standout findings from the survey is that approximately 60% of respondents claim to have a retirement plan in place. While this figure seems promising, a deeper analysis uncovers that only 25% of these individuals have a retirement annuity, indicating a potential gap in effective retirement planning.  The survey also highlights that many people begin thinking about retirement much earlier than previous generations, with some starting as young as 27. This shift suggests a growing awareness of the importance of retirement planning among younger South Africans. However, the survey also reveals a troubling reality: only 10% of retirees can truly claim to have retired comfortably, with the majority lacking sufficient funds to cover their basic needs. This discrepancy raises critical questions about the effectiveness of current retirement strategies and the need for better financial education and advice. As we explore the attitudes of those over 60, it becomes evident that many are not fully retiring but rather seeking secondary careers or part-time work to supplement their income. This trend reflects a broader cultural shift in how we view retirement, not as a time to relax but as a phase to remain active and engaged. The episode also addresses the anxiety surrounding retirement planning. Many individuals feel overwhelmed by the complexities of saving and investing for retirement. The survey indicates that access to financial advice significantly reduces this anxiety, underscoring the importance of guidance in navigating retirement options. Looking ahead, we will continue to unpack these themes in future episodes. We will explore whether retirement planning is becoming a luxury and how rising living costs affect our ability to save for the future. Join us on this journey to better understand and prepare for retirement, ensuring that we can all look forward to a secure and fulfilling future. This podcast series was created in partnership with FNB.

In this episode of "Know Your Ombud," host Maya Fisher-French engages with Edite Teixeira-Mckinon, the lead Ombud for non-life insurance, to understand the intricacies of short-term insurance and the common complaints consumers face. This episode aims to empower listeners with essential knowledge about their rights and the processes involved in lodging complaints against insurers. Maya and Edite discuss the various types of insurance policies under the non-life umbrella, including motor vehicle, home contents, and pet insurance. They delve into the most frequent complaints, particularly those related to motor vehicle insurance, and the complexities of insured values and shortfall insurance. Edite explains how understanding policy details can be crucial in avoiding disputes and ensuring fair treatment. Listeners will hear about real cases that highlight the importance of clarity in policy terms and the challenges consumers face when claims are rejected. Edite shares insights on the prevalence of complaints regarding mechanical warranties and the impact of recent events like COVID-19 on insurance trends. The episode also addresses the concept of recklessness in driving and how it can affect insurance claims. Edite emphasises the importance of being honest and transparent when filing claims, as misrepresentation can lead to the denial of coverage. The discussion serves as a reminder that consumers must actively engage with their insurance policies to fully understand their rights and obligations. Join Maya and Edite as they navigate the world of short-term insurance, providing listeners with valuable tips on how to protect themselves and ensure they receive the coverage they expect. Remember, the Ombud service is free and accessible, so don't hesitate to reach out if you feel you've been treated unfairly! If you feel let down by a financial service provider, you can contact the appropriate ombud scheme via the links below: Ombud for Financial Services Providers (FAIS Ombud): Disputes related to financial advice Office of the Pension Funds Adjudicator (OPFA): Disputes related to pension funds JSE Ombud: Disputes related to the JSE National Financial Ombud Scheme (NFO): Disputes related to banking, credit, and insurance This podcast series was created in partnership with The Ombud Council.

In the first episode of the second season of the Santam Insure Your Future Money Bootcamp, hosts Mapalo Makhu and Maya Fisher-French explore the emotional aspects of money management. With a focus on financial trauma, they discuss how our upbringing and past experiences shape our relationship with money and the significance of understanding these emotions. How these emotions can either empower or hinder our financial decisions. Mapalo and Maya share personal anecdotes and real-life examples, illustrating the profound impact of financial trauma on individuals' behaviours, from procrastination in checking bank statements to compulsive spending. They emphasise the importance of confronting these emotions and the necessity of having open conversations about money, whether with friends or partners. Listeners will gain insights into the concept of 'money vows' - the promises we make to ourselves based on our financial experiences - and how these can influence our current financial habits. The episode also addresses the psychological triggers behind retail therapy and excessive spending, encouraging listeners to reflect on their emotional drivers. Join Mapalo and Maya as they guide you through the complexities of money and emotions, equipping you with the knowledge to embark on your financial transformation journey. Remember, understanding your emotions around money is the first step towards achieving financial wellness. Don't forget to download the money questionnaire from our website to kickstart your journey! - Understanding Financial Trauma - The Impact of Upbringing on Money Mindset - Confronting Financial Fears - The Importance of Open Conversations about Money - Exploring Money Vows and Their Influence - Retail Therapy and Emotional Spending - Empowering Yourself through Financial Awareness This podcast series is designed to motivate and inform you as you navigate your personal financial transformation. Stay tuned for more insightful discussions in this season!

In this episode of "Know Your Ombud," host Maya Fisher-French speaks to Howard Gabriels, the head Ombud for credit, to unpack consumer rights when it comes to taking out credit. This episode aims to empower listeners by clarifying the roles of various Ombud schemes, including the National Financial Ombud, and the importance of lodging complaints against financial institutions. Maya and Howard delve into the types of complaints handled by the credit division, which encompasses a wide range of credit providers, from retailers to micro lenders. They discuss the critical issue of reckless lending, highlighting how consumers can seek recourse if they believe they have been treated unfairly. Howard shares insights from real cases, illustrating how the Ombud intervenes to resolve disputes and improve industry practices. This includes a case study on the abuse of value-add services which are often added to retail store accounts and how this can escalate a customer's debt. This case led to a major policy change for a retailer, ultimately benefiting thousands of consumers. It also highlights the importance of checking statements and understanding the implications of credit agreements. The episode also addresses the responsibilities that come with borrowing money, reminding consumers of the importance of communication with credit providers during financial difficulties. Maya and Howard stress that while consumers have rights, they also have obligations that must be honoured to maintain a healthy relationship with credit providers. Join Maya and Howard as they navigate the intricacies of credit complaints and the vital role the Ombud plays in protecting consumer rights. Remember, the Ombud service is free and accessible, providing an essential resource for those feeling underserved by financial institutions.   If you feel let down by a financial service provider, you can contact the appropriate ombud scheme via the links below: FAIS Ombud: Disputes related to financial advice Office of the Pension Funds Adjudicator (OPFA): Disputes related to pension funds JSE Ombud: Disputes related to the JSE National Financial Ombud Scheme (NFO): Disputes related to banking, credit, and insurance This podcast series was created in partnership with The Ombud Council.

In this episode of "Know Your Ombud," host Maya Fisher-French chats to Nerosha Maseti , the lead Ombud for banking services at the National Financial Ombud (NFO). This episode aims to empower consumers by shedding light on their rights and the processes involved in lodging complaints against financial institutions. Maya and Nerosha discuss the common grievances that consumers have with banks, particularly focusing on the importance of understanding when to escalate issues to the Ombud after attempting to resolve them directly with their bank. They clarify the distinctions between banking complaints and credit-related issues.  Listeners will gain valuable insights into how the Ombud investigates cases, including those involving interest calculations and reckless lending. Nerosha shares real-life examples, illustrating the rigorous processes that the Ombud employs to ensure fairness and transparency in resolving disputes. The episode also delves into the complexities of banking fraud cases, discussing the responsibilities of both consumers and banks when it comes to digital security. Nerosha emphasizes the importance of safeguarding personal banking information and the potential consequences of negligence in this area. Join Maya and Nerosha as they demystify the Ombud's role, encouraging consumers to take charge of their financial rights and seek help when needed. Remember, the Ombud is a free service designed to assist you in resolving financial disputes, so don't hesitate to reach out if you feel you've been treated unfairly! If you feel let down by a financial provider, contact one of these trusted schemes:   FAIS Ombud for financial advice disputes – faisombud.co.za Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes: pfa.org.za JSE Ombud for JSE-related issues: jse.co.za National Financial Ombud Scheme (NFO) for banking, credit, and insurance: nfosa.co.za   This series was created in partnership with The Ombud Council.

