Now urban men are also using stokvels. But their reasons for doing so are evolving – away from saving for funerals, buying bulk groceries or paying for school fees towards utilising stokvels as investment vehicles to build wealth.  

Rooted in ubuntu  

Historically, the Afrikaans word stokvel is derived from ‘stock fair’ – referring to the 19th-century cattle auctions where British settlers pooled money to buy cattle collectively.  

Today, a stokvel is defined as ‘a community-based savings and credit association’ that is built on trust and offers support during hardship. Members contribute a fixed sum (either weekly or monthly) to the collective pot, which pays a lump sum to each member on a rotating basis or when needed — for example, for a funeral stokvel (aka burial society). In the spirit of ubuntu, everyone benefits by receiving more than they could save alone.  

Stokvels mean big business. They are worth roughly R50 billion, according to the National Stokvel Association of South Africa (NASASA). Nearly 12-million South Africans regularly put their money into the country’s more than 800 000 registered stokvels. Standard Bank, Nedbank and FNB are among the financial institutions that have recognised the value and now offer specialised stokvel accounts.  

Going digital  

“Stokvels are becoming increasingly popular because people are recognising that when they team up with others — whether colleagues, business partners, friends or family members — they are more successful in their saving efforts,” says FNB. The bank’s stokvel accounts saw total inflows growing to R13.3 billion by December 2024 (up 66% from the year before).  

Much of this growth is driven by the bank’s digital stokvel account, launched in 2020, to make transactions easier and safer. By sharing money electronically, stokvel members avoid the risk of handling physical cash and save on withdrawal fees while earning interest.  

“Members spend less time on paperwork and more time planning how to grow their money” says Cebile Magongo, strategic business developer at FNB Retail Cash Investments. As a result of this convenience, we are seeing many stokvels starting to look at expanding beyond savings, and enhancing growth by investing in shares, unit trusts and even starting businesses together.” 

More financial choice 

 A 2024 Ipsos survey found stokvels are being transformed by financial technology (digital stokvel accounts) and the use of social-media platforms (such as WhatsApp and Facebook). It also noted an increase in younger and higher-income members, who are injecting fresh perspectives, technological expertise and a desire for streamlined processes. However, cash remains the preferred mode of operation for most stokvels, says 1psos, revealing a persistent mistrust of the formal banking system.  

“Members now have a greater array of choices regarding whom to partner with on their financial journeys and how to structure their administration systems to fit the group;” says 1psos Client Officer Busisiwe Mahlaba. “Banks therefore need to address this continued member resistance with a simplified seamless experience that fosters trust and buy-in.” She adds that the continued importance of cash is a chance to introduce new products like stokvel insurance.  

Types of stokvels 

Different types of stokvels serve specific objectives:  

Burial Societies

Providing financial support during bereavement and to cover funeral expenses. 

Grocery Stokvels

Collective (cheaper) bulk buying of groceries for members. 

Savings Stokvels

Regular savings throughout the year, with disbursements based on equality or contribution. 

Rotational Stokvels

Members take turns receiving the pooled funds. 

Social Clubs

Combining social activities with financial contributions. 

Investment Clubs

Pooling funds for investment opportunities. 

@katlego_kala 6 types of stokvels. #navigatingmy30s #stokvel __________________________________ #kattalks #navigatingmy30s #dailydeviotionals #sama28 #fyp #foryoupage #fypシ゚ #southafrica #southafricatiktok #mzansitiktok #satiktok #mpumalanga #mpumalangatiktok #mpumalangatiktoker #johannesburg #johannesburgtiktok #johannesburgtiktoker #christianity #christiantiktok #christiantok #bible #motivation #verseoftheday #scriptureoftheday #christ #jesus #godlovesyou #jesuslovesyou #trendingvideo #viral_video #viralvideos #testimony #stokvel #savings #savingmoney #savingmoneytips #financialfreedom #financetiktok #finance #readyourbible #scripturereading #biblestudy #bibletiktok #biblestudytime ♬ Here I Am to Worship – Josué Novais Piano Worship

Innovation vs tradition 

Meanwhile, specialised fintech is already innovating and streamlining the stokvel market. StokFella, for example, enables existing stokvels to digitise their operations by registering on its smartphone app. A dashboard tracks each member’s balance in real time, automates debit orders and provides secure, encrypted records. But StokFella also addresses the young generation of men who enjoy the stokvel traditions but want to accumulate funds for future wealth.  

“They want stokvels to open up investment opportunities by using accumulated funds from like-minded people to invest in, say, a property where they can benefit from the growth of property values and also through rentals,” says StokFella CEO Tshepo Moloi.  

The platform encourages group investing in property, transport and logistics, as well as franchises and even start-ups. “The one constant is that everyone contributes and everyone shares the benefits.”  

The men who are investing in modern stokvels make an effort to combine fintech with staying connected to their African roots. 

Words: Silke Colquhoun 

Photography: Gallo/Getty images, Pexels 

Also read: Tips to develop a stronger relationship with money

The post How young SA men are transforming the stokvel model appeared first on TFG Media.

Let’s be real — our country’s current economy requires one to think outside the box when it comes to earning extra money. With the high rate of unemployment plus the rising cost of living, finding other streams of income can seem to be a bit of a stretch. But it’s doable, with a little help from a passive income. This might not make you an overnight millionaire, but every little bit counts, right? 

Shopify defines ‘passive income’ as money you earn without the need for ongoing work. This could be through investments, royalties, rentals or revenue, for example.  

According to My Debt Hero: “Passive income is not your job, it’s not freelancing, and it’s not an online job. You earn passive income by doing something once and then reaping the rewards years later. Having a passive income in South Africa can help you elevate your finances, help you get out of debt, and fill in the gaps that your 9-to-5 job can’t. It won’t take long for the rewards to become apparent if you keep the right mindset and are consistent.” 

Passive income doesn’t require your constant attention, which means more freedom and flexibility — and cash —for you.  

