In this episode of "My Money, My Lifestyle," host Maya Fisher French interviews Adrian Hope-Bailie, founder of Fynbos Money, a new investment platform designed to simplify and reduce the costs of investing. 

Adrian shares his journey of creating a platform that addresses the common question: "Where do I start investing?" 

With countless unit trusts and investment options available, it is unsurprising that people feel overwhelmed by choice. The need to simplify choice and administration motivated Adrian to create Fynbos Money, which focuses on emergency and tax-free savings accounts. 

The key behind the Fynbos Money model is that it allows users to set up a single debit order that allocates funds to various savings and investment goals, users can focus on their financial future without the stress of managing multiple accounts.

 

Listen to the full podcast, where Maya asks Adrian deeper questions about who is behind Fynbos Money, how they keep investors' funds safe, how they select funds, and their future plans. 

1. Introduction to Fynbos Money and its mission

2. The common question: Where to start investing?

3. Importance of emergency funds and tax-free savings accounts

4. Unique features of Fynbos Money: automation and goal tracking

5. Understanding fees and the subscription model

6. Fund selection and investment safety

7. Empowering users for financial wellness

 

 

In this episode of "My Money, My Lifestyle," host Maya Fisher French chats about side hustles with Willem Gous, author of "Side Hustle Success." With nearly half of employed South Africans engaging in side businesses, the conversation explores practical strategies for starting a side hustle on a shoestring budget without significant risk.

Maya and Willem discuss the importance of testing business ideas quickly, emphasizing that waiting for funding or a perfect plan can stall progress. Willem shares insights from his book, highlighting that potential entrepreneurs should leverage their existing resources and focus on understanding customer needs rather than getting bogged down in traditional business planning.

Listeners will learn about the significance of setting time limits for their side hustles, the value of starting small, and the power of listening to customers to identify viable business ideas. Willem offers practical examples, including how one woman turned her baking hobby into a thriving business without the need for initial funding and how to start a clothing brand without owning stock. The episode also addresses the psychological barriers that often hold aspiring entrepreneurs back and provides actionable advice on overcoming these challenges.

The bottom line is that if ​you ​can't ​start ​your ​business ​in ​five ​minutes, ​​you may ​need ​to ​move ​on ​to ​a ​different ​business.

Join Maya and Willem as they demystify the side hustle journey, encouraging listeners to take action, embrace experimentation, and ultimately, find financial freedom through entrepreneurship. 

Why are so many people who earn a good income, who would be considered high-net-worth individuals, struggling with debt? We all believe if we earned a bit more, our financial issues would disappear, yet this appears not to be the case.

In this episode of "My Money, My Lifestyle," host Maya Fisher French is joined by certified financial planner Johan Werth to understand why so many high-net-worth individuals are struggling with debt. With debt levels rising faster among higher-income earners than their lower-income counterparts, Maya and Johan unpack whether this is a financial or behavioural issue and what steps can be taken to address it.

Johan shares his insights into the lifestyle inflation that often accompanies increased earnings, leading many to live beyond their means despite substantial incomes. They discuss the impact of rising living costs, the temptation of easy credit, and the societal pressures to maintain a certain lifestyle. Maya and Johan emphasize the importance of financial literacy, tracking expenses, and the critical need for a financial plan to avoid the debt trap.

Listeners are encouraged to reflect on their own financial habits, consider the long-term effects of lifestyle creep, and take proactive steps to build a sustainable financial future. Johan offers practical advice on budgeting, understanding personal inflation, and the significance of starting to save early, even with small amounts.

This episode offers insights into how individuals, regardless of their income level, can break the debt cycle and achieve financial stability. Tune in to discover how you can take control of your financial destiny and make informed decisions that align with your life goals.

 

✍️ Episode References

 

Debt Busters: https://www.debtbusters.co.za/

City Press Money Makeover

To kickstart 2025 with financial wisdom Maya Fisher French sits down with Fulu Mashapha, author of "Mind Your Cents: A Practical Approach to Financial Freedom." 

