South Africa’s national debt has surged from R1.6 trillion (43% of GDP) in 2014 to R5.6 trillion (75% of GDP) in 2024, a 250% increase over a decade. Debt servicing now costs R356 billion annually, consuming over 20% of government revenue. Projections indicate the debt-to-GDP ratio will peak at 75.3%…
Week 51 : Stop Losing Out on RAF Claims: Keep More of What’s Yours.
Did you know that if you claim from the Road Accident Fund (RAF), up to 25% of your payout could go to attorneys as contingency fees? In 2023, out of the R22 billion paid for loss of income claims, an estimated R5.5 billion was lost to legal fees—money that should…
Week 50 : Navigating Road Accident Fund Claims
Navigating the financial aftermath of road accidents in South Africa often involves engaging with the Road Accident Fund (RAF). The claimants frequently enter into contingency fee agreements with attorneys, which can result in substantial portions of the compensation being allocated to legal fees. Contingency Fees: Attorneys often charge up to…
Week 49 : 700 Lives Lost: Reducing Passenger Fatalities This December
December is a festive season filled with joy and travel, but it’s also a tragic time on South African roads. Over 700 road fatalities were recorded in the first three weeks of December 2023 alone, with passengers accounting for a significant portion of these deaths. Avoid Night Driving: Reduced visibility…
Week 48 : The Road to Protection: Everything You Need to Know About Vehicle Insurance in South Africa.
In South Africa, over 60% of vehicles on the road are uninsured, leaving millions vulnerable to financial loss. Vehicle insurance is more than just a financial product—it’s a safety net that can save you from devastating costs after accidents, theft, or unforeseen events. The table below aims to illustrate price…
Week 47 Insuring Your Journey: Protecting Commuters
During Transport Month, South Africa highlights the critical importance of road safety, with over 12,500 road fatalities annually and economic losses exceeding R142 billion. Commuters face risks from accidents caused by driver fatigue, unsafe vehicles, and poor road conditions, making adequate insurance essential. Insurance solutions such as Road Accident Cover…
Week 46 – Post-Matric Career Choices
As your child approaches the end of their matric year, it’s natural to feel both excitement and concern about the future. Understanding the various educational paths and their potential career outcomes can help in making appropriate choices. Understanding Qualification Levels: 1. Higher Certificates (NQF Level 5): Duration: Typically one year.…
Week 45 – Part-Time Study Costs in South Africa
Pursuing part-time undergraduate studies in South Africa is a flexible As of 2021, the University of South Africa (Unisa) reported a total enrollment of approximately 373,000 students, with a significant portion studying part-time. However, the increasing demand for flexible learning options suggests a substantial number of South African students are…
Week 44 -The Cost of Sending a Child to University in South Africa: A Financial Overview
With university costs on the rise, parents of South African students need a clear plan for tuition, accommodation, and other expenses over a three-year degree. Here’s a breakdown of average costs and smart strategies to help families prepare for this investment in higher education. University expenses in South Africa are…
Week 43 -The Road Accident Fund: Your rights
The Road Accident Fund (RAF) allocates a substantial portion of its budget to cover healthcare expenses for accident victims. Specifically, victims can claim for past and future medical expenses incurred due to injuries sustained in road accidents. The RAF provides compensation through a Section 17(4) undertaking, which ensures that victims…