While your 9-to-5 might be the most stable income, it’s always a good idea to diversify your portfolio, as the experts say. 

But you’re a busy guy, right? There’s so much to do and so little time. You’ve got your everyday job, which keeps you in steaks and pays for that car you’ve always wanted.  

Then you might have a side hustle, something that requires more of your time on the weekend or at night.  

That creative bent for pottery or painting, making dog kennels or furniture? It’s bringing in a fair amount. Or your photography hobby has turned serious and you’re out there shooting weddings and graduations, weekend in and out — and coining it. 

Maybe your DJ skills are in demand at parties? Or you’re an educator who enjoys his job so much that he gets into creating online courses and ebooks.  

You might have a trailer that you don’t use every day — time to put that out for rental. Or you could use your car to be an Uber driver over the weekends.  

You could even venture into farming. If you live in a rural area and have access to a bit of extra land, growing vegetables or herbs will bring in money.  

With all that money coming in, you need to start thinking about how to really make it work for you.  Enter a passive income — that’s basically extra free money from your money.  

Who wouldn’t want to earn money while doing absolutely nothing? And that’s the idea behind earning a ‘soft income’ — money that works for itself.  

Your questions answered by Everest wealth  

What is the safest way to earn passive income in South Africa?
Government retail bonds and fixed deposits are the safest, though they offer lower returns.  

Which passive income options pay monthly in SA? 
Monthly dividend stocks, unit trusts, REITs (real estate investment trusts) and property rentals are popular options. They are also the best investment options, depending on your risk profile. 

Can I earn passive income with little capital? 
Yes. Start with dividend ETFs (exchange traded funds), peer-to-peer (P2P) lending or blogging — many options require less than R5 000 to start.  

Are passive income earnings taxed in SA? 
Yes, income from dividends, rentals and interest is subject to personal income tax.  

Passive income ideas for the busy man  

Vehicle ads
This is as easy as it sounds, especially if you’re not fussy about vehicle aesthetics. Car-advertising companies pay you to display ads on your car, so they’re visible to passers-by as you drive around town. Once the wrap is installed, you simply drive as you normally would, earning money while living your life.  

Vending machines
Ever looked at vending machines around town and wondered who takes care of them? It might not be glamorous, but the owner of those machines is earning passive income from everyone’s cravings. You have to spend money to make money with vending machines, but once they’re up and running, the possibilities are endless. In the right locations, such as hospitals and schools, you can make a lot of passive income. This one does require just a bit of work on your part, as the machines require stock when they run out, but it’s not a full-time job.  

Roommates or short-term rentals
Maybe you don’t have the money to invest in a rental property. But do you have an extra room in your home that sits empty for 90% of the year? Receiving rent from a roommate is one way to offset your living costs. It does come with risks — you will need to set clear expectations around shared expenses and spaces like the kitchen and bathroom.  

Another option is to make the room available to someone who is looking for a remote office or workspace.
Alternately, if are you going away for a few weeks and don’t want to leave your home empty, you can rent it out short-term. This is best done through an agency or established platform to avoid the risk of people robbing you blind.  

Investment funds
Investing in funds can be a smart way to build lasting wealth while minimising risk.
Source: Shopify.com

Passive property  

The side hustles we’ve outlined are ones that require work and a fair investment of your time and energy. They are not the same as ‘passive’ income but are a pathway to it.  

One of the most popular forms of passive income is property. Ask any investor and that’s one of the first options they throw on the table.  

According to Everest Wealth: “Owning rental property remains one of the best investments for passive income in South Africa. From apartments in urban hubs like Cape Town or Johannesburg to investing in student housing, property provides reliable monthly returns.”  

In other words, if you can use your side-hustle income to invest in property, you’re golden.  

You can choose to buy to let long-term, or something for short-term rentals aimed at tourists and digital nomads on Airbnb or Booking.com, which might have higher returns depending on the area.  

Another option in university towns is student accommodation, which is in high demand, and when connected with the right institution, is almost always guaranteed to be the gift that keeps on giving.  

How it works 

According to Everest Wealth, generating passive income is no longer a luxury — it’s a necessity. “The ability to diversify your income sources provides financial freedom, reduces stress and offers a buffer against economic volatility.”  

Unlike active income, where you must work and put in the hours for every rand earned, “passive income works for you, even while you sleep”.  

You can go with options that pay out monthly or ones that require a little bit of patience —a few years — to earn that rand.  

“The best way to get started with passive income strategies for investing is to assess your current risk appetite, available capital and desired level of involvement. Whether you choose investing, rental properties or digital assets, the key is consistency and diversification,” says Everest Wealth.  

In simple words, the right-side hustle with the right passive income can help you retire early, buy those golf clubs and live a life of luxury. But you have to start somewhere. 

By: Thulani Gqirana
Photography by: Gallo/Getty Images
Text courtesy of Man magazine 

Also read: Why income differences shouldn’t stand in the way of good friends

The post Passive incomes: Your questions answered  appeared first on TFG Media.

Credit cards can be a powerful tool in your financial arsenal, but only if you know how to wield them correctly. Whether you’re a seasoned points player or just starting to build your credit score, we’ve got the lowdown on how to max your rewards, avoid costly mistakes and choose the cards that’ll give you the most perks. We’re about to take you on a crash course in credit card mastery, from snagging the best cards for your lifestyle to exploiting loopholes that’ll save you serious cash. We’ve done the research for your benefit. Let’s get into it…  

Credit card terminology 101  

Billing Cycle: The period between statements, typically a month, during which transactions are accumulated, and interest is calculated.  

APR/Annual Percentage Rate: The interest rate charges on your credit card balance.  

Credit Score: A number that represents your credit worthiness.  

Cash Advance Fee: Charged when you withdraw cash from your credit card, often a percentage of the withdrawn amount.  

Airline Miles: Rewards points earned on credit cards that can be redeemed for purchasing flight tickets.  

Travel Insurance: Insurance coverage for travel-related issues such as trip cancellations or delays.  

