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As a central knowledge portal to the retirement and related industries, EBnet publishes a range of daily articles submitted by a range of industry organisations, experts and contributors. Readers can also comment on and contribute to articles.

One of the most important life lessons you will have to teach your child is the value of money. The most effective way to teach financial management is by giving them an allowance. How much you give them and how often you give them money will depend on your own financial circumstances. Below are three important factors to consider.


Choose an amount appropriate for your child’s age


Consider what your child will have to cover with this allowance. The allowance of a 7 – 13 year old will differ from a 13 – 16 year old. Ask yourself the following: 

  • Could your child perhaps contribute to his/her...

South Africa’s inheritance laws apply to every person who owns property in South Africa.

The three main statutes governing inheritances in South Africa are:

  • The Administration of Estates Act (Regulates the disposal of the deceased’s estate in South Africa)

  • The Wills Act (Affects all persons with a will for their property in South Africa)

  • The Intestate Succession Act (Governs the distribution of estates of all deceased persons who have property and who die without a will)

What is Inheritance Tax?

This is a tax placed on a person who inherits assets from a person who has died. In So...

1. Being unafraid of accumulating debt

Less than 10% of South Africans can expect to stay financially independent when they retire. Often, this is because of poor decisions that were made many years before. 

As a whole, our society spends far too much on credit, often on things we don’t really need. Many of us have an unhealthy relationship with money, and the wrong attitude towards debt. Added to this, the increasing cost of living has left the majority of South Africans financially vulnerable.

But debt can trap you in a vicious cycle. According to statistics compiled by debt management firm, De...

Bad advice is worse than none at all… especially when it comes to your financial security. Make sure you choose a reputable, reliable financial advisor by sticking to the steps below.

When it comes to financial assistance and advice, as with anything else, it pays to shop around a bit before you make a decision. And it goes without saying that you should only be trusting someone who is a CERTIFIED FINANCIAL PLANNER. So once you’ve found a few of these (try looking at http://www.fpi.co.za/) here are the top ten queries you should resolve before you accept their services:

  1. EXPERIENCE: CFP® prof...

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