Know your Ombud is a series of conversations aimed at helping consumers of financial services understand their rights and where to go if they are not treated fairly.  In this episode of "Know Your Ombud," host Maya Fisher-French sits down with Reana Steyn, the head Ombud and CEO of the amalgamated National Financial Ombud (NFO), to discuss the significant changes in the financial Ombud landscape following the establishment of the National Financial Ombud Scheme. Reana shares insights on how this new single scheme aims to simplify the process for consumers, consolidating four previously separate Ombud schemes into one streamlined organisation.  Listeners will learn about the various types of complaints that can be addressed by the Ombud, the importance of initiating a complaint with the financial institution first, and the critical role of the Ombud in resolving disputes effectively. Reana emphasises that the Ombud service is free of charge, providing consumers with access to legal expertise without the need for costly lawyers.  The conversation also touches on the fairness jurisdiction of the Ombud, which allows for a broader interpretation of consumer rights beyond just the legal contract. Reana explains how the Ombud can advocate for systemic changes within financial institutions, ensuring that consumer interests are protected and that unfair practices are addressed.  Join Maya and Reana as they delve into the workings of the Ombud system, encouraging listeners to utilise this invaluable resource for resolving financial disputes and advocating for their rights. Remember, the Ombud is here to help you, so don't hesitate to reach out if you have a complaint! If you feel let down by a financial provider, contact one of these trusted schemes:   Ombud for Financial Services Providers (FAIS) for financial advice disputes:  faisombud.co.za Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes: pfa.org.za JSE Ombud for JSE-related issues: jse.co.za National Financial Ombud Scheme (NFO) for banking, credit, and insurance: nfosa.co.za  This series was created in partnership with The Ombud Council.

Know your Ombud is a series of conversations aimed at helping consumers of financial services understand their rights and where to go if they are not treated fairly.  The financial Ombud schemes include the National Financial Ombud, the FAIS Ombud, the JSE Ombud and the Pension Funds Adjudicator, which are all overseen by the Ombud Council. Lodging a complaint with an Ombud is free and you do not have to appoint a lawyer.  In each episode, we speak to key persons from the ombud system to understand the cases they deal with and how the Ombud adjudicates complaints. We examine cases where the Ombud has ruled in favour of the consumer and those that go in favour of the financial institution.  In this introductory episode we interview Leanne Jackson, the CEO of the Ombud Council to understand how the financial Ombud system works in South Africa.  There have been significant changes since the establishment of the Ombud Council, which is the regulatory body that oversees the various financial Ombud schemes.   In this episode Leanne and Maya discuss the role of the Ombud Council but also how the Ombud schemes apply the principles of Treating Customers Fairly. This goes beyond just the legal contract and looks at whether the contract or treatment of the consumer was fundamentally fair. It also highlights the importance of consumers using the Ombud system which can lead to systemic changes in the financial sector. If you feel let down by a financial provider, contact one of these trusted schemes: Ombud for Financial Services Providers (FAIS) for financial advice disputes – faisombud.co.za Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes – pfa.org.za JSE Ombud for JSE-related issues – jse.co.za National Financial Ombud Scheme (NFO) for banking, credit, and insurance – nfosa.co.za   This series was created in partnership with The Ombud Council.

In the latest episode of our podcast, host Maya Fisher French engages in an open and honest discussion about insurance, particularly focusing on long-term insurance and the often-overlooked area of employee benefits. Joined by certified financial planners Bryan Nicol and Johann Peens, the episode dives deep into the complexities of insurance coverage, highlighting the importance of understanding what you have vs what you actually need. Most people have some form of long-term insurance, even if it is just through their company, but few understand what it covers and whether it is the right type of insurance for their needs. Are you over-insured? Does your company provide life insurance and how does that work?  Do you understand your premium pattern? Are you going to be able to afford your premiums in ten years' time? Listen to this podcast, where we explain how insurance works and the right questions you should ask your employer and your financial adviser. 

In this episode of "My Money, My Lifestyle," host Maya Fisher-French welcomes tax expert Andre Bothma to discuss the implications of recent tax proposals on personal finances as the new tax year begins.  Maya and Andre explore the concept of fiscal drag, where taxpayers find themselves paying more due to the lack of inflation adjustments in tax tables. They clarify common misconceptions about salary increases and tax brackets, emphasizing that the tax implication of earning more should not stop you from taking a salary increase. The conversation also touches on existing wealth taxes in South Africa, the impact of capital gains tax, and the notion that middle-class individuals often bear the brunt of tax burdens. Listeners will gain insights into the complexities of tax compliance, the importance of making informed financial decisions without letting tax implications dictate choices, and the potential consequences of not adapting tax legislation to accommodate the growing self-employed and freelance workforce. Join Maya and Andre as they unpack these pressing financial topics, providing listeners with valuable information to navigate their personal tax situations effectively.

In this episode of "My Money, My Lifestyle," host Maya Fisher-French engages in a deep dive into the complexities of the national budget and its implications for taxpayers with Chris Axelson, the acting head of tax and financial sector policy at National Treasury. As the government navigates the contentious landscape of tax collection, Axelson sheds light on the recent adjustments to the budget, including a shift from an ambitious VAT increase to more modest measures aimed at generating 28 billion rand in revenue. They explore the delicate balance between raising taxes and maintaining economic growth. They discuss the implications of various tax instruments, such as personal income tax, corporate tax, and VAT, and how these decisions are made amidst pressures from both revenue needs and household impacts. Axelson explains the concept of fiscal drag and how it effectively raises personal taxes without changing rates, often leaving taxpayers unaware of the increase.   Listeners will gain insights into the priorities for the additional tax revenue, including funding for essential services such as education and healthcare, as well as the challenges of addressing corruption and inefficiencies within government spending. Chris also addresses the importance of tax compliance and the role of SARS in improving revenue collection.   Join Maya and Chris Axelson as they unpack these critical financial topics, providing listeners with a clearer understanding of how budget decisions affect their wallets and the broader economy.   1. Overview of the national budget and tax implications 2. The shift from VAT increase to alternative revenue measures 3. Understanding fiscal drag and its impact on personal taxes 4. Balancing tax increases with economic growth 5. Priorities for additional tax revenue allocation 6. The role of SARS in improving tax compliance 7. The complexities of government spending reviews  This podcast is in partnership with National Treasury.

