Your credit card is not a vehicle for testing your limits.
Your credit card can be a useful string to your financial bow – if, as with all things monetary, you manage it properly. Rather than using it as a licence to get into debt, it can help to cover unexpected expenses.
In an online survey conducted by FNB, it was found that 39% of respondents use their credit cards in emergencies, 36% for everything, 17% for online shopping while only 8% use it for big purchases.
On the other hand, the South African Savings Institute’s stance is that buying on credit helps the banks and retailers, but not you. A report on its website savingsinstitute.co.za says: “When you save or invest, interest works on your behalf. You get paid interest on your savings. However, accepting credit makes interest work against you because you are paying the interest to somebody else. Buying on credit also means that you could be living beyond your means. Should you be forced into a credit situation, it is to your advantage to get out at the earliest opportunity.” This shows that management is key.
Credit card users who swipe for all purchases have the right idea, according to Chris Labuschagne, CEO of FNB Credit Card. “Using your credit card daily can be beneficial, but you need to exercise financial discipline.” This does not mean that you can get rid of your cheque account in the interests of saving fees. You still need a transactional account to receive your salary and run your debit orders. Some banks offer interest on transactional and savings accounts (as opposed to just savings accounts) – a benefit you won’t gain from a credit card.
FREE UP YOUR PERSONAL CASH FLOW
Continue reading your story on the app
Continue reading your story in the magazine
Damage At Work: Who Pays?
What happens when you damage company property or property that belongs to your employer? Are you liable for the costs?
Safety Tips When Driving With Kids
The roads we drive on can be quite treacherous. Car safety is not only limited to you as a driver, but also your passengers including your children. Vuyi Mpofu gives us six safety tips that you must abide by.
The Impact Of The Coronavirus
When COVID-19 hit South Africa, it came as no surprise that the virus would impact vulnerable communities such as townships and rural areas the hardest. The frequently asked questions since then have been whether the government has given enough information and resources to the people in disadvantaged areas or not. Everson Luhanga investigates further.
Financially Surviving Covid-19
Our finance guru, Sinesipho Maninjwa, shares advice on how you can navigate and survive the financial impact of the coronavirus.
All I Want Is A Baby
Trying to conceive with no success, and undergoing fertility treatment can take its toll on your relationship. This is the reality for many couples, and yet it remains a taboo subject.
THE TRUTH ABOUT - feminine hygiene products
Despite numerous attempts by medical professionals to debunk the need for feminine hygiene products, numerous women still use them. Lethabo Nxumalo finds out why and if they are truly putting you at risk.
THREE GENERATIONS OF MTOBA women
Linda Mtoba (27) is a mom, and she’s extremely happy about it. She chats to Amanda Mtuli about her pregnancy and what motherhood has taught her thus far. She also introduces us to her beautiful daughter, Bean. We are lucky to have the matriarch of the family, Linda’s mother Celiwe Mtoba (47), present during the interview. She lovingly gushes over her first grandchild while giving us insight into what it was like raising Linda.
THE OLDER SIBLING Blues
Expecting the arrival of your bundle of joy may be exciting for you and your partner, but might not be so thrilling for your older child. Experts say kids sometimes struggle to accept the changes that a newborn brings. Fundiswa Nkwanyana spoke to some of them to help you prepare your firstborn for the new family member.
Owning THE SPOTLIGHT
Film and TV star Fulu Mugovhani (29), currently graces our screens as Noli on the M-Net series, Still Breathing. The former Scandal! actress talks about getting into showbiz and lessons learnt on and off the stage.
Life After losing a child
A parent’s worst fear is the death of a child. And, when that fear becomes a reality, grief becomes unbearable and acceptance seems impossible. Four readers share intimate details of their journeys.
The New Fighter At the CFPB
Rohit Chopra wants to know more about tech companies’ plans for financial products
Next on Your Plate: Bug Burgers
The faux-meat industry is starting to explore fruit fly patties and mealworm nuggets
Ready Aim Omicron!
Drugmakers always knew variants would arise. The latest will test their preparedness
Crossing Borders With Crypto
A Mexico-based startup says it can send remittances from the U.S. cheaper and faster
A Crash Course in Omicronomics
Sussing out the impact of the new coronavirus variant on growth and inflation
Treasure Hunters Of the Stalled Supply Chain
For salvage companies, an unclaimed shipping container is a potentially profitable mystery box
In the EV Age, Hyundai Still Has High Hopes for Hydrogen Cars
The South Korean automaker sees fuel-cell technology as key to decarbonizing global transportation
The Next Accounting Fiasco
Twenty years after Enron’s failure, investors are still vulnerable to corporate numbers games
When Same-Day Delivery Is Too Slow
Gopuffis trying to outrace its competitors in the “dark convenience store” business
Health The growing influence of Apple on healthcare
In a 2019 interview with Mad Money’s Jim Cramer, Apple CEO Tim Cook said: “If you zoomed out into the future, and you look back, and you ask the question, ‘What was Apple’s greatest contribution to mankind?’” After a short pause, he answered his own question: “It will be about health.” Two years on, his vision is already becoming a reality for the company.