Quick answer: The Unemployment Insurance Fund pays temporary relief to workers who lose income through retrenchment, illness, maternity, reduced hours, or death of a contributor. You claim UIF free through uFiling online or at a…
Quick answer: The two-pot retirement system started on 1 September 2024. New contributions split roughly one third into a savings component you can access once a tax year, and two thirds into a retirement component…
Quick answer: A loan shark (mashonisa) is an unregistered lender who charges illegal, sky-high interest outside the law, often keeping your ID, bank card or SASSA card as security and using intimidation to force payment.…
Quick answer: A tax-free savings account lets your money grow, interest, dividends and gains, without being taxed, and withdrawals are not taxed either, within set annual and lifetime contribution limits. Over many years, avoiding tax…
Quick answer: Funeral cover is insurance that pays a lump sum when a covered person dies, to help pay for the funeral. You pay a monthly premium; the policy pays out a set amount, usually…
Quick answer: Financial abuse (economic abuse) is when someone uses money to control, limit or harm another, controlling all the money, preventing a partner from working, hiding accounts, or using money as a threat. It…
Quick answer: Bank charges, monthly account fees, cash withdrawal fees, card and transfer fees, and penalty fees like declined debit orders, seem small individually but add up to a real amount over a year. You…
Quick answer: The cost of living is what daily essentials, food, housing, transport and electricity, cost you, and in South Africa it keeps climbing while incomes lag. Coping means attacking the biggest costs first, cutting…
Quick answer: A stokvel is a South African savings club where members contribute a fixed amount regularly into a shared pool, then receive a payout, in cash, groceries or a rotated lump sum, at an…