It's easy to panic when you are faced with the possibility of losing your job but there are ways to manage your finances while navigating through this time. CourtesyJOHANNESBURG - Faced with the possibility of losing your job may cause panic to set in as you consider your mounting monthly expenses and dwindling bank balance.
A financial adviser will look at your individual situation and advise you on which debts to pay off first. Your retrenchment package will be taxed in the same fashion as any money taken at retirement – the first R500,000 of your package is tax-free, the next R200,000 is taxed at 18%, the next R350,000 is taxed at 27% and anything over R1,050,000 is taxed at 36%.
Look at your package – hopefully, you can use this as cash flow and find a job before you need to start using your retirement savings.will there be a penalty if you have a payment holiday on any of your accounts or do you have retrenchment cover on any accounts? Go to your bank and discuss if you can reduce your home loan repayments.
Accept the situation as it is and try to come up with ideas to barricade my frustrations.
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Source: ewnupdates - 🏆 30. / 53 Read more »
Gordhan: Everything possible being done to stabilise EskomNo no I disagree Chief. First thing they can do is to get their 20000 excess staff onto the streets directing traffic. Should include a few ministers as well. No you are not doing everything possible once the corrupt Eskom staff and corrupt ANC get arrested and prosecuted then you can say you are doing everthing possible.. For now you just talking BS
Source: ewnupdates - 🏆 30. / 53 Read more »
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