Dynamic Currency Converter (DCC): A service that allows merchants to convert a transaction’s amount into your home currency in real time — note, often with unfavourable exchange rates and fees.  

Foreign Transaction Fee: Charged on purchases made abroad or in foreign currency, typically a percentage of the transaction amount.  

Revolving Credit: Allows you to borrow and repay funds repeatedly, up to a maximum credit limit, without having to reapply for a loan. 

@sandimfeka Another day, another way around credit. #creditcard #moneytoks #fintok #sandimfeka ♬ original sound – Sandi Mfeka

1. Choose the right credit card for you 

We listen; we don’t judge — unless you’ve chosen a card without doing any research. Jokes aside, when it comes to credit cards, it’s essential to consider your individual needs and financial goals. Before visiting a bank, think about your income, spending habits and credit score (see opposite) to determine which type of card will work for you, not against you.  

Look at it like this: if you’re a frequent traveller, a card with travel rewards and airport lounge access would be ideal (see No.3). If you want to build credit, a secured credit card or one with a low introductory APR (annual percentage rate) would be the best fit. Compare cards to find ‘the one’ that aligns with your lifestyle and financial objectives.  

2. Maximising rewards and benefits  

Now that you’ve gotten that out of the way, it’s time to learn about how to maximise rewards and benefits. It’s crucial to know what type of purchases earn rewards so you can take advantage of bonus categories and promotions. Consider using a card with a rotating rewards category or a card that offers cashback in specific categories such as groceries or fuel. Additionally, look for cards that offer a sign-up bonus, anniversary bonus or other perks that can boost your rewards earnings. By strategically using your credit card, you can earn valuable rewards and benefits that enhance your lifestyle.  

More ways to save money and reduce financial stress? Pay your balance in full each month — timely payments minimise interest charges. Live within your means and do your best to avoid overspending, as it can lead to debt and financial difficulties later on.  

3. Perks in the air  

Jet-set your wallet into high gear with credit cards that offer extra perks to enhance your travel experience, whether you’re a frequent flyer or weekend warrior. These might include travel insurance, airport lounge access, personalised travel planning or travel credits that can be redeemed for flights or hotel stays. 

Consider the Standard Bank World Citizen credit card, which offers up to 35% off on Emirates flights, and access to over 100 local and international lounges, and complimentary stays at more than 200 Marriott Bonvoy hotels.  

The Nedbank SAA Voyager credit card provides unlimited access to SAA lounges for premium cardholders, earns air miles on day-to-day purchases and offers flight discounts of up to 40%.  

The Absa British Airways Travel credit card offers Bidvest Premier Lounge access eight times a year-four on domestic flights and four on international flights — for primary and secondary cardholders. The FNB Private Wealth Travel credit card offers up to 36 complimentary SLOW and Bidvest Premier Lounge visits per year (depending on your reward level), 40% off selected flights and car rental when you book with eBucks Travel, and 12 additional airport lounge bonus visits (domestic or international).  

Cashback credit cards are the ultimate reward for being a savvy spender

4. Cash in with every swipe 

Life’s too short to spend money without getting something back, right? That’s where cashback credit cards come in — the ultimate reward for being a savvy spender. You’re not just buying stuff; you’re building a stash of rewards that can fund your next big adventure or simply pad your pocket.  

The benefits are real, such as cashback rewards on purchases which can be redeemed for statement credits or cash; points rewards that can be redeemed for merchandise or gift cards; category-specific rewards such as groceries, fuel or dining; buy-one-get-one-free and so on. 

The Woolworths Black credit card offers 3% back on Woolworths spends in WRewards, and an additional 1% rewards in Woolies vouchers every three months. It also provides free hot beverages, free Woolies online delivery and medical assistance abroad. (Note: you need to earn R41 666 or more per month and have a valid SA ID number to qualify.)  

The Discovery Bank Platinum card offers up to 50% back on healthy grocery purchases in-store or online at Checkers or Woolworths; up to 50% back on personal-care items at Clicks or Dis-Chem with HealthyCare, and on baby essentials at Babies R Us, Toys R Us or Dis-Chem Baby City with Healthy Baby; up to 15% back on fuel purchases at BP and selected Shell service stations; up to 15% back on Uber rides, and up to 3.5% back on bank-integrated Discovery Life insurance premiums. 

The ABSA Rewards card offers up to 30% back on fuel, groceries, health and beauty products when you purchase from selected stores. Membership is free, and you can earn rewards points according to your product category.  

5. Bring on the fun 

Whether you’re a foodie, a shopaholic, a film buff or a thrill-seeker, there’s a card out there that’s tailored to your lifestyle. We’ve found you the perfect match!  

From credit cards that offer access to exclusive events such as concerts or sporting events and major entertainment benefits (think movie tickets, concerts or festivals with early bird or VIP access, and theatre tickets), there’s no reason for FOMO. 

The American Express Platinum card offers exclusive presale tickets and you have access to a Premium Events collection, which allows you to buy tickets to see inspiring exhibitions, attend some of the world’s biggest sporting events, experience acclaimed restaurants and more.  

The Nedbank Gold credit card gives you up to 60% off Nu Metro movie tickets, while the Nedbank SAA Voyager credit card offers 60% off on Nu Metro Xtreme movie tickets and 50% off on 2D, 3D and VIP movie tickets (excluding 4DX). Plus, you’ll pay half price for cinema refreshment combos.  

The Standard Bank Titanium credit card’s UCount Rewards offer discounts and can be redeemed for movie tickets or entertainment, sporting events and gym memberships.  

The FNB Aspire credit card offers eBucks rewards points that can be redeemed for movie tickets and other forms of popular entertainment.  

Note that many of the rewards-based credit cards require a certain income level to be able to qualify (the hint is in the name… platinum, gold, etc). If you don’t fit into that category just yet, keep shopping around and focus on the one that will give you some benefit. After all, some reward is still better than none. 

How to check your credit score  

Take the first step towards financial freedom and check your credit score today — your future self will thank you! 

