Summer 2021/2022
Does your partner earn more than you? A COUPLE’S GUIDE TO CO-BUDGETING
CONQUER YOUR
SELF-DOUBT IN MEETINGS
WHAT IS A
VARIANT?
Experts explain the science behind the headlines
HOW EASY IS IT TO
STEAL YOUR IDENTITY?
Understand digital identity fraud
THE WHITE LOTUS
GANGS OF LONDON
Are you hooked yet? A VERY BONANG YEAR
Have you activated your new Showmax benefit? You get 3 months’ entertainment streaming with the R99 package on us!
A DISCOVERY OF WITCHES
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.
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.
SANLAM REALITY PROGRAMME Head of digital, marketing and communications Francois Uys Communications manager Lucille Moore Communications coordinator Hasina Khan SANLAM REALITY CALL CENTRE Telephone 0860 00 7325 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
PUBLISHED BY NARRATIVE FOR SANLAM REALITY
Contents On the cover 4
DIGITAL IDENTITY THEFT
How easy is it to steal your identity?
EDITORIAL Editor Jaime Waddington Content editor Dominique Bowen Email mag@sanlamreality.co.za Contributors Daniel Bouwer, Linda Nordling, Pontsho Pilane, Jade Taylor-Cooke, Helen Wallace PRODUCTION Head of production & innovation Sonja Genis Senior traffic manager Kelly Hendricks
8 OVERCOME SELF-DOUBT
CREATIVE Creative group head Juan Geel Art director Marisa Steyn
Also inside
NARRATIVE Managing director Robyn Campbell Business lead Lauren Brabant Chief content officer Sarah Browning-de Villiers Content officer Jaime Waddington Digital account director Nawaal Alexander 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 All content and pricing correct at time of print.
Printed by
A division of Novus Holdings
Photography: Shutterstock, supplied
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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.
How to be heard in meetings
16 CO-BUDGETING
Money tips for couples
22 WHAT IS A VARIANT?
Experts explain
12 MONEY 12 THE DEBT SPIRAL
What you need to know
18 HEALTH 18 KIDS, COVID-19 & MENTAL HEALTH
Are your children coping?
24 CLUB 24 YOUR MEMBERSHIP
4 LIFE 10 ENTERTAINMENT 11 QUIZ
How to break free
15 CHOOSING BENEFICIARIES
How much your PA benefit is saving you, revealed!
Are you saving enough for your child’s future?
THIS WILL BE YOUR LAST PRINTED MAGAZINE
We’re choosing to invest even more than we already do in your digital experience. We will continue to invest in empowering financial content and education digitally, including on Wealth Sense – please do continue to enjoy our new, original content there each month. Visit sanlamreality. co.za/wealth-sense or scan the code to visit our Wealth Sense content portal.
Printed on paper sourced from sustainable forests.
Summer 2021/2022
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life
DIGITAL IDENTITY THEFT
HOW EASY IS IT TO
STEAL YOUR IDENTITY? Personal data is one of your most valuable assets, but it’s also among the most vulnerable. Are you doing enough to protect yourself from digital identity theft? By DOMINIQUE BOWEN
YOU HAVE FREE LEGAL HELP
What’s your digital identity? Gone are the days when your identity started and ended with a little green book. Organisations capture so much more data about you as an individual, including your movements, preferences, dislikes and health record. Stored digitally, this collection of personal data is your digital identity; it’s what allows you to bank online, for example, trusting that your information is stored by a reputable organisation in a secure way. But what’s at stake when this information lands up in the hands of criminals?
How easy is it to steal your identity? Sadly, as consumers, we’ve made identity theft a walk in the park for
We have qualified legal experts on standby to help if you think you’ve become a victim of digital identity fraud. Call 0860 00 7325 for free help, 24/7. T&Cs apply.
criminals. Leave enough information about yourself lying around – either on social media, account statements or shared email threads – and they can gradually collect and fill out a picture of you. “As soon as criminals have your ID number, they’re in a position to ‘purchase’ your entire profile from the dark web, including your full name, credit record, where you live, the amount outstanding on your bond, your phone number and more,” says Megan Govender, head of forensic services at Sanlam. “They can use that information in myriad ways, from attempting to change your
Another factor at play:
the mass transition to working from home
337%
increase in digital identity theft 2019-2020
The August 2020 data breach by one of the country’s largest credit bureaus could’ve had a role to play in this spike.
due to COVID-19.
Without the same level of data security offered in-office, any sensitive data you transfer goes over less secure networks and is far more vulnerable.
