Spring 2021
Are your kids falling behind? COVID-19’S IMPACT ON EDUCATION
Is it the end of
CASH? FOODS OF THE
FUTURE What will we be eating?
Fierce & fabulous fin-fluencer
Nicolette
Mashile The Big Benefit Boost! Get free movie tickets & refreshments. Turn to p.19
LIFE WITH KELLY KHUMALO
CHASING THE SUN
Are you hooked yet? THE LUMINARIES
Have you activated your new Showmax benefit? You get 3 months’ entertainment streaming with the R99 package on us!
SKEMERDANS
Visit sanlamreality.co.za/benefit/showmax to learn more. T&Cs apply.
Travel now with peace of mind
Enjoy 50% (up to R375) off two Intercape Bus tickets and reach your destination safely.
All safety measures are in place and partners will follow due protocol.
Visit sanlamreality.co.za/benefit/bus. T&Cs apply.
The Big Benefit Boost! Get free movie tickets & refreshments.
Contents On the cover 4
8
NICOLETTE MASHILE
11 QUIZ
“I want to champion financial literacy to help others reach financial freedom”
EDUCATION AND COVID-19
The pros & cons of a cashless world
Are you financially protecting your loved ones?
12 MONEY 15 PAYSLIPS EXPLAINED
Are your kids falling behind?
12 THE END OF CASH
Turn to p.19
Make sense of your salary
16 HEALTH 20 NO WORK-LIFE BALANCE?
Spot the warning signs
16 FOODS OF THE FUTURE
22 LIVE TO 100
Also inside
24 CLUB 24 YOUR MEMBERSHIP
What will we be eating?
4 LIFE 10 ENTERTAINMENT
Experts share how
20
Members share why they love the mag
What does financial confidence mean to you?
“It means making financial decisions the same way you choose the best outfit for your body. You base it on your size, your shape and the fit, plus you can rock it with confidence knowing it’s specifically tailored for you.”
EDITORIAL Editor Jaime Waddington Content editor Dominique Bowen Email mag@sanlamreality.co.za Contributors Sanelisiwe Maliza, Nicolette Mashile, Angelique Ruzicka, Cebokazi Sotobe, Christine van Deemter, Helen Wallace PRODUCTION Head of production & innovation Sonja Genis Campaign manager Kelly Hendricks CREATIVE Creative group head Juan Geel Art director Marisa Steyn
CAPE TOWN HEAD OFFICE Tel: 021 487 9100 Email: mag@sanlamreality.co.za 50 Harrington Street, Zonnebloem, Cape Town, 7925 PO Box 16258, Vlaeberg, Cape Town, 8001
“It means being comfortable spending my money, knowing that I’m prepared for whatever may come, and knowing I have sufficient savings to live comfortably in the future.”
SANLAM REALITY PROGRAMME Head of digital, marketing and communications Francois Uys Communications manager Lucille Moore Communications coordinator Hasina Khan
PUBLISHED BY NARRATIVE FOR SANLAM REALITY Telephone 0860 00 7325
Photography: Shutterstock, supplied
NARRATIVE Managing director Robyn Campbell Business lead Lauren Brabant Chief content officer Sarah Browning-de Villiers Content officer Jaime Waddington Account manager Roxanne Lopez-Maggott
SANLAM REALITY CALL CENTRE Email info@sanlamreality.co.za Website www.sanlamreality.co.za
REAL FUTURES (PTY) LTD Real Futures is a wholly-owned Sanlam Ltd company managing the Sanlam Reality programme for the Sanlam Group. Chairman Jan Steenkamp Directors Gary Allen, André Larisma, Jean Lombard, Theesan Moodley Company secretary Ulishia Baijnath
Sanlam Reality is the loyalty programme of the Sanlam Group and its strategic partners. The programme helps members to make the most of their money in a way that’s honest, meaningful and real. Sanlam Reality empowers its members to make responsible financial choices and enables them to live their best possible financial lives – all because Sanlam Reality believes that taking care of your money should be rewarding. All content and pricing correct at time of print.
Printed by
A division of Novus Holdings
Published by Narrative. All rights reserved. No part of this publication may be reproduced, stored in a retrievable system or transmitted in any form or by any means – electronic, photocopying or otherwise – without the prior written permission of the copyright owners, Narrative Media Group, Harrington Street, Cape Town, 7925. Printed by Novus Print. While reasonable precautions have been taken to ensure the accuracy of advice and information given to readers, the editor, proprietors (Real Futures (Pty) Ltd) and publishers cannot accept responsibility for any damages or inconvenience that may arise from incorrect information. Printed on paper sourced from sustainable forests.
ON THE COVER: Photography: Niquita Bento; creative directors: Marisa Steyn & Juan Geel; hair and make-up: Hedwin Kadzunge; stylist: Cleo Marcopoulos; producer: Ananda Swanepoel; NICOLETTE WEARS: Bralette and pants, Cotton On; blazer, Zara; earrings, Lovisa; necklace, A Lucky Find
sanlamreality.co.za
Spring 2021
3
life
COVER STORY
Nicolette Mashile: meet the fierce & fabulous fin-fluencer
This money guru has made it her business to open up conversations about personal finance. Here, she shares her vision for making South Africans financially fit with JAIME WADDINGTON.
4
Spring 2021
sanlamreality.co.za
NICOLETTE MASHILE ARRIVES ON SET DECKED OUT IN A LOUIS VUITTON HAT AND HANDBAG… but don’t be fooled by this ‘glamazon’ appearance – Mashile has worked hard to be where she is, and she takes her spending seriously. The Bushbuckridge native is the founder of Financial Fitness Bunnies, a financial education initiative aimed at championing personal finance education across the continent. She’s also the host of eTV’s Sanlam Moola-Money Family Game Show, which has been improving the financial confidence of millions of us every Saturday night.