Why? Because your credit score speaks volumes to lenders, landlords and retailers about your financial reliability.  

Start by heading to the websites of the major credit bureaus like TransUnion, Experian or Compuscan. Sign up for a free account, and voila! You’ll get instant access to your credit score and report. You can also use online platforms such as Clear Score or CreditSavvi, which offer free credit score checks and personalised tips to help you boost your score.  

By: Emma Mbuthuma
Photography by: Gallo/Getty Images
Text courtesy of Man magazine

Also read: How ‘girl math’ can impact your money mindset 

The post Tips to take control of your credit card  appeared first on TFG Media.

There’s something powerful about the solidarity women share when we come together and realise just how much we have in common. Whether it’s a shared experience or a simple laugh, we’ve all seen a version of ourselves in someone else’s story. This unity was particularly evident with the viral trend of ‘girl math.’ In fact, it resonated so deeply that TikTok videos about girl math have been viewed more than 3.3 billion times at the time of writing.  

But what is girl math, exactly? Simply put, it’s the playful way women rationalise their purchases, especially when it comes to the little justifications we make for spending our cash. In the world of girl math, buying something on sale is considered ‘saving’, cosmetic procedures become a ‘future investment’ and tickets for a concert you bought months ago are basically free because, well, you’ve already paid for them. It’s quirky, it’s fun and it speaks to how we women relate to our spending in ways that feel familiar and empowering.  

@caitlinwiig the girl math was working overtime on @Studio Blue Illustration ♬ original sound – Caitlin Wiig

However, what began as a playful internet joke has taken on a more complex tone, with critics labelling it a form of ‘frivolous spending’ or a symptom of ‘bad budgeting’. But is it really that simple? Ntombana Mbele-Thomo, an economist, thinks not. “I think that’s a very trivial argument,” she says. “If people view women spending their own hard-earned money on themselves as ‘frivolous,’ then so be it. We’re the only gender who has to consistently consider others before ourselves.” For Ntombana, girl math isn’t just a funny trend, it is part of a larger feminist movement. “At its core, girl math is about women asserting their agency. It’s about expanding what it means to be a woman beyond the traditional roles of servitude,” she explains. “And what I love about it, is that it’s so grounded in how women have always budgeted – creatively, resourcefully and with an eye for making every rand stretch.”  

Women have long been the architects of household budgets, even when resources are limited. Ntombana points out that many women living on minimum wage are still able to keep a household running smoothly, all while prioritising their own self-care. This, she says, is where the misunderstanding of girl math comes into play. The idea that women are bad at budgeting? That’s simply not true. Historically, women have always been adept at managing finances, whether it’s pooling resources through stokvels or using alternative forms of financing to make ends meet. The introduction of girl math into contemporary conversations only makes it more visible and relevant.

So why the need to justify our spending in the first place? Ntombana suggests it’s part of a broader societal issue. “The issue isn’t just about money,” she says. “It’s about women’s autonomy in all aspects of life – whether it’s owning our time, deciding the terms of our relationships or determining how we engage professionally.” In a world where women are often scrutinised for their decisions, even something as harmless as a TikTok trend like girl math can become a symbol of rebellion.  

Of course, Ntombana acknowledges that there are pitfalls to this trend, especially for younger women. “There’s pressure, particularly on women from disadvantaged backgrounds, who might feel inadequate because they can’t afford certain luxuries. Girl math can amplify that sense of inadequacy, and it’s a reflection of the economic divide that still exists.” Yet, despite these challenges, Ntombana believes girl math ultimately shines a light on how women have always managed to make the most of what they have. From budgeting for beauty to being savvy with savings, women have long known how to make their resources work for them. We’re simply giving the concept a name.  

All in all, girl math isn’t about justifying ‘bad’ spending habits – it’s about celebrating the creativity and agency of women everywhere, whether we’re making financial decisions or pushing back against a system that often tries to minimise our worth. 

By: Mecayla Maseka
Photography by: Getty images, Pexels
Text courtesy of Balanced Life magazine 

Also read: Tips to improve your relationship with money

The post How ‘girl math’ can impact your money mindset  appeared first on TFG Media.

In recent years, workplace stress has reached a tipping point for many professionals, especially in high-pressure environments. Mental-health challenges among workers have become increasingly evident, with stress, burnout and anxiety on the rise.  

According to a 2019 study, an estimated 15% of working-age adults globally were living with a psychological disorder, making it clear that mental-health issues are an urgent concern for today’s workforce. This situation has only intensified in recent years, including in South Africa.

The 2024 Profmed Stress Index specifically revealed some disturbing facts about stress in our country’s workplaces. The survey, which included over 2 000 professionals, revealed that fatigue, poor sleep and even digestion issues were taking a heavy toll on workers. Economic factors like inflation and financial insecurity also emerged as major stress contributors, creating an environment where professionals are constantly battling mental, emotional and physical strain. 

“The results reiterate that stress remains a significant concern and needs to be taken seriously. None of us are immune to its effects,” says Justine Lacy, clinical executive at Profmed.  

“What stands out [in the latest report] is that while professionals are open to exploring new ways to manage their stress, the majority (60%) still prefer in-person mental-health support, whereas around a quarter are more comfortable with text-based support.”  

While mental-health support remains crucial, research suggests that we should try turning to less conventional methods of coping– one of which is laughter. According to a study done by Stanford University in the US, laughter has long been a coping mechanism in daily life, but it is now being increasingly recognised as a powerful tool for boosting work productivity, easing stress and fostering positive workplace relationships. 

From gloom to giggles  

According to the Mayo Clinic, laughter activates several key systems in the body, offering an immediate sense of relief. When you laugh, your body undergoes several positive changes.  

Laughter stimulates oxygen-rich air intake, invigorating your heart, lungs and muscles. It also releases endorphins — the brain’s ‘feel-good’ chemicals — leading to a sense of positivity and relaxation.  

