No-one ever wants to have an emergency – much less the cost, expense, and the stress that one can bring. Often, emergencies and unforeseen expenses strike when they’re least expected, and can complicate our daily lives and our budgets. While short-term credit can help you navigate an unforeseen expense and take back control, an equally powerful tool you can use is to develop – and use...
Read More..Herman Mashaba, Aug. 22, 2016. (Photo by The South African) Herman Mashaba Though he may be more familiar by his recent title as the Mayor of Johannesburg, Herman Mashaba is one of South Africa’s foremost entrepreneurs – having established the prolific hair product company, Black Like Me. Born in 1959 in Hammanskraal, Mashaba grew up in adversity, describing his living conditions as...
Read More..What is credit insurance? Credit insurance is a form of insurance issued by long-term lenders that is usually offered with a new loan. Credit insurance typically covers 3 life events: death, disability, or unemployment. If one of these events takes place, the loan agreement is either settled in full of the monthly repayment is paid for a period. Credit insurance typically applies to...
Read More..With South Africa preparing for a lockdown as a result of the COVID-19 pandemic, we at Wonga will continue to operate with our focus on supporting you through these challenging times. But as you can imagine, this is not business as usual for us and we have had to make some necessary adjustments which we want to make you aware of. Changes to our loan terms In this time of uncertainty,...
Read More..Each year, shortly after the President gives the annual State of the Nation Address, the Minister of Finance delivers the Budget Speech – where, as a representative of the National Treasury, the Minister will announce what allocation of funds and what taxes will either be created or altered to deliver on the aims and objectives outlined in the State of the Nation Address. This year, F...
Read More..Investing is where you purchase assets, items, or invest into funds with the hope of growing your money through interest – but what are some of the most popular options that new and experienced investors choose? In this article, the 6 investment forms we’ll look into are: Money market accounts Unit trusts Share trading Index funds Foreign exchange trading Property Remember, there’s...
Read More..South Africans can use many inventive ways to save money – from joining a stokvel to managing data expenses, we provide some great suggestions. Join a stokvel A ‘stokvel’ is a saving scheme or club in South Africa, where members (usually up to 12) will each contribute money towards one single fund on a regular basis, which can be daily, weekly, or monthly. The term ‘stokvel’ refers to...
Read More..The Repo Rate and Prime Lending Rate can affect home loan and vehicle finance repayments – but what do these terms mean? We explain in more detail. What is the Repo Rate? When you borrow money from a commercial bank, that money isn’t waiting in a vault – instead, commercial banks, such as Standard Bank, FNB, Capitec, ABSA or Nedbank will instead borrow large sums of money from the S...
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