NICOLETTE WEARS, LEFT PAGE: Dress, Kluk CGDT; belt, Vintage; earrings, Lovisa; heels, Zara; RIGHT PAGE: Bralette and pants, Cotton On; blazer, Zara; earrings, Lovisa; necklace, A Lucky Find
“If you don’t have the money, don’t get it” “I was eight and my sister was 10 when my parents moved us to a primary school in Nelspruit. There was no boarding school, so my sister and I were moved into a flat close to school. My dad was meant to stay with us, but he was rarely there. Being ripped from my mom was tough, and forced me to develop independence from an early age. For my parents, school wasn’t about extramural activities or dressing up for civvies days; it was about getting an education. As much as I wanted things growing up, my parents would say: ‘If we don’t have the money, we can’t get it.’ As a child, I remember feeling so frustrated, but it taught me an invaluable lesson: that if I couldn’t justify why I needed something, then I didn’t need it.”
The pressure to keep up overwhelmed me. Eventually, when I dropped out of varsity, I was determined never to be in this position again.
“Failing my degree shaped my relationship with money” “I failed my first degree. I was a top student in high school, but when I arrived at Rhodes University, I felt like a fish out of water. Rhodes was a huge culture shock. I had moved from a small Afrikaans town to an even smaller English town. There were students from private schools, sanlamreality.co.za
students with famous parents… and they all seemed to have money. It was the first time I realised that I wasn’t wealthy. The pressure to keep up overwhelmed me. I didn’t do well academically. I would use my food money and textbook money to go out. A friend of mine even pretended to be my mom so I could open up a store credit account! Eventually, when I dropped out and left, what kept ringing in my head was that I wasn’t educated. I was determined to never be in this position again.” Spring 2021
5
COVER STORY
I wondered, ‘Who is supposed to teach us? Is it our parents, our teachers?’ It was then that I founded Financial Fitness Bunnies, to start a conversation about money. My Facebook page just kept growing and growing, which made me realise that I wasn’t the only one after financial help.”
“Not talking about money is a generational thing that needs to change” “Money can be so boring. It’s filled with jargon that can be intimidating and overwhelming. This intimidation can be detrimental to your wealth over time. Our schooling system often lacks the practical information we need to see our money grow, and many parents aren’t equipped to teach kids about finances. Not having open conversations about money is a generational thing that needs to change. We are the information generation, and we need to pass on this
Financial education is something you can learn, but motivation is something you need every day to keep you going and pursuing your goals. NEED HELP WITH MONEY? Get expert advice to help you achieve your financial dreams and goals. Speak to a financial planner. Call 086 123 5433 to book an appointment.
6
Spring 2021
“We need to understand the impact of our financial choices” “In 2016, I decided to buy a house. I signed the offer to purchase, but, after my bank had granted me the loan, I realised I was borrowing R2 million, but would eventually be paying back R8 million because of interest. The maths didn’t make sense to me. After paying a significant penalty, I managed to get out of it. It was at that moment that I started to think how many of us make financial decisions on a whim. Most of the time, we don’t understand the true impact of the financial choices we make.
knowledge. My father told me that he wanted me to get an education so that I could share what I have learnt with others, and that’s exactly what I’m doing. I want to champion financial literacy, which is why I wrote my book, What’s Your Move?, to share financial concepts and skills to reach financial freedom.”
“There’s no golden ticket when it comes to finances” “Don’t make it complicated. All you need to do is put away that 5% of your salary into a savings account each month, continue to sanlamreality.co.za
Interview: Jaime Waddington; photography: Niquita Bento; creative directors: Marisa Steyn & Juan Geel; hair and make-up: Hedwin Kadzunge; stylist: Cleo Marcopoulos; producer: Ananda Swanepoel; NICOLETTE WEARS, LEFT PAGE: Snake print set, ALYSU; earrings, Lovisa; heels, Aldo; RIGHT PAGE: Wrap dress, Style Rotate; earrings, Selfi x Yellow at The Ultimate Summer Pop Up
life
WATCH NICOLETTE’S WEBINAR FOR
FREE!
Scan the code to watch our ‘Improve your money confidence’ webinar with Nicolette, where she unpacks saving, budgeting, your credit profile & more in our new normal.
pay down that debt, or speak to an expert about starting to invest. It’s also important to remember that products and policies aren’t going to save you from poverty. It’s the simple principles that you apply to your daily life that will secure your financial future.”
“Money is emotional” “After Rhodes, I felt like a disappointment to my parents. Life works strangely that way. I now have five different qualifications, I have my own board game, and a new children’s book about finances, Coco The Money Bunny. Most importantly, money is emotional. Financial education is something you can learn, but motivation is something you need every day to keep you going and pursuing your goals. There are many days when I’ve felt like giving up. But I continue to get up, make my to-do list and get to work.” sanlamreality.co.za
Spring 2021
7
life
EDUCATION
IS YOUR CHILD
FALLING BEHIND? The abrupt move from classroom to remote learning due to the pandemic has been detrimental to many children’s learning. Here’s what you can do to help your kids catch up. By CEBOKAZI SOTOBE ACCORDING TO THE 2020 UNICEF ‘EDUCATION AND COVID-19’ REPORT, more than 1 billion children are at risk of falling behind due to school closures during the COVID-19 pandemic. To keep children learning, countries have been implementing remote education programmes. Yet, many children do not have internet access, personal computers, TVs or even radio at home, amplifying the effects
8
Spring 2021
of existing learning inequalities. As a result, many face the risk of never returning to school, undoing years of progress made in education around the world.