In addition to improving your mood, laughter reduces physical symptoms of stress. It can lower blood pressure, ease muscle tension and even reduce your heart rate, promoting relaxation after a stressful event. Whether it’s a hearty laugh shared with a colleague or a funny moment during a team meeting, these small bursts of humour can provide an instant mental reset.  

But the benefits of laughter go far beyond a momentary reprieve from stress. Laughter has been shown to improve immune function and reduce the impact of chronic stress. Negative thoughts, often triggered by workplace pressure, can lower one’s immunity, making workers more susceptible to illness. Laughter, however, triggers the release of neuropeptides that fight stress, enhancing immune function and overall health.  

Work hard, laugh harder  

Despite the benefits of humour for stressed professionals and in the workplace, behavioural scientist Dr Jennifer Aaker told the Economic Times that too many employees and employers alike aren’t taking humour seriously at work.  

“We’ve all fallen off a humour cliff. In a global study, over a million people were asked, ‘Did you smile or laugh a lot yesterday?’ For those who were 16, 18 or 20 years old, the answer was yes. Then, around 23, the answer becomes no,” says Dr Aaker. “Things look up again but only around age 80,” she adds. But why wait until then?  

Beyond individual benefits, laughter plays a vital role in fostering better teamwork and collaboration. The dynamics of team-based work are often influenced by the level of trust and communication among colleagues. When laughter is present, it creates an atmosphere of openness, reducing tension and fostering more relaxed, productive conversations. 

A shared sense of humour can build stronger bonds between colleagues. In team meetings or brainstorming sessions, a well-timed joke or light-hearted comment can break the ice and set a positive tone. It’s not about being the ‘class clown’ or not taking work seriously but rather using humour to encourage a more collaborative and creative atmosphere.

As teams become more comfortable with each other, they’re more likely to share ideas freely, communicate openly and offer constructive feedback. This type of environment fosters innovation and creativity, both of which are critical components of high-performing teams. Employees who laugh together are also more likely to support one another, making it easier to tackle challenges as a collective unit. 

It’s common for stress and tension to run high in workplace environments where competition or tight deadlines are the norm. In such spaces, humour can be a tool to ease tension and remind employees not to take themselves too seriously. Humour can also help defuse potentially awkward or confrontational situations with others, turning negative interactions into opportunities for connection and improved conflict management. 

Leaders who embrace humour set the tone for their teams, creating a culture where stress is managed more effectively. Instead of allowing tense moments or stress to escalate, managers who use humour to lighten the mood can foster a more supportive, open and healthy work environment.  

Laughter helps you cope
Laughter is a powerful coping mechanism that can ease tensions and foster stronger relationships. Whether it’s a quick laugh in he lift or a light-hearted moment during a meeting, humour is one of the keys to better mental health at the office.

Tips for bringing humour to the office 

Integrating laughter into the workplace doesn’t require a complete company-culture overhaul. Small changes can have a big impact on team morale and productivity.  

1. Create a positive environment.
Incorporate light-heartedness into everyday interactions. Share funny videos, memes or jokes during team meetings or through office communication channels. The goal is not to derail productivity but to inject some humour into the workday to break up the monotony.  

2. Lead by example.
Managers and leaders can set a tone of openness and approachability. By showing that it’s okay to laugh and have fun, they encourage their teams to do the same. Humour also makes leaders seem more human, which can foster better communication and reduce the sense of hierarchy that sometimes stifles creativity.  

3. Encourage social activities.
Team-building activities, like laughter yoga, or a social outing to a comedy club, can strengthen bonds between colleagues. Creating opportunities for socialising outside the office helps employees relax and form better connections.  

4. Foster a supportive atmosphere.
Encouraging colleagues to share funny anecdotes fosters a culture of humour, understanding and empathy. Laughter should not come at anyone’s expense, but rather as a way of building camaraderie and easing stress. 

By: Mecayla Maseka
Photography by: Getty Images
Text courtesy of MAN magazine

The post Tips for bringing humour to the office  appeared first on TFG Media.

The old status quo 

It’s never been easier to shop for clothing online, and for some importers, it was perhaps a little too easy to sell it – at least, that’s from the perspective of the South African Revenue Services (SARS) and local retailers.   

You see, before 1 November 2024, imported clothing packages under R500 were coming into the country with a flat rate of 20% customs duty and no import tax. If the clothing package was over R500, it would be slapped with a 45% custom duty and 15% import VAT. It made a pricey parcel even more expensive.   

And some importers took note of this. Large international e-commerce companies, such as Shein and Temu, took advantage of this loophole by breaking up packages into bundles of R500 or less. So not only were South Africans buying cheap imports, but the tax added was minimal. A win for the individual consumer perhaps, but not for our clothing manufacturing and retail industry, argues SARS.  

This system left local retailers on the back foot, SARS says, since they didn’t have the means to import in such small quantities – and also evade the higher tax. This made it harder for locally produced fashion to remain competitive. With clothing imports from China alone valued at R4.2 million a month in 2024, the revenue service decided it was time to intervene and make importing frequent, low-cost imports less attractive to consumers.   

The new status quo  

From 1 November 2024, the concession for clothing parcels under R500 was scrapped. In alignment with the World Customs Organisation framework, these packages would also be subject to the 45% custom duty and 15% import VAT.  

A custom duty is calculated based on the declared value of the package, which includes aspects such as shipping and insurance. Import VAT is calculated after the custom duty is added to the total value of the goods, plus a 10% fee if there is no shipping or insurance cost added.  

Ready for check out  

So what does this mean for your cart? An order of R400 that would have once cost you R480 with the flat rate of 20% will now cost you R667 after the custom duty and import VAT is added – that’s a difference of R187, in case you were wondering. Beyond the monetary value, there’s also the issue of the online marketplaces’ quality, and ease of returns and refunds, to consider as a consumer. It’s no secret that low-value imports often become the butt of the joke when it comes to these departments! It’s also widely reported that these online marketplaces rely on unfair labour practices and wasteful manufacturing to get prices so low.  

