Have you recently received your first salary? Are you itching to head to the shops and spend your hard earned money on a treat for yourself?
You might find that now that you are earning a salary you are being approached by various credit providers with appealing offers for store cards and credit cards. You might be tempted to take up these offers so you can spoil yourself to a new outfit or a new cellphone.
The Credit Bureau Association (CBA) has released a 5-part video series, that features three young people who are furthering their studies and want to apply for credit. Watch the series to see how the way that they spend and repay their loans affects their ability to obtain credit later when they start their working life. The Credit Bureau Association (CBA) is a voluntary industry body, representing 13 of the registered credit bureaus within South Africa.
If you have just started out in your first job, you probably aren’t thinking about retirement – that’s about 40 years away! But you probably already have plans for how you would like to retire. Maybe you want to travel the world or maybe you’d like to spend your free time socialising with friends and family in your own home?
Retirement might seem like a long way off but before you know it you’ll be nearing the end of your career and you’ll have to start thinking about how you will make your retirement dreams a reality. But for many millions of South Africans who didn’t plan for their retirement, they have to work out how to survive without an income.
The WageWise financial literacy programme is currently running a radio campaign on five regional radio stations. Each week we host a talk show with a qualified financial planner who is a member of the Financial Planning Institute of Southern Africa (FPI) and some of the WageWise workshop trainers.
These talk shows included lively discussions on various financial literacy topics, all intended to help the listeners deal with financial challenges they may be experiencing, especially during these difficult times resulting from the Covid-19 pandemic and the lockdown. Listeners were also invited to call in with any questions they had. Learn more about the radio talk shows and listen to the podcasts.
As South Africa emerges from Level 4 Lockdown, we are only just beginning to understand the full economic impact that the COVID-19 pandemic has had on the country. Many people have already lost their jobs and many have been earning a reduced income during this period.
During this crisis the economy is very volatile and the global economy is experiencing a major global recession. This means that the price of shares on the stock market is likely to fall and this may impact on your investments.