Personal financial management : the Southern African guide to personal financial planning

Description

Front cover Title page Imprint page Contents Preface About the author Chapter 1: Personal financial planning 1.1 Introduction 1.2 The importance of personal financial literacy 1.3 The importance of personal financial planning 1.4 Conceptual framework 1.5 The financial planning cycle 1.6 Your own personal financial planning 1.7 The personal financial planning process 1.8 The advantages of personal financial planning 1.9 Personal financial planning areas 1.10 Summary 1.11 Self-assessment References Chapter 2: Measuring and assessing personal financial performance 2.1 Introduction 2.2 Annual finanacial statements 2.3 The personal financial budget 2.4 Summary 2.5 Self-assessment References Chapter 3: The time value of money 3.1 Introduction 3.2 Some calculations 3.3 Some special applications of time value 3.4 Calculations with a financial pocket calculation 3.5 Summary 3.6 Self-assessment References Chapter 4: Credit planning 4.1 Introduction 4.2 Application for credit 4.3 Handling a debt crisis 4.4 Debt self-management 4.5 Debt and legal remedies 4.6 Banking 4.7 Credit instruments 4.8 The credit contract 4.9 Buying and selling a car 4.10 E-shopping 4.11 E-banking 4.12 Financial inclusion 4.13 The National Credit Act 34 of 2005 (NCA) – Introduction and role 4.14 The Consumer Protection Act 68 of 2008 (CPA) 4.15 Summary 4.16 Self-assessment References Chapter 5: Career planning 5.1 Introduction 5.2 The importance of career planning 5.3 Choosing a career 5.4 The need for education and training 5.5 Factors that influence earning power 5.6 Job-hunting 5.7 Your own business 5.8 Being unemployed 5.9 Summary 5.10 Self-assessment References Chapter 6: Income tax planning 6.1 Introduction 6.2 Kinds of tax 6.3 The Income Tax Act 58 of 1962 6.4 The tax year 6.5 Standard Income Tax on Employees (SITE) 6.6 Pay-As-You-Earn (PAYE) 6.7 Provisional tax 6.8 How to complete your tax return 6.9 Your accountant and/or auditor 6.10 How to calculate taxable income and tax liability 6.11 Income tax pitfalls and how to avoid them 6.12 Retrirement/severence packages and tax planning 6.13 Tax-free Investments Accounts (TFIAs) 6.14 Summary 6.15 Self-assessment References Chapter 7: Starting a business: Entrepreneurship 7.1 Introduction 7.2 What is an entrepreneur? 7.3 Business entrepreneurial opportunities 7.4 A family business 7.5 Forms of business ownership 7.6 CCs and companies: The New Companies Act 71 of 2008 7.7 The business plan 7.8 Financing a small business 7.9 Your business location 7.10 Business registration 7.11 Business documentation and records 7.12 Business insurance 7.13 Employment 7.14 Your business and your bank 7.15 Identifying business problems 7.16 Legal business matters 7.17 Your business advisers 7.18 Succession planning 7.19 E-business 7.20 Manage your business 7.21 Business growth 7.22 Summary 7.23 Self-assessment References Chapter 8: Buying a business 8.1 Introduction 8.2 Assessing financial perfomance 8.3 Proplems an investor faces on purchasing a small business enterprise: The assessment of financial perfomance 8.4 Determining the purchase price 8.5 The advantages and disadvantages of buying a business 8.6 Business premises: Lease, buy, build or work from home 8.7 Summary 8.8 Self-assessment References Chapter 9: Buying a franchise 9.1 Introduction 9.2 What is franchising? 