As ever, South African consumers are stuck between a rock and a hard place, but the power of their purchase remains in their hands, so support local if you can! 

By: Christi Nortier
Text courtesy of Balanced Life magazine
Photography by: Pexels

The post Customs: What you’re paying for and why?  appeared first on TFG Media.

According to MoneyWeb, South Africans can expect a 36.1% electricity price hike from April 2025. Crazy, right? Unfortunately, that’s not where it ends. Fuel, food, rent, medical aid, school fees… Our metaphorical belts continue to tighten daily, as we hope for inflation to drop and for the cost of living to allow us to live well.  

It may seem impossible to raise a family in this economic climate while also saving money for those rainy days and well-deserved treats and retreats, but it’s not! Freddie le Roux is a financial advisor at Envestpro, an affiliate of Liberty, and he shares five tips to help you create a realistic budget. 

Annnd… Goal! 

It may seem predictable for the first tip to be goal setting but according to Freddie, it is important to begin by having the end in mind. Start by setting yourself a specific goal – instead of saying something vague like ‘save more’, write down an amount that you want to save and the time frame over which you will save that amount, and prioritise this goal.  

Be realistic and reasonable with yourself as there will always be unforeseeable expenses when raising a family, but never stray from your goal. “Whether it’s a long-term, short-term or medium-term goal will depend on one and the same strategy that would be adopted to save towards that goal,” he says. 

Be wise, strategise 

Now that you have a specific goal in mind, the next step is to put yor plan into action by crafting a budget that balances your wants and needs. It’s easier to draw up a plan than to follow it through, and so Freddie advises taking a look at your original budget, seeing if your funds are fulfilling more wants or needs than necessary, and reallocating those funds more appropriately. “One could find that there are hundreds, maybe even thousands, of rands that could be redirected into some form of savings vehicle,” he says.  

Investment vehicles 

An investment vehicle is a method or product that helps you invest and grow your money. “It’s all very well saving R100 a month for a year and ending up with R1 200 saved, but the value of R1 200 in 2025 versus 2035 are two different things. So, the money needs to grow to keep up with inflation,” Freddie explains. Of course, growing your savings will always come with some sort of risk so you need to do your research and consider and create a risk profile. Reaching out to a financial advisor would be most beneficial for such things. Here are some savings vehicles for you to consider: unit trusts, tax-free savings endowments and longer-term retirement annuities. 

Technological Era 

Another strategy you can implement is to track which of your household costs are fixed and which fluctuate. For example, your rent or mortgage, car licence, phone contract and streaming subscriptions are all fixed costs for the year, whereas fuel and food prices may fluctuate from month to month.  

You can use techniques like setting up a debit order for fixed costs so that the payments are automatically deducted from your bank account. “This helps build up financial discipline over a period of time so that you commit to your goal,” says Freddie.   

Other options that can help you save money include loyalty points, banking apps and the Stash App (an app a company like Liberty uses) where, depending on how you use it, a portion of the money you spend goes into a tax-free savings account. It would do you
a lot of good to research how these apps can help you save. 

A ban on brands 

Brand names are not a necessity. As a parent trying to balance a budget and plan for the future, it is essential to draw a line and save luxury items for when you can afford them. 

Until then, don’t focus on the brand of clothing, shoes, food, tech or appliances that you purchase. We often pay for the name, not the product. So ask for the generic versions of the medication prescriptions you need. 

The no-name products, generics or ‘dupes’ are just as good and won’t break your budget for a temporary bit of excitement.   

Involve the family 

It can often feel like our lives are controlled by how much money we make and how
we choose to spend it. You may be the main breadwinner of your family or a contributor, but tackling things as a unit will always lighten the load you carry.   

Involve your kids in your goal setting when they are an appropriate age – share your saving goal and what you, as a family, need to cut down on or prioritise to achieve it. Involve them so that they understand and incorporate this way of budgeting into their lives in small ways. If they want a specific toy or item, teach them how to save for it, and help them help you in the present as you help them help themselves in the future.  

“Equipping the next generation with financial knowledge and literacy, and giving them the necessary skills to survive and operate in this world after leaving school
– that’s another goal,” says Freddie. 

Fun low-cost activities for your family: 

• Pack a breakfast or lunch picnic.
  
• Visit a museum, botanical garden or animal sanctuary. 
• Go fishing at a dam or river.  
• Try an overnight camping trip. 
• Go cycling or visit a bike park. 

Photo: Shutterstock
Words by Thuveshnie Govender 

The post How to stretch your family budget appeared first on TFG Media.

Zen is a concept that most of us associate with tranquillity and peace. It’s a school of philosophy within Buddhism that’s focused on using meditation, which is mental focus and absorption, to achieve a particular state of mind – a state of mindful control. 

As unusual as it sounds, there are benefits to be reaped from applying this school of thought to your finances. Rather than being esoteric and a bit “out there”, the Zen practice of mindfulness offers eight simple steps that just about anyone can follow to cultivate a healthier relationship with money.  

1. Live in the here and now 

Being Zen means looking at your situation in a calm, unemotional or unattached manner. It’s entirely rational. For most of us, knowing where we are in this very moment is difficult. 

Many of us project ourselves into an unknown future or dwell on the past rather than facing up to our present-day reality. Being mindful about money starts with knowing precisely where you stand financially so that you can take action to improve what needs attention. 

Start by taking a realistic look at your situation. Take stock, create an inventory, look at your monthly income and expenditure, list all your debts and take note of exactly how much money you have. Knowing where you are gives you a clear point from which to move forward. 

@fulumashapha The numbers on this budget are not made up, this is what someone is paying on a monthly basis #financialwellness #mindyourcents ♬ Tshwala Bam (feat. S.N.E, EeQue) – TitoM & Yuppe

2. Create a mindful budget 

A clear financial inventory will allow you to take the next step and formulate a budget – a monthly breakdown of how much cash you have coming in, and how you plan to use it. 