Source: Southern African Fraud Prevention Service’s (SAFPS) 2020 fraud statistics report
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DIGITAL IDENTITY THEFT
SEE YOUR FREE CREDIT REPORT THROUGH SANLAM Sanlam Credit Solutions allows you to conveniently understand and manage your credit profile – and registration is free! Visit sanlamcreditsolutions.co.za. T&Cs apply.
Only share your ID number with authorised individuals for legitimate reasons. internet banking password and accessing credit in your name to impersonating you to your insurer or investment company to retrieve your funds and benefits.”
Consequences of identity theft If you notice anything amiss – SMSs from a credit provider about
transactions you aren’t aware of, or worse, debt collectors chasing you for settlement – treat it with urgency. The consequences of identity theft are far-reaching, even once you’ve blocked your credit card. Besides unwittingly earning yourself a poor reputation with lenders, your credit score takes a nosedive, too. Unless you clear your name with the authorities, you’re stuck with a bad credit profile, making future credit agreements like a home loan a headache to obtain.
STEP 1 Contact the lender with whom the impersonator has opened an account in your name. Provide the necessary information to prove your innocence, and you will be issued a letter confirming the impersonation.
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STEP 2 Report the theft to your local SAPS. STEP 3 Use the letter confirming impersonation, along with supporting documents, to apply for Protective Registration
on the SAFPS website: safps. org.za. Once loaded, your ID number will be flagged on the SAFPS database to show that you have been a victim of impersonation, which alerts future credit providers to take additional care when confirming your identity.
sanlamreality.co.za
Photography: Shutterstock, supplied
HAS SOMEONE STOLEN YOUR IDENTITY?
Steps to protect your digital identity
1
CHECK YOUR CREDIT REPORT OFTEN
It’s important to stay one step ahead of fraudsters. To spot any signs of identity theft, Ayanda Ndimande, business development manager at Sanlam Retail Credit, suggests checking your credit report regularly. “There you will notice unknown credit accounts, too many enquiries in your name that you are not aware of, a drop in your credit score or a judgement or default in your name,” she says.
2
SCRUTINISE YOUR BANK STATEMENT
Many banks set a purchase amount threshold for eNotes when you make a purchase or a debit order goes off your account, so you may not be alerted to the odd small amount being debited. This is why it’s important to scrutinise your bank statement monthly to spot anything fishy and stop fraud in its tracks. “Look for unauthorised debit orders for a contract or credit account you have no knowledge of,” suggests Ndimande.
3
THINK TWICE BEFORE SHARING
While a criminal can be charged under POPIA for exploiting your personal data, by that time your data is irreversibly disseminated far and wide. Only share your ID number with authorised individuals for legitimate reasons.
sanlamreality.co.za
Summer 2021/2022
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life
SELF-DOUBT
How to CONQUER YOUR SELF-DOUBT in meetings Turn that niggling voice in your head into one that champions your worthiness to be heard.
EVER LEFT A MEETING AND WANTED TO KICK YOURSELF for not raising your hand to share your thoughts? Or you spoke, but your voice sounded like a whisper and all you saw was eyes glazing over around you. It can be disheartening seeing how your selfdoubt gets in the way of participating in group meetings. The good news is that self-doubt is a mental mountain you can conquer with the right attitude and steps.
Note to self: you are worthy! “Self-doubt stems from us confusing esteem and confidence,” says Telana Simpson, courage coach and founder of Inner Coaching. “This confusion results in us constructing our sense of self conditionally,” she explains. When your
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sense of self-worth rides on how you are seen, self-doubt can creep in and take over. You can easily default to holding back from speaking, and shrinking away because you don’t think you’re enough, hindering your development. How often do you hear of someone who shrunk away and still got the promotion, praise for their contribution to a project, or recognition among their louder, prouder peers?
Practice builds confidence “If we don’t understand that confidence comes from practice, we expect ourselves to be ‘perfect’ straight away, and all the time,” explains Simpson. An unrealistic expectation, right? The reality is that few people speak confidently without having had loads of practice (which includes mishaps along the way). If you find yourself envying your colleagues’ cool and confident delivery in meetings, use it to understand your own picture of success, suggests Simpson. “Envy can show you what you would like in your own life, or want to develop within yourself, and what is important to you,” she elaborates. Treat it as a trigger to show you what is possible. “If someone else can have that level of outward confidence, then it is humanly possible for you to achieve it, too,” notes Simpson.