In this episode of "My Money, My Lifestyle," Maya Fisher-French has a thought-provoking discussion with financial expert Hugh Hacking of Momentum Corporate about the recent interest rate cuts and their implications for retirees and investors.  With prime rates dropping from 11.75% to 11%, the conversation unpacks how these changes affect both life and living annuities. This episode explains how annuities work, how interest rates influence their pricing and attractiveness as well as the differences between life and living annuities.  Listeners will gain insights into the balance between guaranteed income and the risks associated with living annuities, including the potential for running out of funds during retirement. The episode also highlights the importance of blending different annuity types to create a sustainable retirement income strategy. Hugh shares practical advice on how retirees can optimize their portfolios, manage costs, and ensure they have enough resources to cover unexpected expenses. Join Maya and Hugh as they unpack these critical financial concepts, providing listeners with the knowledge to make informed decisions about their retirement planning. Overview of recent interest rate cuts and their impact on retirement planning Understanding life annuities vs. living annuities How bond rates affect annuity pricing The risks and benefits of living annuities Strategies for blending annuities for a sustainable income Importance of cost management in retirement planning Final thoughts on securing financial stability in retirement

In this episode of "My Money, My Lifestyle," host Maya Fisher French interviews Adrian Hope-Bailie, founder of Fynbos Money, a new investment platform designed to simplify and reduce the costs of investing.  Adrian shares his journey of creating a platform that addresses the common question: "Where do I start investing?"  With countless unit trusts and investment options available, it is unsurprising that people feel overwhelmed by choice. The need to simplify choice and administration motivated Adrian to create Fynbos Money, which focuses on emergency and tax-free savings accounts.  The key behind the Fynbos Money model is that it allows users to set up a single debit order that allocates funds to various savings and investment goals, users can focus on their financial future without the stress of managing multiple accounts.   Listen to the full podcast, where Maya asks Adrian deeper questions about who is behind Fynbos Money, how they keep investors' funds safe, how they select funds, and their future plans.  1. Introduction to Fynbos Money and its mission 2. The common question: Where to start investing? 3. Importance of emergency funds and tax-free savings accounts 4. Unique features of Fynbos Money: automation and goal tracking 5. Understanding fees and the subscription model 6. Fund selection and investment safety 7. Empowering users for financial wellness   Fynbos Money sponsored this podcast  

In this episode of "My Money, My Lifestyle," host Maya Fisher French chats about side hustles with Willem Gous, author of "Side Hustle Success." With nearly half of employed South Africans engaging in side businesses, the conversation explores practical strategies for starting a side hustle on a shoestring budget without significant risk. Maya and Willem discuss the importance of testing business ideas quickly, emphasizing that waiting for funding or a perfect plan can stall progress. Willem shares insights from his book, highlighting that potential entrepreneurs should leverage their existing resources and focus on understanding customer needs rather than getting bogged down in traditional business planning. Listeners will learn about the significance of setting time limits for their side hustles, the value of starting small, and the power of listening to customers to identify viable business ideas. Willem offers practical examples, including how one woman turned her baking hobby into a thriving business without the need for initial funding and how to start a clothing brand without owning stock. The episode also addresses the psychological barriers that often hold aspiring entrepreneurs back and provides actionable advice on overcoming these challenges. The bottom line is that if ​you ​can't ​start ​your ​business ​in ​five ​minutes, ​​you may ​need ​to ​move ​on ​to ​a ​different ​business. Join Maya and Willem as they demystify the side hustle journey, encouraging listeners to take action, embrace experimentation, and ultimately, find financial freedom through entrepreneurship. 

Why are so many people who earn a good income, who would be considered high-net-worth individuals, struggling with debt? We all believe if we earned a bit more, our financial issues would disappear, yet this appears not to be the case. In this episode of "My Money, My Lifestyle," host Maya Fisher French is joined by certified financial planner Johan Werth to understand why so many high-net-worth individuals are struggling with debt. With debt levels rising faster among higher-income earners than their lower-income counterparts, Maya and Johan unpack whether this is a financial or behavioural issue and what steps can be taken to address it. Johan shares his insights into the lifestyle inflation that often accompanies increased earnings, leading many to live beyond their means despite substantial incomes. They discuss the impact of rising living costs, the temptation of easy credit, and the societal pressures to maintain a certain lifestyle. Maya and Johan emphasize the importance of financial literacy, tracking expenses, and the critical need for a financial plan to avoid the debt trap. Listeners are encouraged to reflect on their own financial habits, consider the long-term effects of lifestyle creep, and take proactive steps to build a sustainable financial future. Johan offers practical advice on budgeting, understanding personal inflation, and the significance of starting to save early, even with small amounts. This episode offers insights into how individuals, regardless of their income level, can break the debt cycle and achieve financial stability. Tune in to discover how you can take control of your financial destiny and make informed decisions that align with your life goals.   ✍️ Episode References   Debt Busters: https://www.debtbusters.co.za/ City Press Money Makeover

To kickstart 2025 with financial wisdom Maya Fisher French sits down with Fulu Mashapha, author of "Mind Your Cents: A Practical Approach to Financial Freedom."  Fulu wrote her book based on her experiences of money as a young child and as a graduate starting her career. In this podcast Fulu shares with Maya her journey from university to becoming a financially savvy actuary and her experiences of navigating the world of finance as a young professional. From understanding the diverse personalities money can take on to the importance of managing your finances no matter your income level, Fulu's experiences offer relatable and actionable advice for young professionals. Fulu recounts her first year of work, the unexpected costs of adulting, and the reality of lifestyle inflation. Learn about the critical steps she took before buying her first car and property, and how she navigated the pitfalls and challenges of property investment. Fulu also sheds light on her investment strategy, balancing between professional management and personal experimentation, and the importance of long-term planning.  Whether you're just starting out in your career or looking to refine your financial strategy, Fulu's story is a testament to the power of informed decision-making and financial literacy. Tune in to gain invaluable insights and start your year on the right financial foot. You can purchase Fulu's book Mind Your Cents by clicking here: https://mashelenigroup.co.za/product/mind-your-cents/ 

Join hosts Maya Fisher French and Mapalo Maku in this special episode as they reflect on the incredible journey of Santam staff members who participated in the six-month Santam Insure Your Future Money Bootcamp. This transformative experience culminated in a final event that celebrated the courageous individuals who opened up their financial lives to scrutiny, embraced change, and achieved remarkable personal growth. The episode shares the mentees' powerful testimonials about their newfound financial empowerment. Discover how the bootcamp helped them overcome fears and shame around money, leading to improved financial literacy and self-discovery. Participants learned to read the fine print, question financial entities, and understand the implications of their financial choices. This newfound confidence allowed them to have open conversations about money, not just with themselves but also with their families, breaking cycles of poverty and setting a positive example for their children. Throughout the episode, Maya and Mapolo share invaluable tips and insights from the bootcamp, including the significance of reviewing bank statements, managing subscriptions, and understanding debt statements. The episode also addresses the psychological aspects of money management, encouraging a positive mindset and intentional financial planning. Join us in this episode to learn how you can transform your financial mindset, gain control over your money, and embark on your journey to financial empowerment. Listen now and be inspired by the incredible stories of those who have taken charge of their financial futures.

The Psychology of Financial Decisions In this episode of the "My Money, My Lifestyle" podcast, host Maya Fisher French chats to Rudolph Geldenhuys, the Financial Planner of the Year, about the psychology behind financial decision-making. They discuss the importance of understanding the 'why' behind one's financial actions. Rudolph, who has been in the financial services industry for over a decade, shares his journey of overcoming imposter syndrome and embracing his calling to help people make better financial decisions. His insights shed light on the fact that while technical, financial planning is crucial, the emotional and psychological aspects are equally significant.  We look at real-life scenarios, such as the emotional choice of withdrawing retirement funds for immediate desires and the need for a balanced approach to financial planning that considers both short-term and long-term consequences. Listeners are encouraged to reflect on their financial motivations and the trade-offs they are willing to make. Rudolph introduces the concept of the 'decision-free zone,' a framework to help people categorise their financial decisions based on urgency and impact. This practical advice empowers listeners to manage their resources—time, money, and energy—more effectively. The episode also explores the universal question of financial security: "Am I going to be okay?" Rudolph emphasises addressing this concern by aligning financial decisions with personal values and life goals. He advocates for a holistic approach to financial planning that goes beyond numbers, focusing on the human element and the pursuit of a meaningful life. Whether you're facing retirement, contemplating a major purchase, or simply seeking to improve your financial well-being, this episode offers valuable insights and actionable advice. Tune in to gain a deeper understanding of the psychology of money and learn how to make decisions that truly serve your best interests.

