Guiding consumers since 2009

Danny K and Lee-Ann Liebenberg split - At what cost?

By Staff Writer

South African celebrities Danny K and Lee-Ann Liebenberg have called off their engagement according to recent reports. Breaking up is never fun and it can also have a large impact on your personal finances. Danny and Lee-Ann were only engaged and not married yet so there would be less of an implication, but if they were married already when they split up then there would be further issues to sort out. So what are the effects of a break up on your money?

 

  • Assets may need to be split
  • Single budgets don't go as far
  • Joint finances need to be unbundled

 

With celebrities like Danny and Lee-Ann they more than likely have a whole bunch of lawyers running around sorting this kind of stuff out for them. Lawyers are an expense though that you need to consider if you are thinking about breaking up. Questions like what is going to happen to that house that they showed on Top Billing? Questions like do they have any claims over earnings made by the other one in the six years that they were together? All of these questions would need to be sorted out before they can truly move on.

So if you are contemplating a break up, plan your budget, see exactly what you would stand to lose or gain if there was a break up. Who would take care of your insurance or your medical aid? Would you need to change the kind of homeloan that you have or even sell your property? A break up can be a major decision that everybody dreads but if it can happen to Danny and to Lee-Ann it could happen to you, so be prepared to deal with the personal finance fallout that a break up could cause.

Recent Articles

Featured How are you taxed on your retrenchment package?

Unemployment is one of the biggest problems in South Africa. The emergence of the Covid-19 pandemic has exacerbated the situation with a lot of companies retrenching their employees.  When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for?

Car repossessed – don’t be taken for a ride

When the country is facing an economic downturn, chances are your finances will feel the pinch. This can lead you to make bad financial decisions such as skipping your vehicle payments. But every decision has consequences and if you don’t pay your instalment, the bank will repossess your car. But what can you do when this happens?

 

Why you should consider gap cover

Your medical aid should protect you from incurring large medical bills when you’re sick. But what if your plan doesn’t cover the full cost of your medical expenses? We got in touch with insurance experts to find out whether gap cover is worth having.

Debt relief - What is your bank offering?

Going through a financial crisis is stressful whether it be as a result of losing your job, being short-paid, having to fork out towards an emergency payment, or finding yourself in the midst of a global pandemic. This is especially taxing if you have a debt to service. It is against this backdrop that banks are increasingly offering payment holidays. Justmoney looks at the various debt relief options available to you from the big five banks.

Deals

Premier Hotel and Resorts Special For Senior Citizens

Price: Available on request
When: Daily
Where: Nationwide

The President hotel 10% discount for locals

Price: Available on request
When: Until 31 October 2020
Where: Cape Town

Get 40% off when you book your stay at Colosseum Hotel

Price: Available on request
When: Until 13 December
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions