In this episode of "My Money, My Lifestyle," host Maya Fisher-French welcomes tax expert Andre Bothma to discuss the implications of recent tax proposals on personal finances as the new tax year begins. 

Maya and Andre explore the concept of fiscal drag, where taxpayers find themselves paying more due to the lack of inflation adjustments in tax tables. They clarify common misconceptions about salary increases and tax brackets, emphasizing that the tax implication of earning more should not stop you from taking a salary increase. The conversation also touches on existing wealth taxes in South Africa, the impact of capital gains tax, and the notion that middle-class individuals often bear the brunt of tax burdens.

Listeners will gain insights into the complexities of tax compliance, the importance of making informed financial decisions without letting tax implications dictate choices, and the potential consequences of not adapting tax legislation to accommodate the growing self-employed and freelance workforce.

Join Maya and Andre as they unpack these pressing financial topics, providing listeners with valuable information to navigate their personal tax situations effectively.

In this episode of "My Money, My Lifestyle," host Maya Fisher-French engages in a deep dive into the complexities of the national budget and its implications for taxpayers with Chris Axelson, the acting head of tax and financial sector policy at National Treasury. As the government navigates the contentious landscape of tax collection, Axelson sheds light on the recent adjustments to the budget, including a shift from an ambitious VAT increase to more modest measures aimed at generating 28 billion rand in revenue.

They explore the delicate balance between raising taxes and maintaining economic growth. They discuss the implications of various tax instruments, such as personal income tax, corporate tax, and VAT, and how these decisions are made amidst pressures from both revenue needs and household impacts. Axelson explains the concept of fiscal drag and how it effectively raises personal taxes without changing rates, often leaving taxpayers unaware of the increase.

 

Listeners will gain insights into the priorities for the additional tax revenue, including funding for essential services such as education and healthcare, as well as the challenges of addressing corruption and inefficiencies within government spending. Chris also addresses the importance of tax compliance and the role of SARS in improving revenue collection.

 

Join Maya and Chris Axelson as they unpack these critical financial topics, providing listeners with a clearer understanding of how budget decisions affect their wallets and the broader economy.

 

1. Overview of the national budget and tax implications

2. The shift from VAT increase to alternative revenue measures

3. Understanding fiscal drag and its impact on personal taxes

4. Balancing tax increases with economic growth

5. Priorities for additional tax revenue allocation

6. The role of SARS in improving tax compliance

7. The complexities of government spending reviews

 This podcast is in partnership with National Treasury.

In this episode of "My Money, My Lifestyle," Maya Fisher-French has a thought-provoking discussion with financial expert Hugh Hacking of Momentum Corporate about the recent interest rate cuts and their implications for retirees and investors. 

With prime rates dropping from 11.75% to 11%, the conversation unpacks how these changes affect both life and living annuities.

This episode explains how annuities work, how interest rates influence their pricing and attractiveness as well as the differences between life and living annuities. 

Listeners will gain insights into the balance between guaranteed income and the risks associated with living annuities, including the potential for running out of funds during retirement.

The episode also highlights the importance of blending different annuity types to create a sustainable retirement income strategy. Hugh shares practical advice on how retirees can optimize their portfolios, manage costs, and ensure they have enough resources to cover unexpected expenses.

Join Maya and Hugh as they unpack these critical financial concepts, providing listeners with the knowledge to make informed decisions about their retirement planning.

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.