MyMoney Online

A year-end checklist on your personal finances

It is the final week before many of us set off to have a great holiday and enjoy a well-deserved break. What a year it’s been! Just before you take off here is a personal finance check list...

Listen to Paul chatting to Sam on Weekend Breakfast...

Medical plan for next year You still have time to consider an appropriate plan for next year. Ensure that your option has been received and applied ready to cover you from the 1st January 2016.

Short term insurance valuations adjusted Contact your insurance broker and ensure that your possessions are accurately covered. You want peace of mind that should something happen over the festive season, your policy will comfortably replace any loss. You don’t want to get caught in a wrangle with your insurer because your goods are under insured.

Check and service your alarm system A probable condition with your insurer is that your alarm system is in working order. So, whilst you are updating your valuations you will do well to service your alarm system ensuring it is working while you are away.

Cover your January expenses It’s a long way for most to January’s pay day as many get paid early in December. Make sure there are sufficient funds in your account to cover your debit orders which will come off on the 1st January. If you don’t have enough funds you could have a claim repudiated on your short term insurance, life assurance and medical aid policies if you miss a premium.

Clean out your Loyalty Rewards You may have rewards on various loyalty programs which could be bundled together to give you some value over the festive season. You could use these rewards towards paying for your trip or for a few gifts for family and friends. You probably are paying to be on the loyalty program, so use this time of the year to get something back.

Update your will Before you take off on holiday, ensure that your will is updated and that someone close to you knows where to find it.It is such an important document which many of us ignore. Don’t be complacent and leave it for another day. This time of the year is risky for all South Africans.

A sound financial plan provides peace of mind that your affairs are in order. You will have a much better time over the festive season if you have prepared yourself that much more for the New Year. Happy holidays….

Read more from Paul Roelofse on www.investforlife.co.za

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Where to invest money you intend to leave to your kids

Where to invest money you intend to leave to your kids

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

How to survive retrenchment

How to survive retrenchment

Your rights (and their responsibilities) upon retrenchment. Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

3 shares that'll bring home the bacon

3 shares that'll bring home the bacon

The Money Show’s Bruce Whitfield interviews Overberg Asset Management analyst Kirk Swart.

The best investment on the JSE right now and one from abroad (by Anchor Capital)

The best investment on the JSE right now and one from abroad (by Anchor Capital)

Bruce Whitfield interviews Anchor Capital Aggressive Long Short Fund Portfolio Manager Liam Hechter for his “stock picks” feature.

You’re wrong if you think you (or anybody else) can time the market

You’re wrong if you think you (or anybody else) can time the market

Don’t even try, because inflation will eat you for lunch, says personal financial advisor Warren Ingram.

3 best companies to invest in right now (by Nefg Fund Managers)

3 best companies to invest in right now (by Nefg Fund Managers)

The Money Show’s Bruce Whitfield interviews Nefg Fund Managers Chief Investment Officer Gerbrand Smit.

Popular articles
Why the PAC wants South Africa renamed Azania

Why the PAC wants South Africa renamed Azania

Pan Africanist Congress's Narius Moloto explains why it supports the name Azania, a word which he says has Arabic origins.

Opinion:  Bishop Lekganyane is right

Opinion: Bishop Lekganyane is right

Stephen Grootes weighs in on comments made by the Zion Christian Church Bishop at the weekend.

Getting to know MP, Dr Makhosi Khoza

Getting to know MP, Dr Makhosi Khoza

Dr Khoza is admired by South Africans for her role in the SABC inquiry as a ANC member of parliament.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

Michiel le Roux speaks about the fascinating story behind the little bank that has the Big 4 shaking in their boots.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?