How to give self-doubt the boot
Text: Dominique Bowen; Photography: Shutterstock
» GET OUT FROM UNDER YOUR OWN SPOTLIGHT When you’re speaking in a meeting, you trick yourself into believing that all eyes, ears and minds are on you and nothing else. Not true! “People may be looking at you and listening, but they are just trying to understand your message, and more likely have their own issues about speaking up, so they are focused on their own stuff,” says Simpson. Instead of angling that spotlight on yourself, turn it to focus on your message. “If your attention is on your message, and not on yourself, your focus is then on the topic at hand, and not on your inner experience from speaking up,” says Simpson. Practising this will ‘starve’ your self-consciousness, which is an important step in growing your confidence. sanlamreality.co.za
YOU HAVE A PA IN YOUR POCKET! Feel like you’re juggling way too much and need a helping hand? Use your free Personal Assistant benefit to help tick off your to-do list and make life a little easier. Visit sanlamreality.co.za/ benefit/personal-assistant/.
» PREPARE AND SAY ‘BYE-BYE’ TO NERVES A healthy dose of nerves can make for a more engaging delivery. However, there’s no harm in preparing by setting aside time ahead to distil your thoughts and strategise how to maximise your audience’s attention and get them engaged in what you have to say.
» YOU ARE YOUR GREATEST COMPETITOR “When we compare ourselves to ourselves, we can acknowledge where we did things well and celebrate this, which reinforces these accomplishments,” says Simpson. Taking
If we don’t understand that confidence comes from practice, we expect ourselves to be ‘perfect’ straight away. stock of where you still need to improve makes a difference as opposed to measuring yourself against others’ abilities. If you find you battle with an inner critic, let that voice morph into your most supportive friend as you grow your confidence. “When we speak to ourselves honestly yet supportively, we gain the value of holding ourselves to a high standard, but not beating ourselves up when we need support and encouragement,” says Simpson.
Look forward to the rewards Being intentional about tracking your own growth can offer great value to your sense of selfconfidence in meetings, as Simpson notes: “When we do this, we enjoy the growth that comes from learning, and we embrace ‘failures’ as feedback moments. These are moments where we separate ourselves from our doing, and can take the feedback in a way that helps us learn to do better next time.” Summer 2021/2022
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ENTERTAINMENT
It’s movie time!
WHAT’S ON SHOWMAX?
We’re rewarding you with four FREE movie tickets & refreshment combos until 31 January 2022.
COMING SOON: WATCH THESE MOVIES FOR FREE! Ghostbusters: Afterlife
SHOWING SOON!
CLAIM YOUR FREE MOVIE TICKETS To kick-start your summer, we’re rewarding you with four FREE movie tickets and refreshment combos. Visit sanlamreality. co.za/voucheroffers. T&Cs apply;
DEXTER: NEW BLOOD Everyone’s favourite serial killer is back. This new series is set 10 years in the future, after Dexter Morgan went missing in a hurricane. It sees him just as conflicted between his desire to kill and his longing to find true happiness as he was in the original award-winning show. Release date: January 2022
STREAM MOVIES, SERIES + MORE ON US!
+ Eternals + The Matrix Resurrections
+ Encanto
while stocks last.
ZOEY’S EXTRAORDINARY PLAYLIST S2 This Emmy-nominated series managed to get our toes tapping in season one. Now get ready to binge on the second season of this popular musical comedy, which will have you laughing, crying and singing along to the songand-dance numbers strung together to tell Zoey’s story. Release date: December 2021
+ House of Gucci + West Side Story + Sing 2 + The King’s Man
As a Reality Club member, you get 3 months’ access to the Showmax R99 package on us, using your benefit. Learn more by visiting sanlamreality. co.za/benefit/showmax. T&Cs apply.
All safety measures are in place & partners will follow due protocol.
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Summer 2021/2022
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Photography: Shutterstock; supplied
Featuring some of the familiar faces from the original 1984 hit film, this third instalment of the Ghostbusters franchise tells the story of a single mother and her kids as they experience unexplained disturbances at their new house. The children learn about their grandfather, his connection to the now-forgotten ghostbusters, and, when supernatural phenomena become a global threat, they must use their equipment to become the new generation of ghostbusters, and stop them.
QUIZ
life
Are you saving enough for your child’s future? Tertiary studies can unlock opportunities for your child to succeed, but a good education isn’t cheap. Are you prepared for the costs? 1. The way things are, my child will probably…
4. What savings goals have you set for your child’s future?
A Finish school and work to pay for studies. B Work and hopefully move up the ranks. C Have the freedom of choice to study after school.
A We don’t have a goal – I’m just saving whatever I can. B We haven’t set a goal beyond their matric. C We’ve set a figure, and prioritise that over impulse spending.