The online schooling dilemma According to Amnesty International, South Africa has borne the heaviest burden in Africa in terms of COVID-19 reported cases and reported deaths. But things were bad even before the pandemic. A report by Amnesty International conducted from 2017-2019 in Gauteng and the Eastern Cape, revealed that out of 23 471 public
schools, 72% had no internet access and 239 schools lacked electricity. Nationally, only 22% of households have a computer and 10%, an internet connection. Most children therefore have little prospect of being able to participate in online schooling and have parents or carers who are usually not in a position to homeschool. Learners were out of school for a considerable period of time over the past year owing to school closures. By early August 2020, South African children had lost on average between 30 and 59 days of school, depending on their grade. The lack of education during this period is sanlamreality.co.za
likely to put them at a serious disadvantage in comparison to those with better-resourced homes.
Our frightening drop-out rates In November 2020, the Minister for Basic Education, Angie Motshekga, announced that more than 300 000 children had dropped out of primary school during the previous six months. Furthermore, South Africa’s five percent decrease in the Grade 12 pass rate shows that education has been a casualty of the pandemic. So what can you do to help your children or dependants?
BEST FREE TV PROGRAMMES FOR KIDS GRADE R-12
GET FREE TELEPHONIC HOMEWORK HELP
Friday at 3:30pm on SABC 2 for lessons on literacy and numeracy for ages 4-8. You can also experience the wonder of saving with the Sanlam Savings Jar (sanlam.co.za/campaigns/savingsjar/). + South Africa’s No.1 study buddy, Geleza Nathi, is broadcast daily on SABC 1 at 5am and brings young viewers the opportunity to kick-start their school day. + TOMZ is a science and technology edutaiment show that tackles different topics that are aimed at young people. It airs Monday and Tuesday at 4pm on SABC 1.
Your child can access free help with their schoolwork and exam prep using the Dial-A-Teacher benefit. Visit sanlamreality.co. za/benefit/dial-ateacher or dial 0860 00 7325 to learn more. T&Cs apply.
+ Tune in to Takalani Sesame, Monday to
development facilitator and career counsellor for Ivy Online Education. “Choose an area that is well lit and well ventilated, with lots of fresh air; this will help your child stay focused for extended periods of learning,” says Louise
Set boundaries and create structure “A lot of children take advantage of their parents’ ignorance, which is why it’s important to create structure,” says occupational therapist, Thelma Ngodu. “Start by
A lot of children take advantage of their parents’ ignorance, which is why it’s important to create structure.
Photography: Shutterstock, macrovector/Freepik, ibrandify/Freepik
Create a learning environment It’s important to set up a study space at home that is similar to that of a schooling environment, with a desk, chair, stationery etc., says Natalie Rabson, skills
Schoonwinkel, managing director for Optimi Home. What to avoid? “The places not conducive to studying are your child’s bed or other areas that they associate with relaxation and entertainment,” adds Schoonwinkel.
setting up a timetable with dedicated time for you to do homework with your child. During this time, make sure the TV is switched off and there are no phones or distractions around.”
If you’re unable to do homework with your child or are worried about not being able to help your child due to a lack of understanding of their schoolwork, ask an older child in your neighbourhood to help. “Creating a community that helps each other is good for everyone involved,” says Ngodu. You can also schedule time to tune into free educational TV and radio programmes. It’s also important to stay connected to the school. Ask your child’s teacher if they have additional learning resources or programmes. Now, more than ever, we need to work together.
YOU HAVE A FREE EDUCATIONAL RESOURCE! Have you tried your Ivy Online education platform benefit? Access a free supplementary education platform for Grades 8-12. Plus, access an online homeschooling platform at discounted tutor rates for Grades 10-12. Visit sanlamreality.co.za/benefit/ ivy-online for more. T&Cs apply.
sanlamreality.co.za
Spring 2021
9
life
ENTERTAINMENT
It’s movie time!
WHAT’S ON SHOWMAX?
You get R30 Nu Metro movie tickets, thanks to your Sanlam Reality membership.
COMING SOON! WATCH THESE FOR ONLY R30! The Suicide Squad Director James Gunn’s new take on the squad will feature a ton of new characters (and some familiar ones), plus plenty of action. Don’t miss supervillains Harley Quinn, Bloodsport, Peacemaker, Captain Boomerang and a collection of cons at Belle Reve penitentiary as they join the supersecret, super-shady Task Force X where they are heavily armed and dropped off (literally) at the remote, enemy-infused island of Corto Maltese.
Showing soon! + Hotel Transylvania: Transformania
Pay just R30 for a 2D ticket and R35 for a refreshment combo at Nu Metro using your benefit. Book via the free Sanlam Reality App or call 0860 00 7325. T&Cs apply.
+ Reminiscence + The Protégé + PAW Patrol: The Movie + Candyman + Shang-Chi and the Legend of the Ten Rings + After We Fell + Venom: Let There Be Carnage + The Boss Baby: Family Business
10
TEMPTATION ISLAND SOUTH AFRICA The producers behind Survivor SA are dishing up another global sensation on local turf. Relationships are put to the test as four couples need to decide their relationship’s fate by trying out the single life in an island paradise. Release date: Late 2021
STREAM MOVIES, SERIES + MORE ON US! As a Reality Club member, you get 3 months’ access to the Showmax R99 package on us, using your benefit. To learn more, visit sanlamreality.co.za/benefit/ showmax. T&Cs apply.
All safety measures are in place & partners will follow due protocol.