Fulu wrote her book based on her experiences of money as a young child and as a graduate starting her career. In this podcast Fulu shares with Maya her journey from university to becoming a financially savvy actuary and her experiences of navigating the world of finance as a young professional. From understanding the diverse personalities money can take on to the importance of managing your finances no matter your income level, Fulu's experiences offer relatable and actionable advice for young professionals.

Fulu recounts her first year of work, the unexpected costs of adulting, and the reality of lifestyle inflation. Learn about the critical steps she took before buying her first car and property, and how she navigated the pitfalls and challenges of property investment. Fulu also sheds light on her investment strategy, balancing between professional management and personal experimentation, and the importance of long-term planning. 

Whether you're just starting out in your career or looking to refine your financial strategy, Fulu's story is a testament to the power of informed decision-making and financial literacy. Tune in to gain invaluable insights and start your year on the right financial foot.

You can purchase Fulu's book Mind Your Cents by clicking here: https://mashelenigroup.co.za/product/mind-your-cents/ 

Join hosts Maya Fisher French and Mapalo Maku in this special episode as they reflect on the incredible journey of Santam staff members who participated in the six-month Santam Insure Your Future Money Bootcamp. This transformative experience culminated in a final event that celebrated the courageous individuals who opened up their financial lives to scrutiny, embraced change, and achieved remarkable personal growth.

The episode shares the mentees' powerful testimonials about their newfound financial empowerment. Discover how the bootcamp helped them overcome fears and shame around money, leading to improved financial literacy and self-discovery. Participants learned to read the fine print, question financial entities, and understand the implications of their financial choices. This newfound confidence allowed them to have open conversations about money, not just with themselves but also with their families, breaking cycles of poverty and setting a positive example for their children.

Throughout the episode, Maya and Mapolo share invaluable tips and insights from the bootcamp, including the significance of reviewing bank statements, managing subscriptions, and understanding debt statements. The episode also addresses the psychological aspects of money management, encouraging a positive mindset and intentional financial planning.

Join us in this episode to learn how you can transform your financial mindset, gain control over your money, and embark on your journey to financial empowerment. Listen now and be inspired by the incredible stories of those who have taken charge of their financial futures.

The Psychology of Financial Decisions

In this episode of the "My Money, My Lifestyle" podcast, host Maya Fisher French chats to Rudolph Geldenhuys, the Financial Planner of the Year, about the psychology behind financial decision-making. They discuss the importance of understanding the 'why' behind one's financial actions.

Rudolph, who has been in the financial services industry for over a decade, shares his journey of overcoming imposter syndrome and embracing his calling to help people make better financial decisions. His insights shed light on the fact that while technical, financial planning is crucial, the emotional and psychological aspects are equally significant. 

We look at real-life scenarios, such as the emotional choice of withdrawing retirement funds for immediate desires and the need for a balanced approach to financial planning that considers both short-term and long-term consequences.

Listeners are encouraged to reflect on their financial motivations and the trade-offs they are willing to make. Rudolph introduces the concept of the 'decision-free zone,' a framework to help people categorise their financial decisions based on urgency and impact. This practical advice empowers listeners to manage their resources—time, money, and energy—more effectively.

The episode also explores the universal question of financial security: "Am I going to be okay?" Rudolph emphasises addressing this concern by aligning financial decisions with personal values and life goals. He advocates for a holistic approach to financial planning that goes beyond numbers, focusing on the human element and the pursuit of a meaningful life.

Whether you're facing retirement, contemplating a major purchase, or simply seeking to improve your financial well-being, this episode offers valuable insights and actionable advice. Tune in to gain a deeper understanding of the psychology of money and learn how to make decisions that truly serve your best interests.

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future. 

In our previous episodes we have spoken about building wealth, but what about succession and building intergenerational wealth? How do you protect your family but also transfer wealth to future generations?

We are joined by Moremadi Mabule, a fiduciary expert, to explore the complexities of wills, estate planning, and the often-overlooked aspect of tax implications upon death. 

Estate planning is not just for the wealthy; it’s about ensuring that your accumulated wealth is passed on to future generations. 

In writing up a will and planning your estate you also need to look at issues such as estate duty, and the impact of executor fees, which can be as much as 4% of your entire estate. Moremadi explains how to navigate these costs and the strategies you can employ to minimise them, such as negotiating executor fees and planning for tax implications. 

