I’ve mentioned in a previous article that I’ve purchased piggy banks for my 4-year-old daughter and her 2-year-old brother. For now, all we’re doing is collecting coins and, to them, it’s still a game about who’s piggy will fill up the fastest. Occasionally, we talk about what we’re going to do with all the funds collected but they’re still too young to fully grasp the actual value of the coins they’re collecting. David Whitebread and Sue […]
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Home ownership versus your ability to accumulate wealth
Owning your own home, whether it’s a bachelor pad or five-bedroomed mansion, is a deeply personal and emotional attachment we have to a space that transcends rationality. It is bigger and more important than just being about bricks and mortar. For many, home represents a great sense of achievement, independence, protection, love, a refuge and so many other intangibles. In South Africa, the vast majority of the population was restricted from owning their homes and from […]
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Winter is here
It has become evident that burning excess energy unnecessarily is a no-no (in my world anyway). I’ve hung up my running shoes and have given my gym ensembles a break for now because winter is here. And yes, I am well aware that summer bodies are made in winter ???? I’m looking to buy a few good books over the next couple of weeks to keep me occupied while sitting snuggly near the heater. And I’m […]
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The results are in!
Today, we close off financial literacy month with the results from the test some of our readers took a few weeks ago. We appreciate everyone taking the time to do the test. The financial literacy rate of our readers is 80%! I’m thoroughly impressed and pleasantly surprised. The question that some of our respondents struggled with was the last question which tests your understanding of diversification. 3) “Do you think the following statement is true or […]
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Effective ways to improve your financial literacy
Personal financial management concepts are fairly easy to grasp. Often, it’s the lack willingness to do the work that holds people back. Improving your financial literacy level does not have to break the bank or consume a lot of time. We have summarized a few easy ways to get financially fit in no time. READ/GOOGLE The world wide web is your gold mine. Just google ‘financial literacy’ and almost everything you need relating to this subject comes […]
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A test for you
Director Annamaria Lusardi and Professor Olivia S. Mitchell developed 3 questions that test an individual’s financial literacy. In their paper, “Financial Literacy Around the World: An Overview”, they found that the lack of financial literacy was a global problem, and that women consistently scored lower than men. In South Africa, roughly 4/10 of our adult population surveyed were considered financially literate. Since April is financial literacy month, we’re conducting our own survey to see if our […]
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