Spring 2021
sanlamreality.co.za
Photography: supplied
PAY R30 FOR MOVIE TICKETS
BLOOD PSALMS Inspired by an isiXhosa legend, the 10-part series tells the story of a bold African queen, Zazi, who is up against a world-ending prophecy to navigate her people through complexities, politics and never-ending wars. The proudly South African story unfolds with locations in Gauteng, the Eastern Cape and North West as its backdrop. Release date: Late 2021
QUIZ
life
Are you financially protecting your loved ones? Life is unpredictable, but you can make financial choices to lower the impact of curveballs on your loved ones’ wellbeing. Take this quiz to find out how you’re tracking. 1. How often do you discuss finances with your family? A It comes up occasionally, for example,
when there’s an emergency. B We have a family meeting about once a year to discuss our savings and cover. C Never. Money is a private matter.
4. I look after my health by… A Eating healthily. B Eating healthily, exercising and
getting basic screenings at my local clinic. C … I need to work on that.
5. How do you plan for the future? 2. Do you update your will frequently?
A I have some savings for the next
changes in my life. C I don’t have a will.
few months. B I’ve set up savings goals, ways to pay off my debt, and policies for my loved ones. C I tackle each day as it comes.
3. What would happen financially if you were to lose a family member tomorrow?
6. What would happen to your debt if you were no longer around?
A We have a funeral policy to help
A Some of it would be covered
with the funeral costs. B We have life cover to settle funeral costs and provide for our family. C My savings would have to carry us, or we would have to claim from the UIF.
by my savings. B I have a life policy, which can help in settling debt so my family doesn’t have to. C I haven’t thought of that yet.
Text: Dominique Bowen; Illustration: vectorjuice/Freepik
A No, I haven’t in the past few years. B I try to update it according to
Answers*: MOSTLY As: Having a financial plan, including an updated will, is key to securing your loved ones’ future. “Update your will as things change, for example, if your marital status changes, you have children, or acquire new assets,” says David Thomson, legal adviser at Sanlam Trust.
MOSTLY Bs: You’re on track to protecting your loved ones. “It’s important to not only take out funeral cover,” says Vicky Reddy, Head: Actuarial Business Support at Sanlam Developing Markets Limited. “There is a need for [life and funeral cover], and having both ensures a more costefficient insurance portfolio.”
MOSTLY Cs: The death of your family’s provider can have a serious short- and long-term financial impact. “Ask a financial planner to help draw up an estate plan for you,” says Thomson. “If you have maintenance commitments, you should ensure your life insurance portfolio provides for that in the future.”
*This quiz is not intended to replace the advice of an expert, a professional financial planner or a debt counsellor.
sanlamreality.co.za
STEPS TO 3PROTECT FINANCIALLY YOUR LOVED ONES + COVER WHAT
MATTERS Be ready for life’s unexpected turns by asking a financial planner to assess your risk cover needs. Call 086 123 5433.
+ HAVE OPEN CONVERSATIONS “Sit down with your family and beneficiaries and tell them that you have funeral cover,” recommends Reddy. “Show them where the policy documents are saved or stored [to avoid delays with pay-out].”
+ STORE YOUR WILL ONLINE “If you have an estate plan but no will, you still won’t have control over how your assets are distributed in the event of incapacitation or death,” says Thomson. Store your will online here: sanlam.co.za/personal/ financialplanning/ willstrustsestates/Pages/ online-will.aspx Spring 2021
11
money
CASH
Is it the
END OF CASH? Across the globe we’re seeing the phasing out of cash with the rise of contactless technology, mobile wallets, online payment systems and digital currencies. We unpack the pros and cons of a cashless world.
IT WAS IN 2018 THAT DEBIT CARDS FIRST BEAT CASH as the top way to pay in the US, according to the Federal Reserve’s 2019 Survey of Consumer Payment Choice. At the beginning of 2020, as the COVID-19 pandemic spread, we saw an increase in the use of tap-and-go facilities, particularly as cash was deemed unsanitary by the World Health Organization (WHO), who warned that banknotes may be partly to blame for the fast rate of infection. Some merchants in Seattle and Sydney even tried to stop accepting cash altogether and in the UK the contactless card payment limit was increased to £100 (about R2 000) to encourage the use of cards. Here in Africa, we’re leading the cashless movement in many ways.
According to the GSMA State of the Industry Report on Mobile Money 2019, Sub-Saharan Africa is experiencing the most growth in the mobile money market, increasing 39% annually over the past decade. In Kenya, more than 80% of adults use the mobile-wallet service M-Pesa. MTN reported at the end of September 2020 that nearly 42 million people were regularly transacting on MTN Mobile Money
+ Never open any attachments or click on any links from unfamiliar email addresses. Rather call your bank, or the organisation you believe the email is from, to check if it’s genuine correspondence. + To protect your online accounts, change your passwords often. Avoid creating passwords that can be guessed easily, such as your date of birth. + If you think your personal information has been compromised, contact your bank immediately to block the account.
Cash is expensive to handle, so banks charge more if you’re depositing or withdrawing cash than they do for a digital transaction. (MoMo) across 16 markets. According to a 2018 article titled ‘Zimbabwe and Kenya lead the way in Africa’s dash from cash’ in
HOW TO HANDLE YOUR MONEY IN A CASHLESS WORLD Try to do payments digitally where you can. It’s cheaper, safer and more hygienic. Mngomezulu adds: “Make sure to budget and purchase from accredited online stores. Set limits in your banking apps to avoid spending more.” If you have to pay cash, try to do so for smaller payments like your taxi fare.
sanlamreality.co.za
HOW TO PROTECT YOURSELF FROM HACKERS
The Guardian, Zimbabwe, having abandoned their currency in 2009 and adopted the US dollar in its place, saw very few actual US dollars in circulation. By 2017, electronic transactions rose to 80% while cash accounted for just 20% of transactions. While we’re fast embracing a cash-free society, there are many pros and cons to consider.