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.  In our previous episodes we have spoken about building wealth, but what about succession and building intergenerational wealth? How do you protect your family but also transfer wealth to future generations? We are joined by Moremadi Mabule, a fiduciary expert, to explore the complexities of wills, estate planning, and the often-overlooked aspect of tax implications upon death.  Estate planning is not just for the wealthy; it's about ensuring that your accumulated wealth is passed on to future generations.  In writing up a will and planning your estate you also need to look at issues such as estate duty, and the impact of executor fees, which can be as much as 4% of your entire estate. Moremadi explains how to navigate these costs and the strategies you can employ to minimise them, such as negotiating executor fees and planning for tax implications.  The episode also covers the importance of keeping your retirement fund nomination forms up to date, as well as understanding how retirement benefits are treated differently from other assets in your estate. We explore the concept of testamentary trusts and beneficiary funds, which can protect your children's inheritance and ensure it is used as intended. Moreover, we touch on the sensitive topic of selecting a guardian for your children and how to structure your will to safeguard their future financially. The discussion extends to the importance of having a living will and the role it plays in making your wishes known should you become incapacitated. Join us for this insightful episode as we uncover the steps you can take to secure your legacy and ensure your wealth benefits those you care about most.

This week Finance Minister Enoch Godongwana announced the Medium-Term Budget which is tabled every year in October.  Most people only really care about the February budget because that is where the minister announces the changes to taxes. But the medium-term budget is packed with really important information about how government is going to be collecting and spending our money over the next three years. It also gives us some idea about what we can expect in February and whether taxpayers will be on the hook.  In this podcast I am joined by Gcobisa Magazi, Director: Public Finance at National Treasury to discuss the medium-term budget.  We discuss the significance of the medium-term budget, often mislabelled as a "mini budget," and explore its role as a policy statement outlining government priorities and fiscal strategies. Key topics include the challenges of revenue collection, unexpected expenditures, and the government's strategy to manage debt, which currently consumes 21% of the budget. We also delve into the concept of fiscal anchoring, a legislative approach to ensuring sustainable fiscal policy, and the balancing act required to meet the needs of a financially vulnerable population while striving for a primary budget surplus. Join us for an insightful conversation on the intricacies of public finance, the importance of economic growth, and the government's efforts to balance debt management with essential social and infrastructure spending. 

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future. In this episode, we delve into the intricacies of retirement planning with Johann Steyn, a certified financial planner at Rainmaker Bluestar by Sanlam. As one approaches retirement, the need for strategic financial planning becomes critical – not only to understand your financial position, but also to maximize your tax options. Johann shares insights on how to prepare for retirement, whether you're five years away or just a year before. He emphasises the importance of setting realistic expectations, understanding legislative options, and the purchasing power of your money. One of the critical discussions revolves around having a retirement budget and the importance of eliminating debt before retiring. Johann advises on the significance of understanding your expenses and what you would need to do if you planned on retiring early. The conversation also touches on the misconceptions surrounding lump sums vs income and the reality of life expectancy. The episode further explores the different retirement products available, such as living annuities and life annuities, discussing when each is appropriate. Johann highlights the benefits and risks associated with these products, including market volatility and the potential for a hybrid approach. The importance of maintaining a medical scheme in retirement is also discussed, considering the high inflation rate of medical expenses. In the podcast we also discuss the role of tax-free savings accounts as a supplement for retirement, offering insights into how they can be strategically used to provide tax-free income later in life. Join us for a comprehensive discussion on retirement planning, ensuring you have the knowledge to maintain your dignity and independence in your golden years.

Welcome to the Santam Insure your Future money boot camp with Maya Fisher-French and Mapalo Makhu.  In the last two episodes we looked at saving and investing for those goals we want to achieve during our working years. But at some point, we want to kick back and retire, or at least have choices about whether we want to continue to work or not.  One of the massive challenges of retirement funding is that we are living way past our retirement age. Some companies have a retirement age of 60 and given that many people are expected to live to nearly 90 years old – that is 30 years of retirement you need to fund. There are only really two ways to do this: either you start from your first paycheque and put away about 18% of your salary, or you defer retirement to age 65. But even then, you probably need to be putting away at least 15% of your salary from the age of 25 to be able to retire comfortably. Most people find they must supplement their retirement income in some way and next episode we will look at more detail around strategies at retirement, but in this podcast we discuss “how much is enough”, the importance of settling debt before retirement, how to go about investing for retirement and the various investment products.  In this podcast we also explain the implementation of the Two Pot retirement system and how that is going to affect retirement outcomes.

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.  Last episode we focused on saving for shorter-term goals, but what about those medium to longer-term goals like your child's tertiary education in ten years or time, or leaving your child a legacy? Maybe you want to start your own business one day? How do you start? The episode begins with the importance of setting clear and achievable financial goals, providing a practical example of calculating future education costs, illustrating how inflation can significantly impact the amount you need to save. One of the key takeaways is the distinction between interest and growth. While interest is a guaranteed return from a bank, growth involves investing in assets that increase in value over time. They highlight the benefits of investing in unit trusts and exchange-traded funds (ETFs) as effective ways to achieve capital growth. A significant portion of the episode is dedicated to the advantages of tax-free savings accounts (TFSAs). Introduced in 2015, TFSAs offer a tax-efficient way to save and invest. Maya and Mapalo explain how TFSAs can be used for various financial goals, including saving for your child's education and supplementing your retirement fund. They stress the importance of viewing TFSAs as long-term investment vehicles rather than regular savings accounts. The hosts also explore the opportunities and benefits of investing offshore. They discuss how local funds can invest on your behalf overseas, providing exposure to global markets. For those looking to build assets outside South Africa, they recommend starting with local companies that offer offshore investment products. Maya and Mapalo caution against the use of endowment products for education savings. They argue that these products often come with high fees and tax implications that may not be beneficial for most investors. Instead, they advocate for simple, low-cost investment options like TFSAs and unit trusts. Join Maya and Mapalo for an enlightening discussion that will help you secure your financial future.

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.  In this episode we help listeners give up the debt dependency by having a savings plan. We look at why we save and what goals we should be saving towards. We also delve into the concept of an emergency fund—why it's essential and how to build it. Contrary to popular belief, a credit card is not an emergency fund!  We discuss practical strategies for setting up an emergency fund and the benefits of having a financial cushion for unexpected expenses. We look at the different type of accounts to use for your emergency fund and debate whether you should use your mortgage as part of your financial buffer.  We explain how to save for school fees and those daily school expenses as well as how to help your parents build a home without taking on debt. By anticipating these costs and saving in advance, you can avoid the stress of last-minute financial scrambles.