It should factor in your debts and all regular expenses that need to be paid, such as rent, food and transport, plus it should ideally ensure that a sizeable portion of your income is being saved or invested. If you can apply your mind without being judgemental, you’ll start to understand – from your own perspective – how to shift your spending and saving behaviour to make sure the amounts are more in line with your values. 

3. Automate your finances 

By embracing automation (setting up debit orders), you can streamline bill payments, savings transfers and investment contributions, ensuring timely and accurate financial transactions. This not only eliminates the risk of late fees or not paying and spending recklessly, but also promotes disciplined saving and investing, boosting your overall money confidence and helping you keep control of your spend.

4. Simplify your life 

Zen also means bringing simplicity into your life, unburdening yourself from the load and reducing the excess. You might have a gym membership you aren’t using – let it go. The trick is to be totally honest with yourself, which can be best achieved during moments of quiet and conscious focus (such as during meditation). 

5. Practise impulse control 

Mindfulness means not giving in to impulses – and that includes impulse buying. Your rule should be to make a purchase only once you have mindfully determined whether you absolutely need the thing. 

@hermoneymastery Youre probably impulse purchasing more than you think. If you didnt budget for it, its an impulse! Try to put one of these methods into practice and start building the “delayed, not denied” muscle. #budgetingtiktok #moneymindset #budgeting #budgetingforbeginners ♬ original sound – Her Money Mastery

If you don’t already have such a system for evaluating your needs, sit quietly, close your eyes and focus on that object. Ask yourself whether or not you can live without it and mentally engage with that object to discover how much joy it will bring you, how much use you will really get out if it and how much value it will add to your lifelong term. Be honest and you’ll know soon enough if you really need it. 

6. Practise kindness 

Take time to think about how you perceive money and aim to strengthen your relationship with it by changing your attitude towards it.  

Instead of being emotional and saying, “I don’t have enough money” or “I hate money; I never have enough”, try to cultivate a sensitivity to its usefulness and its value as a tool to help you do with your life what you’d like to do. 

Perhaps if you are kinder to money, it will be kinder to you. Don’t abuse it, and there’s less chance that you’ll be abused by it. Remember that money is benign – it shouldn’t cause you stress or anxiety. 

It shouldn’t give you feelings at all; it is merely a tool.  

7. Cultivate gratitude for what you have 

One of the most important lessons of Zen philosophy is gratitude. Be grateful for what you have and be thankful when you receive something new. Remember that you have so much more than those who have nothing, and don’t be tempted to focus on what you lack. 

Whenever you feel yourself craving more, find a quiet space to meditate, breathe and focus on the simple joys. Leave no stone unturned when practising gratitude. 

If you allow material desire to control you, you might find yourself thinking that you never have “enough”.  

8. Stay calm 

Handling your finances can leave you stressed and anxious. Try investing a small portion of your time in the ultimate Zen reset: meditation. For those who are new to meditation, guided meditations are a great way to begin, as they provide you with a focal point. By meditating, or practising an equivalent mindfulness technique, you’ll bring some peace, quiet and calm into your life.  

Even just a few minutes of focused deep breathing is enough to ground you and clear your mind. It’s an internal sanctuary that will better equip you to face whatever curveballs your financial situation throws at you. 

 By Keith Bain
Photographs: Pexels, Unsplash 

Also read: 5 Positive Money Habits 

The post Tips to improve your relationship with money appeared first on TFG Media.

We’ve all experienced it: the excitement of the holidays results in the inevitable urge to splurge. Because KeDezemba, right? From buying gifts to attending endless social and family events, it’s easy to get caught up in the festive spirit – often at the expense of your financial well-being. The result? The dreaded financial hangover known as ‘Januworry, where the reality of overspending sets in, leaving you stressed out as you enter the new year. 

But what if this year could be different? Where, instead of dreading the arrival of 2025, you could look forward to it with confidence, knowing that your finances are in order? The good news is that by adopting a few smart financial strategies, you can enjoy the holiday season without breaking the bank. Here’s to starting 2025 on a strong note! 

1. Start with a budget – and stick to it

The key to avoiding Januworry starts with creating a realistic holiday budget.  

This isn’t just about setting arbitrary limits; it’s about knowing your financial situation
and planning accordingly. Begin by calculating your monthly income and subtracting essential expenses like rent, groceries and debt payments. What’s left is the amount you have to work with for holiday spending.  

Now, break down your holiday budget into categories: gifts, entertainment, travel and eating out. Allocate a specific amount to each category and, most importantly, stick to it. If you’re tempted to go over budget, remind yourself that every rand spent now could mean cutting back on essentials in January.  

2. Make a shopping list  

Impulse purchases are one of the biggest threats to your holiday budget. It’s easy to get swept up in the festive atmosphere and make spontaneous buys that you later regret.  

The solution? A well-thought-out shopping list.  

Before you hit the stores or start browsing online, make a list of the gifts you need to buy – prioritise meaningful gifts that fit within your budget and that the recipient will actually use. When shopping for groceries, plan your meals in advance and only buy what you need.  

By shopping with a list, you’re less likely to be swayed by treats, holiday promotions and discounts on items you don’t actually need.  

3. Shop smart  

Timing is everything when it comes to holiday shopping. Retailers are aware of the festive frenzy and often inflate prices before offering ‘discounts’ during sales. To truly save, start shopping early. Black Friday in November and Cyber Monday (early December) can be good opportunities for deals, but make sure you’re actually getting a bargain by comparing prices beforehand.  

Take advantage of rewards programmes and cashback offers. If you’re planning on spending, you might as well get something back. Some credit cards offer cashback or points for purchases, which can be redeemed later (in this instance, in January). Just be sure to pay off your balance in full to avoid interest charges.  

4. Spend from a savings plan

Now is the time to start saving for next year’s holidays. Setting aside a part of your income can make a big difference. Open a dedicated savings account for holiday expenses and arrange a debit order for it each month. This way, you’ll have a buffer to cover any unexpected costs that arise during the festive season.  