The pros Reduced chance of theft: Nomahlubi Mngomezulu, IT executive: SA Retail Mass operations
at Sanlam Sky says: “The biggest advantages are convenience, seamlessness, safety – it’s easier to lose cash, whereas you can always block a card if it’s stolen.” Saving on fees: Cash is expensive to handle, so banks charge more if you’re depositing or withdrawing cash than they do for a digital transaction. Faster payment: Cash deposits can take days to clear, while digital payments can be instantaneous. Reduced corruption: Cash can be hard to trace, but digital transactions Spring 2021
13
money
CASH
HOW TO HANDLE CASH HYGIENICALLY Dealing with cash is still unavoidable. Sanitising each note and coin is possible, but this could prove too timeconsuming. “The best you can do is to wash your hands thoroughly with soap and water after handling cash. Often, this isn’t possible while you’re out, so hand sanitiser is a good substitute,” says Phillips.
leave digital ‘footprints’ that can be tracked.
The cons Government control: Some people fear that the move towards a cashless society could give the government more control. It would give governments the power to intercept transactions or to seize funds more easily.
Cyberattacks: Hackers have become more sophisticated at copying websites or creating emails that look like they’re being sent by an official organisation or government entity. People lose thousands every year by being conned by cybercriminals. Privacy issues: Going digital can give companies access to monitoring
GET TRUSTWORTHY ADVICE Speak to a Sanlam financial planner for personalised advice to plan your finances. Call 086 123 5433 to book an appointment.
14
Spring 2021
your spending, which some people may find invasive. Financial exclusion: Going digital may sound convenient and easy, but for those who don’t have a bank account or access to the internet it could mean being excluded from this service.
Will we go 100% cashless? Experts are divided on whether we’ll achieve a 100% cashless world. The Resilience, Replacement and Renewable 2019 report from global consultancy Kearney suggests we could have a cashless society as early as 2023
with Sweden leading the way. Cashless transactions, says Kearney, have increased substantially on the back of contactless mobile solutions such as Google Pay and Apple Pay, which are set to grow year on year by more than 21% in emerging markets, such as South Africa. Keagan Phillips, financial planner at Adjuvo Wealth BlueStar, says: “I don’t think we will ever be 100% cashless. For whatever reason, there will be plenty of people and businesses who will continue to prefer cash. As most people will testify, cashless systems do occasionally fail. When it happens, cash is often the backup.” sanlamreality.co.za
Text: Angelique Ruzicka; Photography: Shutterstock, upklyak/Freepik
Hackers have become more sophisticated at copying websites or creating emails that look like they’re being sent by an official organisation.
PAYSLIP
money
YOUR PAYSLIP PAYSLIP: UNPACKED Understanding your payslip plays an important role in empowering you as an employee. Here’s what you need to know.
1
Earnings
This is the total cash amount payable to you, excluding deductions and tax. This amount can be made up of: • Basic salary • Commission • Overtime • Allowances • Bonuses
2
1
3
Deductions
These are the amounts that your employer deducts from your earnings: • Unemployment Insurance Fund (UIF) • Pay-as-you-earn, aka PAYE (income tax)
2
5 4
6
Text: Dominique Bowen; Photography: Shutterstock, rawpixel.com/Freepik
PAYE This is the tax that your employer must deduct from your income based on your annualised salary and pay to SARS on your behalf. It's called pay-as-you-earn because you pay a monthly tax deduction instead of a lump sum to SARS at the end of the year.
NEED LEGAL HELP? You have access to free legal help over the phone, 24/7. Call 0860 00 7325 or visit sanlamreality.co.za/ benefit/legal-assist for more. T&Cs apply.
sanlamreality.co.za
Fringe benefits
6
Cost to company (CTC)
“Fringe benefits are additional non-cash benefits offered by an employer for the benefit of an employee and are tax exempted, provided they meet set conditions,” says Seolwana. These could include: • Free or discounted accommodation • Meals • Company car • Educational assistance • Gym memberships • Life insurance
“This is your total earnings + fringe benefits (if any) + company contributions,” says Seolwana.
UIF The UIF provides financial support to you if you become unemployed or are unable to work. “UIF deductions apply to all employees, excluding those who work less than 24 hours per month, students on learnerships, public servants, pensioners and workers who earn commission only,” explains Given Seolwana, managing director of VHG HR and Payroll Consulting.
5
3
Nett pay
This is the cash amount you receive in your bank account on payday. This amount is calculated as follows: (total earnings) – (total deductions) = Nett pay.
4
Company contributions
These are non-cash contributions your employer makes on your behalf, says Seolwana. These could include: • Medical aid • Pension/provident fund • Unemployment Insurance Fund (UIF) • Group risk cover
Total cost to company (TCTC) This can vary across employers, but it normally refers to your cost to company + the company contribution for a skills development levy + the company contribution to UIF + any other additional benefits that are not guaranteed.
What’s a skills development levy? This is an amount employers must pay to develop and improve the skills of their employees. This contribution is calculated based on your salary and paid directly to SARS. Spring 2021
15
health
FOOD
THE FUTURE OF
FOOD A growing population and limited resources will have serious consequences on food security around the world. But is there a silver lining around our plates? We reveal what you may be eating in the future. Bon appétit!
Mother Earth has to provide for
7.7 billion – and counting.
South Africa needs to produce
50%
more food by 2050 to feed a population of 73 million people.
In SA, our demand for most commodities will double, with meat and milk demand expected to rise by more than
200%.
22%
of South African households have inadequate access to food.