As we mark National Wills Week, there's no better time to address the importance of having a properly drafted will.  In the latest episode of our podcast, Maya Fisher-French sits down with Deenisha Nadesan, Executive Director of Estates at Capital Legacy, to discuss the common pitfalls people encounter when drafting their wills and how to avoid them.  This is not just a matter of legal formalities; it's about ensuring that your hard-earned assets are distributed according to your wishes, thus preventing family disputes and financial ruin.  Marriage contracts are a significant area of concern. Many people don't understand how their marriage contract affects their will.  Misunderstandings here can lead to complications and unintended consequences, such as one spouse inadvertently receiving more than intended. Another critical issue is the witnessing of wills.  According to Nadesan, a will must be signed by the testator and witnessed by two competent witnesses who are present simultaneously. These witnesses cannot be beneficiaries or their spouses, a detail that often trips people up and can render a will invalid. Property inheritance is another complex area. Many people wish to leave their property to their children but don't consider the practicalities. For example, minors can technically own property, but they can't manage it. This can be solved by setting up a testamentary trust to manage the property until the child is of age. Additionally, if a property is left to multiple children, it can lead to disputes over maintenance costs, selling decisions, and more.  Then there's the matter of pensions. Many mistakenly believe their pension forms part of their will. However, pensions are governed by the Pension Funds Act, and the trustees of the pension fund make the final decision on who benefits. This underscores the importance of understanding what assets fall under your will and which do not.  The costs of winding up an estate can also be eye-watering. From executor fees to estate duty and even capital gains tax, the financial burden can be significant. Therefore, it's essential to ensure there's enough liquidity in your estate to cover these costs, either through life cover or other means.  In conclusion, while free wills or DIY templates might seem like a quick fix, they often lead to more problems than they solve. Consulting with a fiduciary expert can save your family a lot of heartache and financial strain. As Nadesan aptly put it, “What's worse than having no will is having a will that's not properly drafted.” So, take this National Wills Week as an opportunity to get your affairs in order. Your future self—and your family—will thank you. This podcast was sponsored by Capital Legacy.

Welcome to Life Behind the Numbers, a Discovery Life podcast series where we delve into the trends driving insurance claims and explore how this data can help us improve health outcomes. In this episode of Life Behind the Numbers, host Maya Fisher-French speaks with Gareth Friedlander, Deputy Chief Executive of Discovery Life, and Daniel Stoch, Senior Manager of Market Analytics and R&D. They delve into Discovery Life's shared value insurance model, discussing how it benefits members by promoting healthier lifestyles and offering financial rewards. They also explore the sustainability of the model, the proactive claims initiative, and how life cover can supplement retirement savings. Tune in to learn how comprehensive life insurance can protect you and adapt to your changing needs. This podcast series was sponsored by Discovery Life

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.  In our last episode we spoke about life and risk cover – this is insurance that pays out if something goes wrong with our health or we pass away. But equally important is health insurance to help pay those medical bills. And it is not just about doctor visits but also if we end up in hospital or require chronic treatment. Sadly, in South Africa we cannot necessarily rely on government health options, so most people use the private sector which means having some kind of health cover. In this podcast we are joined by Mbali Khumalo of Simeka Health to help guide listeners on how to select the best medical option for their needs. We get past the jargon and explain the concepts of hospital plans, comprehensive medical scheme cover, gap cover and medical insurance. We look at the costs and benefits of each and what makes the most financial sense. By the end of this podcast you will be well informed!

In this podcast discussion Old Mutual Investments Chief economist Johann Els explains why he believes we could see the rand strengthen to R14/R15 to the USD.  He explains how a softer US dollar, combined with better growth prospects in emerging economies, could lead to a stronger rand. This is particularly relevant for investors looking to balance their portfolios. Els discusses his overall economic outlook and the potential of economic growth. Given the current economic climate, Els suggests that local investments offer better returns and lower risks and why one should be overweight in South African investments as opposed to offshore investments.  We discuss the broader economic outlook for South Africa. With a focus on private sector growth, improved fiscal policies, and potential upgrades in investment grade ratings, there are several reasons to be optimistic about the country's economic future.

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.  Risk cover can feel like a grudge purchase, especially when budgets are tight, it is also not as exciting as investing, yet it is one of the most important aspects of your financial plan. Very few people understand the various risk products such as income protection and critical illness so in this episode, we are joined by Johann Steyn, a certified financial planner at Rainmaker BlueStar by Sanlam who provides outstanding insight into the cover you do need, and what you don't need. Johann explains the necessity of a proper financial plan to determine the right amount of life cover, taking into account factors like debt, education costs, and income replacement. He also discusses the differences in insurance needs based on age and life stage, highlighting that younger individuals might prioritise income protection over life cover. The conversation covers various types of risk cover, including critical illness, disability cover, and income protection, and the importance of understanding employee benefits. Johann sheds light on the complexities of premium patterns and the significance of planning for long-term affordability. For those nearing retirement or facing high premiums, Johann offers strategies to manage costs, such as converting life cover policies or adjusting coverage based on changing needs. This episode is packed with valuable information to help you navigate the intricacies of life cover and ensure your financial plan is robust and comprehensive.

Welcome to Life Behind the Numbers, a Discovery Life podcast series where we delve into the trends driving insurance claims and explore how this data can help us improve health outcomes. While many risks are beyond our control, there are steps we can take to mitigate them. By adopting proactive and healthier lifestyles, we can reduce the incidence of severe diseases and even mortality.  In this episode, we explore the significant impact of health screenings on severe illness claims, particularly cancer. Maya is joined by Discovery Life Deputy Chief Executive Gareth Friedlander and Chief Medical Officer Dr. Maritha van der Walt who shed light on the correlation between screening and claims, highlighting the dramatic drop in screenings during the COVID-19 pandemic and the subsequent rise in late-stage cancer diagnoses.  We also delve into the broader implications of these findings for life insurance and the substantial increase in payouts under Discovery Life's living benefits, such as severe illness, disability, and income protection, which in 2023 exceeded death benefit payouts. As a result, Discovery Life has responded by investing heavily in screening initiatives, leading to a notable increase in early-stage cancer diagnoses in 2023.  For more information on preventative screening go to https://www.discovery.co.za/medical-aid/screening-and-prevention-cover This podcast series was sponsored by Discovery Life

Welcome to the Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This is a series of podcasts that you can follow to help create your own money journey. We share our experiences in working with individuals who turned their finances around in just six months. In this episode, we tackle the issue of managing excessive debt, especially in the face of rising interest rates and inflation. Many people are struggling to meet their debt repayments, and we are here to offer practical solutions and insights to help you regain control of your finances. We explain concepts like the snowball method, how to have a conversation with your creditors, and the pros and cons of debt consolidation. We also explain debt review, how it works and what to watch out for. By making small sacrifices and reallocating funds, you can make a substantial dent in your debt. Don't forget to download our budgeting and credit agreement templates to help you on your journey to financial freedom

