Google it: Taxes & Personal Finance

This series was inspired by videos ironically found on the internet. These clips often complained about the irrelevance of the school curriculum. They throw tons of criticism at the requirement to learn topics like Pythagoras theorem, photosynthesis or Australopithecus’s facts.

5c3220caeeaf156db0e45a547f194430It is clear that the internet is harbouring a cynical youth disinterested in acquiring knowledge well; just for the hell of it! So we’ve decided to begin answering some important questions on “How to Adult and stuff”.


In South Africa it has become quite taboo to speak about money in general conversation unless it somehow involves blessers and Gold diggers. Many people in our beautiful South Africa would prefer to “look wealthy” than actually be wealthy. In Economics a general household income equation looks as follows: Income= Consumption +Savings

Savings? What’s savings?

The South African Savings Institute gives a number of reasons for the low savings rate in SA:

  • Low disposable income growth;
  • Low employment growth;
  • A rising tax burden;
  • An inflationary environment; and
  • Lack of confidence in the future.

So if you’re lucky enough to be making some Madiba’s as a young person in South Africa; be sure that you are maximising your potential future financial growth. You should be setting financial goals and aiming everyday to meet them. These may include the following:

  • Get Out of Debt – Completely….
  • Plan For Early Retirement….
  • Have a Well-Stocked Emergency Fund….
  • Create Multiple Income Streams or…
  • Have Enough Money To Travel.

It is important to remember that everyone’s situation is different. We are encouraging you to do your homework and research financial solutions that could work the best for you. Ask as many questions as possible and always take the time to think things through before purchasing financial products (We would say be the most wary of telephone insurance deals that may not allow you to take the time to read through the documents and compare). Stay confident and be attentive while making queries at financial institutions. Again, do not be afraid to ask for assistance.

Do not look down on yourself if you can’t afford a “Vrrr phaa”  because you have family responsibilities. In a perfect world we would all have rich parents to buy us cars in our youth like Mtv’s “Sweet Sixteen” reality show. In order to meet your financial goals you will need to stay level headed, mature and patient. As young people we may be overly focused on making more money instead of considering cutting back on our spending as a means to achieve our financial goals. Make yourself available for opportunities that could enrich your financial future, however, we would strongly recommend that you stay away from multilevel marketing companies like Herbalife and Amway. For full details please watch this humorous and incredibly accurate reasoning.

The reason most Multi Level Marketing companies are looked down upon, is that their business models are built around a constant influx of new recruits; as opposed to the product itself.

They make their profits selling “starter packages” or “business kits” to people looking to get rich. These people are basically employees, distributors, investors; who wouldn’t buy the product if they were simply customers. No business is sustainable without customers.

How many people do you know who buy Verve, Nerium, Mary Kay or any other MLM derived product, who aren’t sellers themselves or closely related to a distributor? Even HerbaLife, which is the “best of the worst” in the MLM space, has no unique product. They are overpriced compared to similar supplements at GNC but get away with it by selling a dream to people looking to make money. – George Weisgerber III, develops Digital Marketing Strategies for local businesses&national brands in America

As for taxes; it seems that SARS is one of the most efficiently run Government Departments in South Africa and so there is plenty of information available online to assist you in your endeavours. There are numerous branches across the country and waiting times in queues has decreased since the introduction of eFiling. For more information on the eFiling process and an eBook on personal finance, please have a look at the documents attached below:



That’s all folks. Let us know what other “Adulting and stuff” topics you would like us to cover in the next blogs.

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