Nic Haralambous, a well known South African serial entrepreneur decided to share his knowledge with others by writing “How to Start a Side Hustle” when his primary source of income, public speaking, dried up in 2020.

In this episode we discuss some of the principles in his book: redefining failure and setting realistic expectations, managing risk, proper preparation, physical health and being consistent.

If you have started a side hustle or are planning to start one, I hope this episode and Nic’s book gives you the inspiration and confidence you need to get started and keep going!

You can find out more about Nic on his website: https://nicharalambous.com/

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website:
www.familyfinanceshow.com

Subscribe on your favourite podcast platform:
https://podlink.to/FamilyFinanceShow 

Debt is one of the most important topics in personal finance, but is not well understood. Thando from Small Steps to Freedom answers a few questions you may have about debt. If you understand the power of compound growth, you must know that this applies to debt too, but in a negative way.

The longer you take to pay off your debt and the higher the interest rate you are paying, the bigger the cost of that debt is to you. Leaving aside leverage for the moment, ordinary consumer debt has a negative impact on your long term wealth. If you do one thing today, please review your current debt and the cost of that debt.

If you need to take out a loan, please make sure that the company offering to lend you money is registered with the NCA. You can verify whether the provider is compliant by calling the or visiting their website:

https://www.ncr.org.za/register_of_registrants/registered_cp.php

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website:
www.familyfinanceshow.com

Subscribe on your favourite podcast platform:
https://podlink.to/FamilyFinanceShow 

There are many similarities between long term investing and long distance running. In this light hearted episode, Stealthy Wealth, a well known South African personal finance blogger tells us about his investment goal of achieving financial freedom and the remarkable parallels investing has with marathon running. Both require a healthy dose of perseverance, especially when times get tough.  This episode contains the inspiration you need to get financially fit!

This episode was based on an article on Stealthy Wealth’s blog, which you can read here: https://www.stealthywealth.co.za/2016/08/the-investment-marathon.html

If you want to find out more about how behavioural psychology impacts your ability to make the right decisions about your investments, listen to this episode with Daniel Crosby: https://www.familyfinanceshow.com/podcast/episode/4b762181/the-impact-of-behaviour-on-investing

If you are just getting started with investing, listen to this episode: https://www.familyfinanceshow.com/podcast/episode/4b887ffa/buying-shares-a-beginners-guide-simon-brown

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website: 

• www.familyfinanceshow.com

In this episode Warren Ingram, an award winning financial planner, answers the following listener questions:

1. How should we combine our finances after our wedding?
2. Should I use my retirement funds to pay off my home loan?
3. Should I invest into my retirement savings in monthly increments or one lump sum per year? What percentage of my income should I contribute to my retirement savings?

Mentioned in this episode: https://www.news24.com/fin24/opinion/sat-am-bruce-cameron-tax-incentives-for-retirement-savings-are-enormous-20201219

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website: 

• www.familyfinanceshow.com

Subscribe on your favourite podcast platform:

• https://podlink.to/FamilyFinanceShow 

Bitcoin can be a minefield for investors. In this episode, Warren gives listeners a common sense guide to bitcoin. What is it, should we invest in it, what are the benefits and risks involved in bitcoin and will it replace the rand or dollar?

Most importantly, every investor should do adequate research and satisfy themselves that they fully understand the investment they are making.

There are benefits to bitcoin, such as making it easy to make payments across borders; and risks such as regulatory risks and governance risks that come from the anonymity inherent in Bitcoin.

Make sure that you don’t get scammed by the many websites and people trying to sell you Bitcoin investments, always go through reputable companies.

Mentioned in this episode: https://www.linkedin.com/pulse/what-i-really-think-bitcoin-ray-dalio/

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website: 

• www.familyfinanceshow.com

Subscribe on your favourite podcast platform:

• https://podlink.to/FamilyFinanceShow 

Tax free savings accounts are an excellent way to save and invest, most especially if you plan to invest for a long time. As Zama Dikana from Old Mutual explains, they attract no tax which gives you a higher return on investment than you would otherwise get.

If you don’t already have one, and you have extra cash, no matter how little, available to save and invest, you should certainly open a tax free savings account (“TFSA”).

Zama discusses the rules and limits for TFSAs, how to invest on behalf of your children and he answers some questions from a loyal listener.

Mentioned in this episode: If you’re just getting started with investing, listen to this episode we did called “Buying Shares a Beginner Guide”

https://www.familyfinanceshow.com/podcast/episode/4b887ffa/buying-shares-a-beginners-guide-simon-brown

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider and Life Insurer. This material is not intended as and does not constitute financial advice or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. Product information provided by the contributor only serves to inform you of Old Mutual products but does not replace the terms and conditions and technical detail applicable to the products or services mentioned. It should not be construed as a offer or recommendation to buy or sell the products featured without obtaining the recommended financial advice. 
 
The views expressed by the contributor are his or her own, and may not necessarily reflect the views held by Old Mutual.