Inflation is a term we hear often, especially when discussing the economy and our personal finances. But have you ever wondered how it's calculated and why it sometimes feels like your expenses are rising faster than the official inflation rate? In our latest podcast episode, I am joined by Sanisha Packirisamy, Economist at Momentum Investments to help unpack the intricacies of inflation calculation in South Africa, shedding light on some common misconceptions. One of the key points discussed is the concept of the Consumer Price Index (CPI) basket. This basket represents a range of goods and services that the average household consumes, and its prices are tracked over time to calculate the inflation rate. However, as our guest Sanisha explains, this basket is reweighted every five years to reflect changes in consumer habits. For instance, items like DVD players have been replaced by more relevant products like smartphones and streaming services.   Sanisha also touches on the "owner's equivalent rent," a term that might seem confusing at first. Essentially, it estimates what homeowners would pay if they were renting their own homes. This figure is crucial for calculating housing costs within the CPI basket. Interestingly, due to the soft housing market in recent years, rental inflation has been lower than overall inflation, which affects the average inflation rate.   The episode also explores how different income groups experience inflation differently. Lower-income households spend a larger portion of their income on necessities like food and public transport, making them more sensitive to price increases in these areas. In contrast, higher-income households might spend more on services and luxury goods, which can distort their perception of inflation.   Behavioral biases also play a role. For example, we tend to notice price changes in items we purchase frequently, like groceries and fuel, more than in items we buy less often, like electronics or cars. This can make us feel like inflation is higher than it actually is.   Moreover, the podcast delves into the impact of global events like the Covid-19 pandemic and geopolitical conflicts on inflation. These events can cause sudden spikes in prices for essential goods, further complicating our understanding of inflation.   So why does the official inflation rate often seem out of sync with our personal experiences? The answer lies in the complexity of the CPI basket and the various factors influencing it. By understanding these nuances, we can better grasp why our bills might not always align with the official figures.   Tune into our latest episode to get a comprehensive understanding of how inflation is calculated and why it might not always match your personal experience. Whether you're an economist or just someone trying to make sense of your monthly expenses, this episode offers valuable insights that you won't want to miss.

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. In previous episodes we have focused on budgeting and living within your means, but at some stage everyone will need to access credit. But how do you do that in a responsible and sustainable manner?  We begin with a cautionary tale from Thato, one of our mentees, who illustrates how easily consumer debt can accumulate. From small loans and credit cards to store accounts, many find themselves in financial turmoil without realising how they got there. Thato's story serves as a reminder of the importance of understanding the true cost of debt and making informed decisions. We explore the concept of good versus bad debt, providing practical examples such as using a loan for education or a car versus funding a lifestyle you can't afford. Maya and Mapalo discuss the emotional aspects tied to borrowing and how to avoid the pitfalls of succumbing to tempting offers from banks and credit providers. We also delve into the mechanics of credit cards, the myths surrounding the interest-free period, and the importance of paying off your balance in full each month. Mapalo shares a poignant story of a client who fell into the trap of using credit to fit in socially, highlighting the emotional triggers that can lead to poor financial decisions. For those looking to build a credit record responsibly, we offer actionable advice on how to do so without falling into debt. From setting realistic credit limits to understanding the impact of your banking behaviour on your credit score, we cover all the bases. We wrap up with a discussion on car finance, including the dangers of balloon payments and the long-term financial commitment they entail. Maya shares insights from her experience on how to negotiate better terms and avoid unnecessary fees, ensuring you make the most financially sound decision possible. Join us for this comprehensive guide to borrowing wisely, and don't forget to complete the credit agreement worksheet available in this link. Your journey to financial freedom starts with understanding and managing your debt effectively.

Welcome to Life Behind the Numbers, a Discovery Life podcast series where we delve into the latest claim statistics with experts from Discovery Life. In this episode, we explore the fascinating concept of insuring yourself in a hard currency like US dollars. Maya is joined by Discovery Life's Deputy Chief Executive Gareth Friedlander and Head of Market Analytics and R&D, Kashmeera Kanji, to discuss the benefits and mechanics of the Dollar Life Plan. Discover why South Africans are increasingly opting for life cover that pays out in US dollars and how this can serve as a hedge against currency fluctuations and depreciation.  We explain how the cover works, when it is appropriate and why, even if premiums are paid in rands, all benefits are paid internationally.  The episode also covers the practicalities of managing premium costs, the innovative exchange rate protector feature, and how you can diversify your life insurance portfolio with offshore options. Whether you have family abroad, liabilities offshore, or simply want to protect your wealth, this episode provides valuable insights into the advantages of dollar-denominated life insurance. For more information you can go to https://www.discovery.co.za/life-insurance/personal-cover-in-dollars This podcast was sponsored by Discovery Life

Welcome to the Santam Insure Your Future Money Bootcamp with Mapalo Makhu and Maya Fisher-French.  In this, the third episode in the series, we delve into the financial intricacies of making major purchases, specifically focusing on buying a home and a car.  We are joined by Tshiamo, one of our mentees from last year, who shares her eye-opening experience of unexpected costs when purchasing property. From transfer duties and bond initiation fees to the often-overlooked levies and municipal rates, buying a home involves more than just the deposit.  We discuss the emotional aspects of home buying, recounting personal stories and offering strategies to manage these significant financial commitments.  The episode transitions to the topic of buying a car, stressing the importance of affordability beyond just the monthly instalments. We explain why we advocate for buying second-hand cars, sharing our personal experiences and tips for ensuring you get the best deal without compromising on quality or financial stability. Join us as we explore these essential financial topics and share practical advice to help you navigate your money journey. You can access the worksheets under Resources

With SARS announcing the opening of tax season on 15 July, it's crucial to understand the complexities of filing tax returns and how to maximise any tax breaks. Joining us to unpack this topic is tax expert Andre Bothma and Poobalan Govender, Acting Head of Old Mutual Rewards, who will explain how Old Mutual Rewards members qualify for discounted rates when using digital tax assistant TaxTim. In this podcast Andre Bothma provides essential insights on who should file a tax return and the importance of timely submissions to avoid penalties. He also clarifies the auto assessment process by SARS and the importance of verifying these assessments to ensure all income and deductions are accurately reported.  Andre highlights common mistakes people make, such as failing to declare additional income or not keeping a logbook for travel deductions. He also reminds taxpayers of the various deductions available to individuals, such as retirement annuity contributions, travel allowances, and donations to public benefit organisations. Poobalan Govender introduces the partnership between Old Mutual Rewards and TaxTim, a digital tax assistant designed to simplify the tax filing process. Members of Old Mutual Rewards can access substantial discounts on TaxTim services, making professional tax assistance affordable and accessible.  Poobalan explains the various membership tiers and the corresponding discounts available. Andre also shares his perspective on when to use a digital service like TaxTim versus seeking personalised assistance from a tax practitioner, especially for complex tax situations or future tax planning.  Don't leave your tax return to the last minute. Use the resources available, such as TaxTim, to ensure your tax return is accurate and submitted on time. If your tax situation is complex, consider consulting a tax specialist. This podcast was sponsored by Old Mutual Rewards

Are you ready to take control of your financial future? The Santam Insure Your Future Money Bootcamp is here to guide you through a transformative journey that will help you understand and master your finances. Hosted by Maya Fisher-French and Mapalo Makhu, this podcast series is designed to help you build a solid financial foundation, no matter where you are on your money journey.   In the second episode of the Santam Insure Your Future Money Bootcamp, Mapalo and Maya dive into the topic of budgeting and how taking control of your day-to-day spending can significantly reduce financial anxiety. With real-life anecdotes and practical advice, this episode is a must-listen for anyone looking to gain financial clarity and peace of mind.   Listeners will hear from Thato, who shares how her anxiety around money diminished once she created a budget, and the story of Pam, who discovered she had more money than she realised once she started tracking her expenses. The episode also features a conversation with Sbongile, a mentee from last year's cohort, who transformed her financial habits and mindset through budgeting.   Mapalo and Maya discuss different budgeting approaches, including zero-based budgeting and the 50/30/20 rule, emphasising the importance of finding a method that works for your unique lifestyle and financial situation. They also explore the concept of a survival budget and how it can provide a safety net during financial shocks.   Whether you're new to budgeting or looking to refine your financial strategy, this episode offers valuable insights and practical steps to help you take control of your finances. Download the budget template from our resource page and start tracking your expenses today. Share your experiences with us by sending a voice note to 062-174-0145.

