your guide to money

Bank Account

Got a burning question about personal finance?

Why not get one of our panel of experts to help you find the answer!

Bank Accounts

Fern Simons
Justmoney
FAIS Qualified Consultant

Credit Cards

Gideon van der Westhuysen
Senior Business Manager
Nedbank Credit Cards

Debt

Luke Hirst
Debtbusters MD

Registered Debt Counsellor

Homeloans

Rudi Visser
Bondbusters MD

Mortgage expert

Life Insurance

Sabir Sheikh
General Manager

Insurance Busters

Investments

Gidon Alter
Ecommerce Sales Manager

SA Gold Coin Exchange

Tax

Yolandi Goosen
Boshoff Visser
Tax Expert

Medical Aid

Haroon Abdoolla
Principle health broker
DirectAxis Health

Unit Trust

Rod Lowe
Investonline Director
Investonline

Retirement

Peter Castleden
Sanlam
Actuary

BANK ACCOUNTS

Fern Simons
Justmoney
FAIS Qualified Consultant

Recent Bank Account questions:

- I have an ABSA Silver cheque card and I want to know what the "floor limit" is and how it will affect me if I use funds which are not in my account - cost and credit wise? From: Nelson

- I'm getting a South African work visa and I am going to move to SA. I would like to open a bank account in SA and transfer money into it from my foreign bank's account. Is it possible to open a bank account without visiting the bank, via the Internet or fax? From: Nikolay

- If you want to open an account for your child from birth, what is the best account to open? From: Jane

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CREDIT CARDS

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Recent Credit Cards questions:

- Can I draw cash on credit card?

- Can I use my credit card overseas?

- What if I want to change my limit?

Read more questions and answers here.

Gideon van der Westhuysen
Senior Business Manager
Nedbank Credit Cards

DEBT

Luke Hirst
Debtbusters MD

Registered Debt Counsellor

Recent Debt questions:

- My husband and I are arguing about the best way to handle our finanaces. I say it is better to pay more on our bond and use our credit cards for everyday expenses and pay the credit card minimum payment than to drop our bond repayment to the minimum amount payable. Please tell me who is right and why. From : Martha-Ann

- Hi Luke, I went to court in 2008 and was put under administration. I'm still under administration and got a car allowance from my employer. Can I buy a car or must I wait for the administration to finish? From : Jo-Anne

- I applied for debt counselling but they terminated my contract as I failed to pay them. My problem is if I go to the shops to buy something on credit, I can not do so. They say I am under debt admin. What must I do to clear my name? From : Mampho

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HOMELOANS

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Recent Homeloans questions:

- Hi Rudi, I am a single mom with four dependants. If I wanted to buy a home worth R250,000.00 how much would I need to earn as a salary? From: Thembi

- I have read a recent FAQ where someone asked if selling a house by a bank without notice is legal, and I did not see a response. I believe a judgement issued against me was not legal, and the sale of my house by the bank was not legal. I do not have funds to fight the bank, what recourse do I have? Thank you. From: Jean

- Hi Rudi, I have a home loan with a bank but I think that they take up way too much money. I want to start a business of my own. Is it better to take out a second bond or take out a business loan? From: Peter

Read more questions and answers here.

Rudi Visser
Bondbusters MD
Mortgage expert

LIFE INSURANCE

Sabir Sheikh
General Manager

Insurance Busters

Recent Life Insurance questions:

- Why should you take out credit life insurance? : Harlod

- What are the benefits of credit life insurance? From: Sam

- How much does it cost to take out life insurance cover? From: James

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INVESTMENTS

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Recent Investment questions:

- If I purchase a gold coin, is it hellishly expensive to insure - or is there a way to save on this? What gold coin would you recommend purchasing now? I have R100 000 to invest. From: Diane

- What is the lowest share that one can invest? How long is the investment to last before one can see adjustments? If you have already bought, can you add to that? From: Ricky

- Is it possible to pay off the investment in installments or do you have to have the lump sum in order to invest in gold? From: Frances

Read more questions and answers here.

Gidon Alter

Ecommerce Sales Manager
SA Gold Coin Exchange

TAX

Yolandi Goosen
Boshoff Visser
Tax Expert

Recent Tax questions:

- If I am sitting with two IRP5s and the information is different to the E-filing site or if the calculations are incorrect and the declared tax is lower than what it should be and now has a negative effect on my assessment, where does that leave me and what can be done to rectify it? My previous employer claims it is not their fault and refuses to help and I have a feeling my current employer also declared less tax than should’ve been declared as per tax calculators I have found. Please help as I have no idea what to do? From: Anonymous

- I retired early due to disability and qualify to claim all medical expenses as an income tax deduction. As I cannot use public transport, may I claim for the use of my car for medical visits, and if so, how? (Annually I do about 1300km medical plus 6000km private) From: Pete

- How many business kms should one travel annually when receiving a car allowance and what happens If I do not make the required kms? From: Zelda

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MEDICAL AID

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Recent Medical Aid questions:

- Can anybody take out medical aid?

- My doctor says that he is 'contracted out' of medical aid, what does this mean?

- What is a medical savings account?

Read more questions and answers here.

Haroon Abdoolla

Principle health broker
DirectAxis Health

UNIT TRUST

Rod Lowe
Investonline
Investonline Director

Recent Unit Trust questions:

- How do I pay for the unit trust funds I buy? | From: Paul

- Is there a charge to switching between various unit trust funds available? | From: Gerrard

- Who should invest in unit trusts via Investonline.co.za? | From: Alyssa

Read more questions and answers here.

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RETIREMENT PLANNING

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Recent Retirement Planning questions:

- I am 25 and would like to retire when I am 60. How much should I save towards my retirement each month?

- When it comes to saving for my retirement, is there more than one way to save my money, and what are they?

Read more questions and answers here.

Peter Castleden

Actuary
Sanlam

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