MyMoney Online

Savvy financial tips for women...

Insure the more expensive vehicle in your name instead of your spouse, as you are more likely to get better rates on the car. Many households have two cars and dad generally has the expensive 4×4 and mom the runner.

Insurance companies recognise that women drivers are safer than men when it comes to probabilities of having an accident. Their lower risk leads to lower rates on the insurance policy. So insure the car with dad as the second driver. You’ll save on running costs too….

Separate accounts not joint – having one account with signing powers only for the wife poses a serious estate problem as a joint account in the will be frozen in the estate in the event of death.

This could leave the surviving spouse in a position where there is no access to cash. Estates can take ages to wind up and the last thing you need is to battle with cash to get through the months it takes before the proceeds from the estate are released.

Have your own contingency fund for emergencies and unforeseen expenses. Not only your own banking account but also a savings account in your own name which you can access for emergencies. This amount should cover between 3 to 6 times your monthly expenses. The funds should be reinvested in a money market account with your local bank so that you earn some interest.

Ideally the account should be linked to your internet banking profile alongside your own personal account. This will enable you to transfer the required funds at the click of your mouse giving you complete control of your funds.

Listen to the audio below for more information...

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


Recommended

by NEWSROOM AI
Read More
Best share on the JSE to buy, right now, and 2 from abroad (by Luthuli Capital)

Best share on the JSE to buy, right now, and 2 from abroad (by Luthuli Capital)

The Money Show’s Bruce Whitfield interviews Luthuli Capital’s Mduduzi Luthuli.

Does your Tax Free Savings Account suck? You’re not stuck! How to transfer…

Does your Tax Free Savings Account suck? You’re not stuck! How to transfer…

How to – quickly and easily – transfer in or out of an existing Tax Free Savings Account, for whatever reason.

Got a bad spending habit? Enter Money Rehab (don’t say ‘no, no, no!’)

Got a bad spending habit? Enter Money Rehab (don’t say ‘no, no, no!’)

Want to live a less stressed, financially secure life? Old Mutual’s John Manyike has tips to help you kick your spending habit.

Tips and tricks to save on insurance (and general info about it)

Tips and tricks to save on insurance (and general info about it)

The Money Show’s Bruce Whitfield interviews Old Mutual Head of Financial Education John Manyike.

3 best shares to buy before the end of March (by Nitrogen Fund Managers)

3 best shares to buy before the end of March (by Nitrogen Fund Managers)

It’s stock pick time on The Money Show! Bruce Whitfield interviews Rowan Williams, Director at Nitrogen Fund Managers.

3 best buys on the JSE, right now (by Cartesian Capital)

3 best buys on the JSE, right now (by Cartesian Capital)

It’s stock pick time on The Money Show! Bruce Whitfield interviews Cartesian Capital CEO Anthea Gardner.

Popular articles
Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

WATCH: The EFF has scored an own goal says Eusebius

WATCH: The EFF has scored an own goal says Eusebius

Eusebius McKaiser questions the party's use of vandalism during weekend demonstrations at H&M.

I was not introduced to Ajay Gupta - Grootes

I was not introduced to Ajay Gupta - Grootes

Stephen Grootes says he believes former Eskom CEO Brian Dames when said he was not formally introduced to the Gupta family.

Vavi: I can't sleep at night for making Zuma the president

Vavi: I can't sleep at night for making Zuma the president

Zwelinzima Vavi says South Africa is paying dearly for choices they've made in being angry with Mbeki and not thinking logically.

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.

WATCH: Zuma denies crisis at Sassa, won't evaluate isiphithiphithi (chaos)

WATCH: Zuma denies crisis at Sassa, won't evaluate isiphithiphithi (chaos)

Zuma says he cannot be expected to act against Minister Bathabile Dlamini on social grants matter now before the ConCourt.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

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

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...