Welcome to "Life behind the Numbers," a Discovery Life podcast series.  Host, Maya Fisher-French, together with experts from Discovery Life, delve into the latest trends from Discovery Life claims research, highlighting the need for both physical and financial protection against various risks. In this episode, we tackle a topic often overlooked: the importance of child cover and the financial implications of unexpected events affecting our children. Joined by Kashmeera Kanji, Head of Market Analytics and R&D, and Sylvia Steyn, Head of Claims and Servicing, we explore how child insurance can protect against the high costs associated with severe childhood illnesses whilst providing for education costs.  Kashmeera and Sylvia share insights on the hidden costs that medical schemes don't cover, such as taking time off work, home adaptations, and special schooling. We discuss real-life examples, like claims for childhood cancers, and the benefits of automatic child severe illness and parent care benefits. We also examine the significance of protecting your child's educational future and how Discovery Life's Global Family Coverage and the Global Education Protector benefit ensure that your child's education is funded, even if you are no longer able to provide for it.  Sylvia highlights the unique University Funder benefit, which rewards parents for engaging in Vitality by contributing to their child's education costs. Finally, we explore the importance of diversifying risk cover, including options for overseas education through the Discovery Dollar Life Plan and the Dollar Global Education Protector. These plans offer higher limits and cover the comprehensive costs of international education, providing peace of mind for parents. To learn more about how comprehensive life insurance can protect you and your family, visit the "Covering What You Care About" section on the Discovery Magazine Smart Money Hub at Discovery.co.za. You'll find a wealth of resources to strengthen your financial footing. For more details on Discovery Life's full range of cover benefits, speak directly to a Discovery certified financial advisor.  

Created by consumer financial journalist Maya Fisher-French and financial coach Mapalo Makhu, the Santam Insure your Future Money Bootcamp is a podcast designed to help you create your own financial money journey. In this special series, we bring you the transformative journey of financial education. Over the next six months, through 13 episodes, we will guide you step-by-step on how to take control of your finances. The podcasts will be realised every second week and you can follow the various steps of the money bootcamp with access to the documents and spreadsheets discussed in this podcast which you can fill in as you go along the journey by clicking on this link  In this introductory episode, we delve into the relationship between money and emotions. We discuss the fundamental importance of understanding your emotional connection to money as the first step in your financial journey. We share personal anecdotes and insights from our experiences working with individuals who have undergone significant financial transformations. Listeners will learn about the various aspects of financial planning that will be covered in future episodes, including budgeting for daily expenses and major life events, managing healthy and unhealthy debt, distinguishing between saving and investing, and understanding life insurance, medical schemes, and retirement planning. Basically, we will cover all of those aspects that you need to put together your own financial plan This episode also features a compelling story from Andiswa, who shares how completing a money mindset questionnaire helped her and her husband understand their financial emotions and improve their communication about money. Complete the money mindset questionnaire available under Resources and share your insights.  

In this episode of My Money My Lifestyle, host Maya Fisher-French delves into the financial complexities of divorce with financial planner Kirsten Smit of Citadel Investments. They explore the alarming rise in divorces, particularly in the post-Covid era and among those over the age of 50. Kirsten shares insights on the financial upheaval that divorce brings, from splitting assets to managing two households, and the challenges women face during this transition. Listeners will gain a comprehensive understanding of the importance of knowing one's marital regime and the critical need to understand the family's financial landscape. Kirsten emphasises the necessity of having updated values for assets, understanding liabilities, and the significance of a detailed income statement. The discussion also touches on the often-overlooked expenses and the financial implications of maintaining a family home post-divorce. Whether you're contemplating divorce, in the midst of it, or simply want to safeguard your financial future, this episode offers invaluable advice on navigating the financial aspects of divorce. Learn how to create a sound parenting plan, the importance of having life cover, and the role of a financial planner in ensuring a fair and sustainable settlement. Tune in for practical strategies and empowering advice to help you bounce back and secure your financial independence post-divorce.

Wondering how to navigate the chaos of today's economic climate? Dive into our latest podcast episode where host Maya Fisher French and investment expert Debra Slabber from Morningstar South Africa explore the eight principles of successful investing. Discover why simplicity is your ally, how your savings rate impacts your financial future more than you think, and why the best action in a turbulent market might be inaction. The key to investment success lies not in chasing the latest trends or complex products but in embracing simplicity and discipline. Whether you're a seasoned investor or just starting, this episode provides insights on building a resilient investment strategy that can weather the storms of volatility. Tune in to discover how to navigate the investment landscape with confidence, patience, and a steadfast commitment to simplicity.

In this episode of My Money My Lifestyle, host Maya Fisher-French is joined by financial advisor Munya Shumba to address a critical yet often neglected aspect of financial planning: prioritising your own financial future over solely focusing on your family's needs. They explore the delicate balance between generosity and self-preservation, highlighting the need for parents and young professionals alike to establish firm financial boundaries. Listeners will gain insights into how to navigate familial financial responsibilities without compromising their future, the power of starting investments early, and the critical role of having a financial plan in place. The conversation also touches on the pitfalls of debt as a means of family support and the psychological benefits of disciplined saving. Whether you're a parent striving to provide the best for your child or a young graduate grappling with supporting your family while building your own financial foundation, this episode offers practical strategies and a fresh perspective on creating a sustainable financial plan that serves both your and your family's needs. Tune in to understand how to maintain a healthy balance between supporting loved ones and investing in your own financial resilience, ensuring a stable future for all.

In this episode of My Money My Lifestyle, host Maya Fisher-French and financial planner Kirsty Scully tackle the daunting reality of expenses for young graduates entering the workforce.  With salaries that seem substantial on paper, they break down the sobering truth of the cost of living, from rent and groceries to utilities and transportation. Kirsty brings invaluable insights on the financial hurdles faced by those in their early career stages, discussing the potential pitfalls of home ownership, the significance of saving for retirement from a young age, and the importance of medical cover. They also touch on the strategic ways to handle insurance costs and the advantages of shared living to mitigate expenses. Listeners will learn the hard numbers behind what it truly costs to live independently as a new graduate. From the excitement of the first paycheque to the stark realisation of budget constraints, Maya and Kirsty guide you through practical financial planning to avoid common traps that can jeopardise financial stability. Whether you're a recent graduate, a parent advising your child, or simply interested in understanding the financial challenges faced by young professionals, this episode is packed with strategies and advice to navigate the financial transition from student life to full-time employment. Tune in to equip yourself with the knowledge to make informed decisions, prioritise financial goals, and take control of your financial future, one paycheque at a time. 