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website: 

• www.familyfinanceshow.com

Subscribe on your favourite podcast platform:

https://podlink.to/FamilyFinanceShow

In this episode we explore how to successfully get started with property investing. There are many different ways to get started with property investing and they each require a different amount of time and expertise and level of commitment.

Our guest, investment banking lawyer and property investor, Vusi Mathebula tells us about some of the pitfalls and mistakes he has seen from beginner investors. We also discuss how you can calculate the return on investment when looking at property, and Vusi has some good recommendations on buying property together with other investors, also known as property stokvels.

You can find plenty more useful information on his website: https://propertylink.africa/

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website:
www.familyfinanceshow.com

Subscribe on your favourite podcast platform:
https://podlink.to/FamilyFinanceShow 

Jenny Rushin from Betterbond joins us in this episode. Betterbond is a home loan originator and submits thousands of home loan applications every month on behalf of their customers and so Jenny is well positioned to give us tips on how to get a home loan.

Getting a home loan to buy a house is a very important step for most families. Since hardly anyone can buy a house for cash, most of us need to approach a bank for a home loan. If you don’t qualify for a loan at all, or can’t get the size loan you need, Jenny suggests doing a proper budget where you clearly note all your earnings and expenditure. If there is not enough room to service the debt on a home loan, she suggests reducing your current debt as much as possible and reducing any other unnecessary monthly expenses so that your cash flow looks healthy.

Just as important is to make sure that you don’t take on too much debt. Make sure that you can still make your repayments even if the interest rates go up, or if life happens and you have unexpected expenses in a month. Try to get the best deal you can on interest rates as this will have a huge impact on the interest you pay every month. 

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website:
www.familyfinanceshow.com

Subscribe on your favourite podcast platform:
https://podlink.to/FamilyFinanceShow 

Anyone who started life with very few financial means, or with a large debt burden, will want to make sure their children have a better start in life than they did. This episode is all about generational wealth. Generational wealth is an asset (which could be property, cash, shares, or a business) that is passed down from one generation to the next. The theory behind building generational wealth is easy: acquire assets that you don’t intend to spend in retirement and pass these on to your children when you die. 

In practice this is much harder to achieve. It requires discipline and sacrifice. Unfortunately sometimes these sacrifices extend to spending long hours away from your family in order to build wealth. Even if you do achieve the goal of creating intergenerational wealth, often the inheritance is finished by the third generation. We discuss examples such as the British Royal Family, Warren Buffet and a local example, the Oppenheimer family. If you plan to leave a large inheritance that could last a few generations, it is important to remember that your heirs should have a strong sense of purpose to fulfil. Equally important is that your children should understand their privilege and have a sense of social responsibility. 

However, your goal doesn't need to be to pass on millions to the next generation. You can start with a small amount, saved monthly and compounded over a very long time, such as 50 years. This can be put aside for the education of your grandchildren, or something else that is important to you. 

If you decide to do this, you can place the money into a trust, or company, managed by others, and with a clearly documented constitution. It is important that the constitution, or principles, of this trust is known by all members of the family. Be crystal clear about what you hope the money you leave will achieve for your heirs. Transparency is extremely important. In fact, it is so important that Warren says the family should know the goals of the trust fund by heart.

Also remember that there are other legacies you can leave your children: wonderful childhood memories, a good education, soft skills such as resilience or resourcefulness and good personal financial management discipline. These are just as important. You may choose to spend time with your children above leaving them a financial legacy. Each family will make a different choice, but remember that as Ray Dalio says, “I learned that if you work hard and creatively, you can have just about anything you want, but not everything you want.”

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website:
www.familyfinanceshow.com

Subscribe on your favourite podcast platform:
https://podlink.to/FamilyFinanceShow 

Advocate Monica Moodley joins us to give her perspective on wills. Everyone, at all stages of life, should have a will. If you die without a will, your estate which is defined as the assets (or debt) you own at time of your death, will be distributed in terms of the Intestate Succession Act. 

Monica explains the requirements for a valid will, and when you should consider getting legal advice to create a will. If you have children, it is even more important to have an up to date will, that includes instructions for the child’s legal guardian. 

Your marriage regime (whether you are married in or out of community of property and whether accrual is applied) has a significant impact on your will and estate. Also important to note is that retirement funds are treated differently from your estate, and are distributed according to the trustees decision. Monica explains what happens if you die with debt and the difference between a living will and a regular will. 

Disclaimer: Old Mutual Life Assurance Company (South Africa) Limited is a Licensed Financial Service Provider. This material is not intended as and does not constitute financial advice  or any other advice and is neither exhaustive nor prescriptive. It does not take into account your personal financial circumstances. Your financial adviser will assess your financial situation and needs and assist you to draw up a plan to help you achieve your financial goals. The views expressed by the contributor are his or her own (as an independently registered financial services provider, financial adviser or other independent capacity), and not necessarily endorsed by Old Mutual (as a separate financial services provider).

Join us on twitter for real conversations about family finances:

• @FamFinanceShow
• @DianaGranoux

Website:
www.familyfinanceshow.com

Subscribe on your favourite podcast platform:
https://podlink.to/FamilyFinanceShow