2. We’ve been saving for our child’s studies since… A … they began high school. B Never. C … they were born.
A Tough decision. Those savings
3. If you can afford studies for your child, how long will the savings last?
Text: Dominique Bowen; Photography: Shutterstock
5. You’ve spotted a deal on a flat-screen TV. What do you do? are tempting…. B Deals don’t come along every day! C Deals come and go. My child’s education is more important.
A Probably the first year or two. B We will have to rely on a loan if we
6. What are you using to save for your child’s education?
don’t get a bursary. C We have enough saved for three years of study.
A We’re saving with a normal bank account. B Nothing at the moment. C We have a monthly debit order to a unit trust.
Answers*: MOSTLY As: You have the right idea, but consistently saving will be more rewarding. “Make savings a compulsory deduction,” suggests André Wethmar, a senior financial planner at FinPrufeWealth BlueStar, underwritten by Sanlam.
MOSTLY Bs: Not saving, or not saving enough, could mean you or your child will be saddled with debt. “Pitfalls of not saving include high interest on student loans, and the liability on your child when they start their career to repay debt,” says Wethmar.
MOSTLY Cs: It seems you are on track to securing a bright future for your child. Keep it up! To optimise your savings, Wethmar suggests reviewing your strategy with a financial planner annually.
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TIPS FOR PREPARING FOR YOUR CHILD’S EDUCATION + START SAVING EARLY
The sooner you start, the more savings you can build for your child’s future. “Every month, a small amount with compound interest can get you to the finish line,” says Wethmar. Use our savings calculator to work out how much to put away: sanlamreality.co.za/wealthsense/savings-calculator/
+ PLAN WELL A financial planner will be able to help you decide which savings vehicle to use to grow your child’s education fund. Book a meeting now: sanlamreality. co.za/contact-an-adviser/
+ DON’T BE TEMPTED
*This quiz is not intended to replace the advice of an expert, a professional financial planner or a debt counsellor.
“Don’t withdraw money for other expenses during the savings journey,” says Wethmar. This can set you back on reaching your goals.
sanlamreality.co.za
Summer 2021/2022
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money
DEBT
THE DEBT TRAP How to avoid getting caught
South African consumers’ debt situation is getting worse, with the average debt-to-income ratio at its highest level yet, according to debt-counselling company DebtBusters’ Q2 2021 Debt Index. Financial experts share practical steps for escaping the debt spiral and becoming financially confident. By DANIEL BOUWER
SOUTH AFRICANS ARE DROWNING IN DEBT. The June 2021 South African Reserve Bank bulletin revealed that South Africans spend 75% of their take-home pay on debt, leaving little money to cover basic costs like food, school fees and transport. As a result, people turn to more debt to make ends meet, continuing a cycle of crisis management that seldom has a positive outcome. But just how does one go about tackling debt? And more importantly, avoid being trapped in a debt spiral forever?
good and bad debt – now more than ever – to secure financial stability in the long run. “Debt is officially classified as ‘bad’ when payments are missed and the account goes into arrears,” says Ayanda Ndimande, business development manager of Retail Credit at Sanlam. “‘Bad debt’ can also refer to unnecessary debt that does not increase your wealth in the long term. An example could be a retail store account. ‘Good debt’ is debt you can afford, that may
“In times of financial crisis, it’s often a lack of confidence and desperation that stops people from confronting their money matters and seeking help,” says Ndimande. Moreover, there are often feelings of guilt and shame associated with debt. But do not stick your head in the sand. Nicki Blignaut, senior financial planner and principal at 2one2 BlueStar, underwritten by Sanlam, says, “Debt can
Debt can feel like a mountain that’s impossible to climb. But more often than not, there are solutions.
Good debt vs bad debt In the economic aftermath of COVID-19, the 2020 BankServAfrica Take-home Pay Index revealed that the number of South Africans receiving a salary/wages declined by 35% in July 2020 compared to July 2019. While there has been a recovery, it is still important to understand the difference between
Confront your debt
increase your net worth and generate value on an ongoing basis – like a student loan, home loan or vehicle finance. Personal loans could also be seen as good debt when they are used for ‘good’, such as revamping your house to increase its value.”
feel like a mountain that’s impossible to climb. But more often than not, there are solutions – something can always be done,” she adds. List every single piece of debt you have – good and bad – as well as the remaining amount owned. It’s important to
GOOD DEBT
BAD DEBT
Increases your net worth and helps you generate value while enhancing your life.
Does not increase your net wealth and is used for purchases that neither have lasting value, nor enhance your life.