Source: World Wide Fund for Nature’s (WWF) Agri-food Systems: Facts and Futures 2019 report
Sea vegetables Cape Town food author, stylist, and blogger Sam Linsell is excited about veggies from the ocean ending up on our plates. “Sea vegetables have been a source of food for thousands of years in parts of Asia (Japan, Korea and China), and been a part of ancient medicine folklore in Europe and in particular Ireland, where seaweed farming is an established part of aquaculture. It will become more mainstream in the future. There are thousands of species of sea vegetables, including nori, wakame, spirulina, dulse and kelp, and this vast resource will be tapped into more. Seaweed delivers the umami flavour profile (the fifth taste) and is highly sought after by chefs. Dried nori is already mainstream in use in sushi, and
TRY: Free Food vegan restaurant and online store in Jo’burg (freefood.co.za); Plant in Cape Town (plantcafe.co.za); Valeo in Durban (@valeowholefoods)
Ancient knowledge is trickling into the mainstream as a sustainable resource. kombu makes up the base for dashi (a Japanese fish broth). Sea vegetables are nutrient-dense and can be included in a variety of dishes, and have huge potential.” BONUS: Adding seaweed to cows’ feeding reduced their methane emissions (a powerful greenhouse gas) by up to 82%.
Plant-based diets A plant-based eating plan focuses on foods that come from plants. This includes not only fruits and vegetables, but also nuts, seeds, oils, whole grains, legumes, and beans. With more people flirting with vegetarianism, or going full vegan, food suppliers, restaurants and fast-food chains will continue to innovate to provide more protein-rich, animal-free foods. sanlamreality.co.za
Insects Bugs may end up inheriting the planet – but first they will feed us. Cricket flour, locust powder, mopane worms, mealworm bacon… these are but some of the insect products you could be seeing in the grocery aisles soon. Our six-legged neighbours are richer in iron, protein, minerals and vitamins than most of the foodstuffs we eat every day, with the edible insect market in the US projected to grow to $80 million (R1.1 billion) by 2024. Europe and Asia are not far behind, but of course here in Africa, we’ve been chomping down on insects for centuries. Ancient knowledge is trickling into the mainstream as a sustainable resource, although in more appetising forms such as flour and powder.
HOW WE’RE PROTECTING SA’S FOOD SYSTEM WITH WWF Sanlam has worked alongside leaders in sustainability WWF-SA since 2007 with the aim to educate the South African public on what they can do to help conserve water. We have helped fund several successful fresh water and marine projects aimed at preserving SA’s water system to help feed our nation. For more info, visit wwf.org.za.
Spring 2021
17
health
FOOD
1/3 The amount of
greenhouse gas emissions that food systems are responsible for.
Fruit, vegetables, cereals make up
70%
of all wasted foods.
35%
The percentage of income lower LSM households spend on food.
Source: World Wide Fund for Nature’s (WWF) Agri-food Systems: Facts and Futures 2019 report
Fermented foods Many jumped on the kimchi (fermented cabbage) train in 2020, but so many different ingredients can be pickled and fermented for later use – plus, it’s good for your gut. When bacteria, yeast or other microorganisms pre-digest food, like what happens during fermentation, the resulting nutritional elements are more easily digested. DID YOU KNOW? Fermented foods
Lab-grown meat When a Singapore restaurant rolled out cultured chicken for sale in December 2020, it was seen as a landmark moment. The meat cells – which can be taken from a live chicken without harming it – were grown in a bioreactor and then combined with plant-based ingredients in a lab. With 60% of mammals on the planet being livestock, 36% being human, and only 4% being wild, farming less meat is vital for food sustainability. FIND OUT MORE: Visit goodmeat.co
18
Spring 2021
Pottering around in your own little veggie patch is not only good for your mental health, but it’ll help the planet and your waistline, too. We will also start seeing sustainable farming – that is, farming in a way that meets our needs without compromising the needs of future generations – increase,
Fermented foods can last up to three months, or longer, without losing their quality or taste. can last up to three months, or longer, without losing their quality or taste. You can even pickle fruits and vegetables such as cherries, fennel, ginger, mushrooms, parsnips and tomatoes.
SAVE WHEN YOU SHOP Every month receive free grocery coupons to help you save when you shop at Shoprite, Checkers and Checkers Hyper. Dial *134*20019# to select the coupons you’d like to redeem.
says Mbali Nwoko, award-winning commercial farmer and CEO of Green Terrace. “Sustainable farming is looking after your people, planet and profits. In my opinion, all farmers, no matter what scale they are farming on, should do their best to adopt sustainable farming practices on their farms to ensure the longevity of the sector.” TIP: To start your own veggie garden, choose a small patch in a sunny location that doesn’t get too much wind, with welldrained soil. Start with something easy like lettuce, green beans, tomatoes and carrots. sanlamreality.co.za
Text: Christine van Deemter; Photography: Shutterstock, Freepik
HOW TO USE: Combine neutraltasting cricket flour with baking flour to add protein to bread, or add a scoop to smoothies or salad dressings.
Sustainable farming – and growing your own
Recharge, reboot and reward yourself with this special, boosted benefit – saving you even more!
Free Nu Metro movie tickets and refreshments Enjoy a movie experience on us! Claim two free movie tickets and refreshment combos.
How do you claim?
Head to sanlamreality.co.za/voucher-offers now to claim your free movie tickets and refreshment combos before 31 October 2021!
Offer valid from 1 September 2021 until 31 October 2021, while stocks last. Terms and conditions apply; visit sanlamreality.co.za/terms-and-conditions for full T&Cs.
health
WORK-LIFE BALANCE
The new work-life balance People in Jo’burg are some of the most stressed people on the planet, with our poor work-life balance being partially to blame. Here’s how to keep yours in check.