In this eye-opening episode of My Money My Lifestyle, host Maya Fisher-French delves into the often contentious intersection of love and finance. Maya is joined by Queen Malobane Provincial General Manager at Metropolitan to unpack the complexities of dating and maintaining relationships when partners are in different financial leagues. Queen's recent article on the subject serves as a springboard for a candid discussion about the power dynamics and emotional challenges that arise when one partner earns significantly more than the other. They explore the impact of societal values on relationships, where income disparity can create tension and test the resilience of love. Maya and Queen offer personal anecdotes and practical advice for navigating these tricky waters. From the importance of open communication and transparency to setting boundaries with family members who may perceive one partner as a "gold digger," this episode tackles it all. Listeners will learn how to approach sensitive financial discussions, the significance of mutual respect, and the necessity of creating a joint financial plan that considers both partners' circumstances. They also touch on the role of financial advisors in helping couples plan for the future, including investments, risk management, and estate planning. Whether you're currently navigating a relationship with income disparity, planning to merge finances with a partner, or just seeking insights on love and money, this episode offers valuable perspectives and strategies. Tune in to gain the tools you need to build a relationship that thrives, not just survives, in the face of financial inequality. (00:00) Maya introduces the topic of money and relationships (02:15) Queen Malabane's insights on dating outside your financial league (04:50) The importance of discussing money early in relationships (07:30) Red flags to watch for on dates that indicate future financial friction (10:20) The dynamics of power and control in relationships with income disparity (13:40) The need for respect and appreciation of non-financial contributions in a partnership (17:05) Dealing with family perceptions and setting boundaries (20:35) Navigating financial support for extended family members (24:00) Creating a fair and transparent joint financial plan (27:45) The importance of including investments and retirement planning (30:50) The role of financial advisors in relationship planning (34:15) The impact of financial stress on relationships and the need for open communication (37:30) Queen's concluding thoughts and Maya's wrap-up

In this practical episode of My Money My Lifestyle, host Maya Fisher-French tackles the often-overlooked details of short-term insurance contracts that can have a big impact on your wallet. Maya shares her personal discovery of significant hikes in her insurance policy when it came to excesses - prompting a deep dive into what policyholders can do to navigate these changes. Joined by insurance expert Karen Rimmer from PSG Insure, they explore the trend of insurers adjusting excess fees and how this affects claims. Karen explains the reasons behind these industry shifts, including the aftermath of global events and local challenges like infrastructure woes and escalating crime rates. Maya and Karen discuss the importance of understanding your insurance contract, the power of negotiation with insurers, and the concept of self-insurance—how to determine what risks you can manage yourself and what requires comprehensive coverage. They also highlight the benefits of having your property assessed, debunk myths about what insurance typically covers, and reveal valuable add-ons that might already be part of your policy. Whether you're looking to cut costs without compromising coverage or simply want to ensure you're not caught off guard by hidden clauses, this episode is filled with actionable insights. Tune in to learn how to proactively manage your short-term insurance and make informed decisions that safeguard your lifestyle without breaking the bank. (00:00) Introduction to short-term insurance surprises (01:22) Maya's personal experience with excess fee increases (03:40) Karen Rimmer explains the industry trend and its causes (06:15) The impact of global and local events on insurance claims (08:50) The role of risk underwriting and individual factors (10:35) The shift towards a risk-sharing model between insurers and clients (13:05) How to approach self-insurance responsibly (15:30) The fine print: What to watch out for in your insurance contract (17:45) The advantages of having an insurance assessor evaluate your home (20:10) Uncovering hidden benefits in your insurance contract (22:35) The value of expert advice from a financial advisor (24:50) Special perks for policyholders over 55 (26:40) Closing thoughts on the importance of understanding your insurance details

In this insightful episode of My Money My Lifestyle, host Maya Fisher-French takes you behind the scenes of South Africa's national budget with the expertise of Mr. Edgar Sishi, Deputy Director General of National Treasury and Head of the Budget Office at National Treasury.  As the nation grapples with the impact of financial decisions, Maya and Mr. Sishi dissect the complexities of a R2.37 trillion budget, the daunting reality of debt servicing costs, and the delicate balance of tax collection. Ever wondered about the gargantuan task of managing a country's budget amidst divergent opinions on taxation and spending? This episode shines a light on the intricate process of fiscal policy-making, the rationale behind the absence of bracket creep relief, and the contentious topic of wealth taxes. Maya also probes into the government's social wage spending, which accounts for a staggering 60% of the budget, and the introduction of the Corporation for Deposit Insurance, set to safeguard individual deposits up to R100,000. But it's not just about the big numbers and policies. Maya and Mr. Sishi delve into the future of tax-free savings accounts and the innovative use of the gold and foreign exchange contingency reserve account to reduce national borrowing. This episode is a must-listen for anyone seeking clarity on South Africa's financial roadmap and the implications for personal finance. Tune in to demystify the national budget, understand the implications of fiscal drag on your pocket, and explore the strategies National Treasury employs to ensure economic stability and growth. Get ready to be informed and empowered with this deep dive into the fiscal fabric of South Africa.

In this comprehensive episode of My Money My Lifestyle, Maya Fisher-French, a seasoned freelancer herself, delves deep into the world of taxes with tax experts Kagiso Nonyane and Dumisa Sihawu, from BDO South Africa.  They tackle the complexities of tax for freelancers, from understanding why tax may be deducted from your earnings to the intricacies of tax directives and provisional taxpayer status. Are you a graphic designer, writer, or any kind of freelancer juggling clients and projects? Then you have probably encountered the complexity of tax. Our experts break down the legalities, the percentages, and the dreaded tax surprise that may come knocking if you're not prepared. But it's not all about what you owe. Kagiso and Dumisa also shed light on the deductions you can claim to minimise your tax liability and the benefits and burdens of VAT registration for freelancers. They even touch on when it makes sense to transition from a sole proprietor to a Pty Limited company, and the potential pitfalls of making this move for tax reasons alone. If you've ever found yourself scrambling to pay a tax bill, or if you're considering voluntary VAT registration, this episode is a treasure trove of advice. Learn how to stay on top of your admin, avoid penalties, and maybe even find a silver lining in tax season. Plus, get insights into SARS' Voluntary Disclosure Programme and how it could be a lifeline for those who've missed the boat on their tax obligations. Don't let tax be the bane of your freelance existence. Tune in to this episode of My Money My Lifestyle and equip yourself with the knowledge to navigate the tax tides with confidence. And remember, if you have questions or need clarification, Maya is just a Q&A podcast away.

Why do so many people feel that the financial system is rigged against the average person, that the system is built to benefit the elite at the expense of the average person? In this podcast Maya has a frank discussion with David Buckham, founder and CEO of Monocle Solutions and author of The End of Money, The Age of Menace and Why Banks Fail, about the inherent flaws in the banking system and the reasons behind the erosion of trust across all areas of society – financial and political.  They unpack what is behind the narrative that South African banks have actively worked to weaken the South African currency; what or who is to blame for the rising global inequality and why we have more billionaires than ever, yet average people are struggling to pay their bills.

Money is not about rands and cents – it is an emotional currency, which is why money conversations are so hard. Money means many different things. It encompasses power dynamics in a relationship, it can symbolise success and status. For some people it reflects care and for others it represents safety. Money and gifts are one of the five love languages. When two people in a relationship have a very different emotional connection to money, those conversations can become loaded and challenging.  In this conversation that every woman should be having, Maya and Andrea have a candid discussion with relationship therapist Connie Valkin about how to have these emotionally charged conversations surrounding money Why, if you can talk about everything except money, you may not be “financially married”. Why trying to find a 50/50 balance in a relationship is not the right approach, and what it may mean if we can't talk about money. If you are finding it hard to initiate money conversations within your household, consider listening to this podcast as a catalyst for opening the door to those necessary, yet uncomfortable, discussions. If you are on the brink of marriage, this discussion offers insights into those vital conversations you need to have now about establishing clear expectations and defining the parameters of your relationship from the start.