Browsing: Finance Tips

Finance Tips Raising_the_bar_How_to_protect_bank_accounts_in_bankruptcy
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The bankruptcy process has a number of pros and cons. While it provides a great way to start all over again, it also results in harsh and negative effects on credit scores. Depending on the type of bankruptcy one files for, there may be…

Finance Tips Raising_the_bar_How_many_types_of_bankruptcies_are_there
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Bankruptcy serves the purpose of resolving the issue of insolvency. In legal terms, the latter means that an entity owes more money than they have in assets.  When an individual or business cannot afford to repay its debts, a fresh financial start may be provided by…

Finance Tips Raising_the_bar_.how_your_your_credit_score_is_calculated
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A credit score summarises all the details contained in your credit report.  It is a numerical value between 300 and 850 and is an indicator of risk level.  How your credit score is calculated:  35% is based on past repayments  This examines timely payments and is the major deciding factor. …

Finance Tips Raising_the_bar_what_is_the_current_interest_rate_in_sa
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A country’s central bank sets interest rates. In South Africa (SA), Interest rates are determined by the South African Reserve Bank (SARB). Although the decision to raise interest rates isn’t the Reserve Bank governor’s alone.  Interest rates drive economic growth as a country’s current interest…

Finance Tips Raising_the_bar_Myths_about_interest_rates
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Interest rates affect many parts of our financial lives to getting that home, car or personal loan to even saving. All these things work on interest and this is fact. But with every fact there’s a myth too. So let’s…

Finance Tips Raising_the_bar_Key_ratios_to_analyse_creditworthiness
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Ratios are tools that can be used to assess financial conditions. They may also be best for making comparisons of companies within an industry.  The use of ratios is useful for making decisions about whether to grant credit or not. In addition to assessing affordability, creditworthiness…

Finance Tips
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Bank accounts available for children As a parent it’s important to choose the right bank account for your child and to help them manage it properly. Banks in South Africa are doing a poor job of teaching and incentivising children…

Finance Tips
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Bankruptcy enables recovery from financial setbacks and for people to begin getting back on track financially. It is also regarded as a legal dismissal of debts. The term is often used interchangeably with the term “insolvency,” even though they don’t…

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