20
Spring 2021
JO’BURG IS IN THE TOP 20 OF THE MOST STRESSEDOUT CITIES IN THE WORLD, according to sleep research site Savvy Sleeper’s 2018 study, conducted to determine the world’s cities with the highest levels of workplace burnout. Furthermore, a 2020 report released by the Organisation for Economic Co-operation and Development (OECD) revealed that 18.1% of the workforce worked more than 50 hours a week, ranking us at fourth in the world. And ‘grind culture’ – or giving off the appearance of constantly working – is part of the problem.
“Being busy suggests importance, which some people can see as a sign of success,” says registered counsellor and psychometrist, Lisa Schatz. “This way of thinking, however, can lead to an unhealthy amount of stress and potentially cause physical or mental health issues, such as burnout.”
Spot the signs Is your work-life balance out of whack? Some common signs that indicate it’s time for a change include: • Mental and physical exhaustion • Forgetfulness • Feeling overwhelmed and irritable sanlamreality.co.za
• Feeling out of control • Changes in eating and sleeping habits • Lower self-esteem and a lack of confidence • No clear boundaries between work and home • Weakened immune system When left unmanaged, these symptoms can lead to burnout. Sadly, this happens all too often because of the stigma associated with admitting that you aren’t coping. But, the risk of not taking a step back can result in these signs becoming chronic and even more debilitating.
STRUGGLING TO WORK FROM HOME WITH FAMILY? Set boundaries. Be proactive by communicating with them and creating a schedule, having a designated workspace and specific work hours during which you are unavailable for non-emergency, family-related matters.
now when so many are working from home,” says Schatz. Here are her tips to promote more balance:
If you are feeling overwhelmed, talk to your boss or your HR department. You don’t have to suffer in silence!
Text: Helen Wallace; Photography: Shutterstock, pikisuperstar/Freepik
Back in balance How do you start leading a more balanced life, especially when you are confronted with quotes like ‘Rise and grind’ and ‘Good things come to those who hustle’ whenever you scroll through your social media feed? “Finding work-life balance is easier said than done – even more so
1
“Learn to say ‘no’ and establish boundaries,” she says. You also need to communicate them, so that everyone is clear on expectations. Remember, you can’t please everyone!
2
Switch off, literally. “If your job allows, try not to receive work emails on your phone and avoid answering work-related calls after hours.”
GET HELP FOR FREE, 24/7 Feel like you aren’t coping? You have access to a Trauma, Assault & HIV Assist benefit. Get 24-hour counselling telephonically by calling 0860 00 7325.
sanlamreality.co.za
3
“Know when to ask for help. If you are feeling overwhelmed, talk to your boss or your HR department. You don’t have to suffer in silence!”
4
“Take time for yourself and nurture your relationships. How often do you do the things you love? Can you even remember your hobbies? Try and schedule this into your calendar.”
5
“Create a productive, distraction-free workspace. Set your priorities each day and schedule your time. Time management and planning are vital to keeping your life streamlined.”
6
“Communicate your needs, both at home and at work. We should never assume that others know what we are thinking or feeling. For people to understand us, we need to be open with them.”
HAVE A BREAK According to Robert Pozen, author of Extreme Productivity: Boost Your Results, Reduce Your Hours, we should be taking a break every 75 to 90 minutes to refresh and refocus. Here’s how to ensure you are factoring enough of them into your day. + Set reminders on your phone to alert you when it’s time to stretch your legs. + Organise to take a break with colleagues every hour. + Drink enough water so that you are forced to answer nature’s call more often. + Working from home? Take a time-out by doing some chores. Spring 2021
21
health
LONGEVITY
LIVE How to
to
Cut down on ultra-processed foods
South Africa remains one of the countries with the lowest life expectancy at 62.5 years for men and 68.5 years for women, according to the 2020 Stats SA mid-year population estimates. We unpack the secret to living a longer life, and the truth is: it’s about more than just good luck. By SANELISIWE MALIZA
They may be more affordable and convenient, but ultra-processed foods (like soft drinks, pizza and chips) are packed with salt, sugar, unhealthy fats, preservatives and additives, which have been proven to take years off your life, according to a 2019 study titled ‘Association Between Ultraprocessed Food Consumption and Risk of Mortality’ published in the JAMA Internal Medicine journal.
HOW TO MAKE YOUR MONEY LAST AS LONG AS YOU Sources: ‘Prolonged Leisure Time Spent Sitting in Relation to Cause-Specific Mortality in a Large US Cohort’ 2018, American Cancer Society; ‘Fruit and vegetable intake and the risk of cardiovascular disease, total cancer and all-cause mortality—a systematic review and dose-response meta-analysis of prospective studies’ 2017, International Journal of Epidemiology
+ SAVE FOR
RETIREMENT, EARLY “Retirement planning is not a once-off event that happens when you start working or at age 40 to plan for retirement at age 60 – it is a continuous plan that must be reviewed annually,” says Esta Theron, business development manager at Glacier by Sanlam. “Since the number of years in retirement is increasing due to life expectancy increasing, the difference in the number of years between the
pre-retirement phase and the post-retirement phase has become less. Your financial planning therefore has to provide for a longer retirement.”
as soon as possible after you start your working career, as it is normally cheaper when you are younger and healthier,” says Theron.
+ DON’T FORGET
+ SPEAK TO A
ABOUT RISK “An important financial planning aspect that needs more attention, especially at age 40 and younger, is risk planning. Since we’re living longer, risk planning becomes even more important. Life cover needs to be taken out
FINANCIAL PLANNER A financial planner can ensure your financial plan includes long-term solutions to suit later retirement and the likelihood of living longer. “Holistic financial planning will focus on all your needs at every age and should
include life cover, disability cover and saving for retirement,” says Theron. Get personalised advice by speaking to an expert financial planner. Call 086 123 5433.