The episode also covers the importance of keeping your retirement fund nomination forms up to date, as well as understanding how retirement benefits are treated differently from other assets in your estate. We explore the concept of testamentary trusts and beneficiary funds, which can protect your children’s inheritance and ensure it is used as intended. Moreover, we touch on the sensitive topic of selecting a guardian for your children and how to structure your will to safeguard their future financially. The discussion extends to the importance of having a living will and the role it plays in making your wishes known should you become incapacitated. Join us for this insightful episode as we uncover the steps you can take to secure your legacy and ensure your wealth benefits those you care about most.

This week Finance Minister Enoch Godongwana announced the Medium-Term Budget which is tabled every year in October. 

Most people only really care about the February budget because that is where the minister announces the changes to taxes. But the medium-term budget is packed with really important information about how government is going to be collecting and spending our money over the next three years. It also gives us some idea about what we can expect in February and whether taxpayers will be on the hook. 

In this podcast I am joined by Gcobisa Magazi, Director: Public Finance at National Treasury to discuss the medium-term budget. 

We discuss the significance of the medium-term budget, often mislabelled as a "mini budget," and explore its role as a policy statement outlining government priorities and fiscal strategies.

Key topics include the challenges of revenue collection, unexpected expenditures, and the government's strategy to manage debt, which currently consumes 21% of the budget. We also delve into the concept of fiscal anchoring, a legislative approach to ensuring sustainable fiscal policy, and the balancing act required to meet the needs of a financially vulnerable population while striving for a primary budget surplus.

Join us for an insightful conversation on the intricacies of public finance, the importance of economic growth, and the government's efforts to balance debt management with essential social and infrastructure spending. 

Welcome to the Santam Insure Your Future Money Bootcamp with Maya Fisher-French and Mapalo Makhu. This series is designed to guide you through essential financial topics, helping you make informed decisions for a secure future.

In this episode, we delve into the intricacies of retirement planning with Johann Steyn, a certified financial planner at Rainmaker Bluestar by Sanlam. As one approaches retirement, the need for strategic financial planning becomes critical – not only to understand your financial position, but also to maximize your tax options. Johann shares insights on how to prepare for retirement, whether you're five years away or just a year before. He emphasises the importance of setting realistic expectations, understanding legislative options, and the purchasing power of your money.

One of the critical discussions revolves around having a retirement budget and the importance of eliminating debt before retiring. Johann advises on the significance of understanding your expenses and what you would need to do if you planned on retiring early. The conversation also touches on the misconceptions surrounding lump sums vs income and the reality of life expectancy.

The episode further explores the different retirement products available, such as living annuities and life annuities, discussing when each is appropriate. Johann highlights the benefits and risks associated with these products, including market volatility and the potential for a hybrid approach. The importance of maintaining a medical scheme in retirement is also discussed, considering the high inflation rate of medical expenses.

In the podcast we also discuss the role of tax-free savings accounts as a supplement for retirement, offering insights into how they can be strategically used to provide tax-free income later in life.

Join us for a comprehensive discussion on retirement planning, ensuring you have the knowledge to maintain your dignity and independence in your golden years.

Welcome to the Santam Insure your Future money boot camp with Maya Fisher-French and Mapalo Makhu. 

In the last two episodes we looked at saving and investing for those goals we want to achieve during our working years. But at some point, we want to kick back and retire, or at least have choices about whether we want to continue to work or not. 

One of the massive challenges of retirement funding is that we are living way past our retirement age. Some companies have a retirement age of 60 and given that many people are expected to live to nearly 90 years old – that is 30 years of retirement you need to fund.

There are only really two ways to do this: either you start from your first paycheque and put away about 18% of your salary, or you defer retirement to age 65. But even then, you probably need to be putting away at least 15% of your salary from the age of 25 to be able to retire comfortably. Most people find they must supplement their retirement income in some way and next episode we will look at more detail around strategies at retirement, but in this podcast we discuss “how much is enough”, the importance of settling debt before retirement, how to go about investing for retirement and the various investment products. 

In this podcast we also explain the implementation of the Two Pot retirement system and how that is going to affect retirement outcomes.