Wealthy Maths: Nominal vs effective interest

Kristia van Heerden Latest, Wealthy Maths

A few years ago a local bank claimed to offer an exceptional interest rate on a cash savings product. A brief investigation by excited savers quickly revealed what they suspected: the claim sounded too good to be true because it was too good to be true. A difference between nominal interest and effective interest is ...

Wealthy Maths: Drop a tax bracket

Kristia van Heerden Latest, Wealthy Maths

It’s a common misconception that contributing to a pension or retirement fund means you get money back from SARS. It makes it seem like pension fund contributions trigger a cash rebate. In reality, contributions to retirement funds reduce your tax liability. The reason you get money back at the end of the year is because ...

Wealthy Maths: COVID-19 action plan

Kristia van Heerden Latest, Wealthy Maths

Many of our best-laid financial plans got wrecked by COVID-19. Not achieving our financial goals or facing financial insecurity during this period is extremely stressful, but a good financial plan can be adapted to all circumstances.  Since each situation is different, this Wealthy Maths post won’t include a calculation per se. Instead, we’ll be sharing ...