Guiding consumers since 2009

Today's business news round up

By Staff Writer
Justmoney compares the news stories today and helps you get in the know.

From Business Report we find that Trevor Manual, the finance minister, believes that he has been in office too long already.

Mr. Manuel has served since 1996 and says he want to give his successor a hand.

The last time Trevor quit the markets lost a whack, so before he does it again maybe you should get yourself a savings account.

In other Business Report news today it was reported that vehicle repossessions were rocketing all over the country, which were mainly from consumers undergoing financial stress.
So rather than go to auction, why not check out our debt consolidation calculator.

If you are suffering in the current economic climate rather get yourself a debt manager now, than get all your stuff repossessed.

And if you are feeling OK at the moment, well then you can get car insurance quotes with Justmoney.co.za.

In further news Business Day reported that the International Monetary fund or IMF has some concerns about our economy warning of a widening current account deficit, which basically means that we are importing more than we are exporting.

If this gap gets too wide we could face a confidence problem and international inward cash flows could dry up.

In real speak this means interest rates could go up again if our appetite for imported goods is not toned down.


The Rand has lost between 40 and 50% against international currencies this year and we just have to calm down.

Click here for our investments page.

In other reports from Business Day it is stated that the South African property market still faces pressures although it is not in as much trouble as internationally, and it is still possible to get a home loan.


The Dispatch
from East London reported on the launch of The Association for Savings and Investment (ASISA), they want to focus on consumer education and help South Africans to save.


Fin24 also covered the IMF report going on to say that the Rand might be overvalued. However their report was compiled before the Rand fell through the floor and ended up gasping in the basement.


The IMF said we might be slightly overvalued, but the opposite may hold true now. The IMF also recommended that SA needed to raise public sector saving in an environment that is not conducive to private savings.


Finally iAfrica brings you a great article that looks at the best available savings interest rates in South Africa.

There is an account out there for you, whether you have R50 or R50 000 to save.

The article also looks at how you can best insulate yourself from the sub-prime crisis fall out, such as paying off your debts and getting a credit card which pays good interest on positive balances.


The top performing accounts are: Sanlam Liquid paying up to 12.29%, ABSA Linked Rate account paying up to 12.40%, and the Virgin Money credit card which pays 9.5% on positive balances.

Click here to compare with Justmoney.

 

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