The benefits of exercise go beyond the physical and extend to the mental, too. “A single food won’t grant you longevity, but your lifestyle and your relationship with food can,” says dietician Rhodene Oberholzer. Oberholzer suggests focusing on foods that contain high-quality nutrients (like salmon, kale and blueberries).
Eat even more fruit and veggies A 2017 study published in the International Journal of Epidemiology found that 5.6 to 7.8 million premature deaths worldwide stem from people eating less than 500 grams of fruit and 800 grams of vegetables daily. Oberholzer recommends trying the Mediterranean diet. The characteristics of this eating pattern include a high intake of fruit, vegetables, legumes (beans, lentils), wholegrains, nuts and seeds, and abundant use of plant oils, especially olive oil. These food groups have been shown to support the body and reduce the risk of certain diseases such as heart disease and Type 2 diabetes, which will help you to live a healthier, longer life. sanlamreality.co.za
Keep moving The 2016 study ‘Sedentary Behavior and Mortality in Older Women’ published in the American Journal of Preventive Medicine revealed that sitting for long stretches of time (like watching TV or spending the whole day at your desk) increases the odds of an untimely death. According to the American Cancer Society, those who spent more than six hours of leisure time a day sitting had a 19% higher mortality rate than those who spent less than three hours of their leisure time on the couch. The benefits of exercise go beyond the physical and extend to the mental, too. Exercising remains an important part of stress management. According to a 2020
Harvard Medical School web article titled ‘Exercising to relax’, strength training and stretching two to three times a week can help reduce stress.
Don’t skip your check-up Regular check-ups can help find potential health issues before they become a problem. According to emedicinehealth.com, the American Medical Association and other similar groups have moved away from the yearly exam and now suggest that check-ups be referred to as Periodic Health Assessments or Examinations and be performed every five years (for adults over 18) until age 40 and every one to three years thereafter.
USE YOUR BENEFIT You get 20% off your monthly fee at Planet Fitness, and up to 60% off at JustGym. Plus, join JustGym in September, October or November 2021 and you won’t pay a cent in joining fees, saving R250. Learn more by visiting sanlamreality.co.za/benefits/health.
Spring 2021
23
club
GET REAL
MEET THE
MEMBERS You share why you love Reality Club magazine
“As a single mother of five dependants, I follow every bit of information [the magazine] gives about saving money. It really works for me because I can manage to do everything with my salary, and even save money for the future because of your tips. Thank you so much, Sanlam Reality.” – Tembisa Bangiso, Reality Club member
“My favourite part of the magazine is the Money section. It suggests how to save and not to spend unnecessarily. I’ve learnt to save money towards my goals instead of taking out a loan. Though it is not always easy to follow or practise everything by the book, I now work on a monthly budget and plan ahead at the same time.” – Cynthia Simelane, Reality Club member
Make the most of your Reality Club membership These are all the benefits and discounts available for you to enjoy.
BENEFIT
OFFER
Wealth TaxTim
Easy tax returns with TaxTim
Wealth Sense
Online financial assistance
Day-to-Day savings Discount Coupons
Savings at Shoprite, Checkers and Checkers Hyper
Health Planet Fitness Gym
20% Off a 12-month contract
JustGym
Up to 60% off a 12-month contract
Travel Intercape Bus
Get 50% off; two tickets per year
Nu Metro movies and refreshments
3 000
OVER OF YOU ANSWERED OUR EMAIL SURVEY – HERE’S WHAT YOU THINK OF YOUR MAGAZINE
98%
The overall satisfaction rate with the magazine among members
Three months’ entertainment streaming per year on us
Reality Club magazine
Three times a year
Personal Assistant
59%
Of members regularly read the magazine
2
Spring 2021
Showmax
Personal services
62%
Of you who are engaged with the Sanlam Reality benefits read the magazine
DAYS How long you typically spend reading and enjoying the magazine
24
R30 for a 2D ticket, R35 for a refreshment combo (10/month)
On call, 24/7, 365 days a year
Dial-A-Teacher
Educational help and call-back service
Ivy Online education platform
Access a free online supplementary education platform for Grades 8-12, and a complete online schooling platform at discounted tutor rates for Grades 10-12
Legal Assist
Legal helpline (24/7)
Trauma, Assault & HIV Assist
Expert assistance helpline (24/7)
Use this benefit in your Sanlam Reality App. For more, call 0860 00 7325, visit sanlamreality.co.za or email info@sanlamreality.co.za. Benefit T&Cs apply. sanlamreality.co.za
Interviews: Dominique Bowen; Photography: Shutterstock, Freepik/vectorjuice. Pricing correct at time of print.
Entertainment
Set your kids up for success!
Access Ivy Online, a free supplementary online-education platform for Grades 8-12, based on the CAPS curriculum. Plus, enjoy discounted homeschool tutoring for Grades 10-12.
Visit sanlamreality.co.za/benefit/ivy-online to learn more. T&Cs apply.
KINGJAMES 52818
Confidence Rule 24:
TIME AND MONEY ARE BOTH VALUABLE. SPEND THEM WISELY. 4 hours. That’s how fast we pay most funeral claims. A funeral should be about celebrating the memory of your loved one. That’s why we offer financial peace of mind with a 4-hour payout so you can focus on what really matters. To find out more about Sanlam Funeral Plans, SMS “Funeral” to 37166 and we’ll call you back. Terms and conditions apply. Excludes Sanlam Employee Benefits Funeral Insurance.
Sanlam Developing Markets is a Licensed Life Insurer and an Authorised Financial Services Provider.