9.3 Checklist for the franchisee 9.4 A checklist for the franchisor 9.5 Financing the franchise 9.6 Franchising as a way to expand your business 9.7 The regulation of franchising 9.8 Franchise opportunities 9.9 Global franchising 9.10 Summary 9.11 Self-assessment References Chapter 10: Estate planning 10.1 Introduction 10.2 The estate planning process 10.3 Estate planning pitfalls and how to avoid them 10.4 Your lifestyle and estate planning 10.5 The administration of an estate (winding up) 10.6 Summary 10.7 Self-assessment Refrences Chapter 11: Investment planning 11.1 Introduction 11.2 Conceptual framework 11.3 Investment principles 11.4 Investment pitfalls and how to avoid them 11.5 Choosing a broker 11.6 Investment strategies for different ages 11.7 Investment criteria 11.8 Types of financial investment 11.9 Investment approaches 11.10 Computer programs available 11.11 The Johannesburg securities exchange (JSE) 11.12 Valuation methods 11.13 Buying shares 11.14 Share prices in newspapers 11.15 Economic indicators on television 11.16 Severence or retirement packages: How to invest? 11.17 The economic cycle: Your investment cycle 11.18 Investor protection 11.19 Summary 11.20 Self-assessment References Chapter 12: Buying a residence 12.1 Introduction 12.2 Motivation for buying a house 12.3 Valuation of a house 12.4 Cost implications of the registration procedure of deeds of transfer and mortgage bonds 12.5 Cost-items related to buying a house 12.6 The estate agent: A profile 12.7 The contract 12.8 Raising finance for the purchase of a house 12.9 Practical steps: Home buying 12.10 Practical steps: Selling your house 12.11 Practical steps: Moving house 12.12 The Consumer Protection Act 68 of 2008 (CPA) 12.13 The National Credit Act 34 of 2005 12.14 The Rental Housing Act 50 of 1999 12.15 The Prevention of Illegal Eviction from and Unlawful Occupation of Land Act 19 of 1998 (PIE) 12.16 Summary 12.17 Self-assessment References Chapter 13: Buying fixed property 13.1 Introduction 13.2 The investment process 13.3 Types of investment in fixed property 13.4 Property financing 13.5 Different ways to own property 13.6 Property contracts 13.7 Government control over property 13.8 Administration of property 13.9 Sources of information in the real estate industry 13.10 Summary 13.11 Self-assessment References Chapter 14: Offshore investments 14.1 Introduction 14.2 Research before investing in foreign countries 14.3 Offshore investment alternatives 14.4 Your estate 14.5 Summary 14.6 Self-assessment Reference Chapter 15: Protection Planning 15.1 Introduction 15.2 Household risks 15.3 Types of risk 15.4 Classification of pure risks: The subject of insurance 15.5 Risk management 15.6 Needs and insurance 15.7 Summary 15.8 Self-assessment References Chapter 16: Healthcare planning 16.1 Introduction 16.2 The best investment 16.3 The nature and importance of medical cost 16.4 New healthcare legislation 16.5 Provision for medical expenses 16.6 Medical schemes 16.7 Medical insurance 16.8 Healthcare products: Where should I start? 16.9 Alternative methods of healthcare 16.10 Healthcare for your retirement 16.11 Further information 16.12 Summary 16.13 Self-assessment References Chapter 17: Retrirement planning 17.1 Introduction 17.2 The importance of retirement planning 17.3 The income gap after retirement 17.4 Methods of providing for retirement 17.5 Other retirement planning issues 17.6 Summary 17.7 Self-assessment References Chapter 18: Emigration planning 18.1 Introduction 18.2 Can I afford to emigrate? 18.3 To which country should I emigrate? 18.4 Which assets and how many (how much capital) may I take with me? 18.5 What will happen to assests that are left behind? 18.6 May I transfer income from my remaining assests to a foreign country? 18.7 Should I place my South African assests in a trust? 18.8 What will it cost to emigrate? 18.9 Which financial factors should I consider about South Africa? 18.10 Which financial aspects should I consider about the foreign country? 18.11 What about the exchange rate and the value of the rand? 18.12 How do I go about emigrating? 18.13 Offshore investments 18.14 Summary 18.15 Self-assessment References Index