If you receive a year-end bonus, resist the urge to spend it all. Instead, allocate a part to your current holiday budget and save the rest for January. This can help you cover any financial shortfalls and start the new year with a sense of security.  

5. Cut back on non-essentials 

December is often a month of excess, but that doesn’t mean you have to sacrifice your financial health for the sake of indulgence. Look for areas where you can cut back without compromising your holiday experience. For example, host a bring-and-braai instead of shouldering the cost of an entire meal yourself. Think about social activities that are fun but don’t hurt your pocket. Instead of attending every social event, prioritise the ones that matter most to you.  

6. Plan for January  

The best way to beat Januworry is to plan for it in advance. Start by setting aside a part of your December income to cover January expenses. This might mean cutting back on some holiday spending, but the peace of mind you’ll gain will be worth it.   

Consider postponing certain purchases until January when the post-holiday sales begin. Retailers often offer significant discounts after the festive season, so waiting could save you a lot of money. You might also have scored when Santa dropped his gifts, meaning you don’t double-up on purchases.  

7. Make a financial New Year’s Resolution  

Finally, use the start of the new year as an opportunity to set financial goals – even if it’s just one big goal. Whether it’s paying off debt, building an emergency fund or investing in your future, having a clear plan can keep you motivated and focused.  

Set up a monthly budget, keep track of your expenses and find areas where you can save. By making small changes throughout the year, you can avoid the financial stress that often accompanies the festive season – and say goodbye to Januworry for good!  

By: Dylan Muhlenberg 
Photo: Gallo/Getty Images  

The post Financial tips to avoid Januworries appeared first on TFG Media.

If you’ve never heard of them, you might be tempted to label stokvels as a kind of pyramid scheme – and there have been plenty of dodgy scams pretending to be stokvels, so it pays to be on your toes. But pyramid schemes are very different from genuine stokvels, with the latter being specifically built on collective trust and honesty, driven by camaraderie and community, and powered by ubuntu.   

How it works  

A stokvel is, in essence, a not-for-profit financial institution (like a co-operative) that’s entirely owned by its members. In other words, it’s like a bank that’s entirely owned by the people who make use of it. Stokvels enable ordinary people to save collectively and, in so doing, to save up more than they might be able to save on their own.   

These savings clubs represent a massive portion of the economy. According to the National Stokvel Association of South Africa, we have over 800 000 stokvel groups in this country, representing some 11.6 million individuals whose collective annual savings amounts to almost R50 billion.  

Stokvel members meet on a regular basis and contribute a fixed amount of money into the scheme each time. Typically, on a rotational basis, each member gets an opportunity to dip into that growing pot of money, the benefit being that when it’s your turn for a payout, you get a larger lump sum. In this way, you now have access to an amount that might be substantial enough to take care of major purchases. That could mean finally being able to afford that much-needed appliance or pay for those renovations you’ve waited so long to implement. Some stokvels are specifically for financing emergency big-ticket outlays such as funerals.  

While stokvels operate under a written constitution, they rely on trust, honesty and a level of cohesion and shared responsibility between members; they’re designed to provide social security as much as financial rewards. Members often provide social support for one another and, at meetings, might discuss ideas, listen to financial predicaments or hear about savings and investment opportunities.   

STOKVELS ARE DESIGNED TO PROVIDE SOCIAL SECURITY AS MUCH AS FINANCIAL REWARDS 

Making it official

Several South African banks offer stokvel-specific accounts that cater to the uniqueness of a group-savings dynamic. Some of these accounts are also incentivised, offering added benefits to stokvel members. Nedbank’s Stokvel Account, for example, is a group savings account that gives members access to discounted grocery and school supply purchases at partner stores, as well as R10 000 burial cover for each member (for a contribution of R25 per member per month). Beyond these perks, there are also no monthly maintenance fees on these pay-as-you-use savings accounts. Plus, members get bank cards and are able to deposit their regular stokvel contributions as well as make instant withdrawals.  

FNB’s stokvel account also rewards members with discounted funeral cover premiums, and offers a host of online and SMS banking facilities designed to cut down on the use of physical cash. While members can make deposits via electronic transfer, FNB also allows stokvel members to make free cardless cash deposits at ATMs, and has added in measures to enhance security around the authorisation of payouts to group members.  

Standard Bank enables stokvels to open what it calls a ‘Society Scheme’ savings account, which promises a higher-than- usual interest rate on the group’s savings.  

As with other banks, a major benefit of using a bank account is to reduce the risks associated with having to handle large quantities of cash at meetings or simply keeping it in a member’s home.   

While such banking opportunities are empowering for stokvels in that they increase security, they can have the knock-on consequence of reducing  the group’s social dynamic by taking away the need for members to gather as a community. For many, this may be a drawback. Leaning too much into the traditional western banking format might ultimately rob stokvels of the thing that makes them so special: getting people together to share their resources.  

Banking for the people  

Essentially a form of community banking, stokvels’ more formal name is ‘rotating savings and credit associations’ – and while they’re called stokvels in South Africa,  

they aren’t unique to our country. They’re called chama in East Africa, ayuuto in Somalia, gam’eya in the Middle East, cundinas in Mexico, tanomoshiko in Japan and pandeiros in Brazil. There are also a wide variety of stokvel types:  

• Rotational stokvels: every week, fortnight or month, each member contributes a set amount towards a common pool, and then each member gets a lump sum on a rotational basis.  

• Grocery stokvels: specifically for saving up towards a major end-of-year bulk grocery shopping spree.  

• Savings clubs: for storing up money that can be accessed
  at the end of a predetermined savings cycle, often at year end.  

• Investment clubs: focus on enlarging their pooled funds by purchasing stocks, investing in a business or generating interest via a bank account.  

• Borrowing stokvels: generate interest by lending money (to members or non-members) and charging high interest on the loan.  

• High-budget stokvels: used mostly by men who like to spend big – and do.  

By: Keith Bain  

Photographs: Gallo/Getty Images 

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