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

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
Ocean View protests Day 3: Police use water cannon to disperse crowd

Ocean View protests Day 3: Police use water cannon to disperse crowd

The community is demanding that the police act accordingly and remove gangsters from their community.

[LISTEN] Makhosi Khoza spills the beans on why she quit the ANC

[LISTEN] Makhosi Khoza spills the beans on why she quit the ANC

She says President Zuma was uncomfortable with her and her decisions which saw changes to the ANC and Motsoeneng ousted.

[Watch] Payday dance: Never a dull moment in Cape Town

[Watch] Payday dance: Never a dull moment in Cape Town

Even slow-moving traffic cannot dampen the mood in Cape Town because payday came early. Watch Capetonians celebrating payday.

KPMG International's meeting with Pravin Gordhan

KPMG International's meeting with Pravin Gordhan

The Money Show’s Bruce Whitfield interviews Pauli van Wyk, a journalist with Scorpio at Daily Maverick.

Ocean View activist speaks: We have had 20 murders in 2017 alone

Ocean View activist speaks: We have had 20 murders in 2017 alone

Sharone Daniels, a community activist in Cape Town's Ocean View says they need police intervention to end gang violence.

[WATCH] Day-Zero for water running out fast approaching?

[WATCH] Day-Zero for water running out fast approaching?

A government employee emailed John Maytham about what he or she believes is the real state of play with the Cape water crisis.