Mortgage loan
Credit cards not used responsibly (and not settled monthly)
Student loan
Payday or cash advance loans
Car finance
Retail store accounts
Credit cards – when used responsibly (like in the case of emergencies), and settling instalments every month
Paying only the minimum on accounts, and then maxing them out again soon after
sanlamreality.co.za
ACCESS A CREDIT COACH – FOR FREE Manage your credit profile and speak to a credit coach with Sanlam Credit Solutions. Visit sanlamreality.co.za/ wealth-sense/ sanlam-creditsolutions to register. T&Cs apply.
come face-to-face with your debt in order to tackle it head-on. For Jyoti Gopee, a financial planner at Pinnacle BlueStar, also underwritten by Sanlam, factors like your family background or a bad experience with money also play an important role in how we view and handle our money. “As an exercise, acknowledge your emotional state before making purchases for things like clothing or shoes,” says Gopee. “Ask yourself, ‘Am I feeling overwhelmed at work or home? Am I in a state of distress?’” Gopee says that often these underlying emotions are what cause us to make impulsive purchases, which is why it’s important to recognise these moments.
Spot the warning signs Gopee points out that the first big warning sign is when you start Summer 2021/2022
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DEBT
falling short in your budget with respect to your monthly living expenses, or more simply put, when your expenses start exceeding your income. “When this happens, people often start acquiring further loans to honour existing loans, and it becomes a never-ending cycle,” she explains. Russell Dickerson, president of the Debt Counsellors Association of South Africa, agrees. “We often call this the ‘debt whirlwind’,” he says. “You don’t sink, but you can’t get out. This can carry on for years – and this is where many people in South Africa are today.” Dickerson points out that this is when many people start pursuing desperate measures, like accepting agreements with loan sharks, which can cause more financial harm.
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“If you feel that you’re unable to meet the required payments, speak to your bank or other parties involved. Often a new agreement
1
EVALUATE
“Look at your finances closely, making sure that every rand works as hard as it can. It’s easy to overlook the small things like takeaways, not realising what a difference it can make cutting those expenses.”
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and loans, the rule of thumb is to always start with the smallest one. Once you’ve paid it off, that money can go towards the next debt, and so on.”
STRUGGLING TO MANAGE YOUR DEBT? A financial planner is best suited to give you personalised advice on how best to tackle your debt. Call 086 123 5433 to book an appointment.
and more. Sometimes newer offers work out better financially over the long run. Staying on top of your finances at all times allows you to spot those opportunities.”
Don’t give up
It’s always better to communicate, rather than allow things to go from bad to worse.
Tackling debt head-on Blignaut shares her top tips for staying on top of your credit, while actively working towards your financial goals.
COMMUNICATE
can be made. It’s always better to communicate, rather than allow things to go from bad to worse. Moreover, it’s important to communicate with a financial planner who can help you understand and unpack your situation, with practical and achievable solutions.”
3
PRIORITISE
“If you have several debts you’re paying off, such as credit cards
4
ACT
“Take action when things feel serious. Taking up a small part-time job, for instance, can go a long way. Even if it’s just an extra R500, it can help pay off debt just that much faster.”
5
AUDIT
“Even when things are under control, always audit your statements, looking closely at things like debit orders, policies
While servicing your debt, it’s important to put some money toward a rainy-day fund. “People often go into debt due to an emergency,” warns Gopee. Dickerson points out that in times of crisis, many also turn to loan sharks. “These ‘mashonisas’, as they’re also called, understand the people that need their help, and usually operate close to them. However, they can be unpredictable and can even turn to aggression, as they operate in an unregulated environment. Their interest rates can be incredibly high, with severe financial penalties,” warns Dickerson. “With the right help, you will be back on your feet, while setting yourself up to live with financial confidence,” says Ndimande. sanlamreality.co.za
Photography: Shutterstock
money
BENEFICIARIES
money
Things you should know when selecting
BENEFICIARIES
Life is unpredictable, which is why your policies should be updated regularly so you have peace of mind that the right people will get paid out.
Text: Dominique Bowen; Photography: Shutterstock
HAVING OUTDATED POLICIES CAN BE AN EXPENSIVE MISTAKE. The wrong people could be recipients of a payout, leaving those you care about high and dry. Consider these points when it comes to your policies.
YOUR EX WON’T AUTOMATICALLY BE REMOVED FROM YOUR POLICY If you get divorced, unless you manually request for your former spouse to be removed as a beneficiary on a policy, they will be eligible for the payout of that policy if you die. Queen Kganyago, provincial executive at Sanlam, adds: “Getting married will also not automatically affect the beneficiaries on your policies.” sanlamreality.co.za
THE DEATH OF A BENEFICIARY While there is no age restriction for beneficiaries, think long term about the impact of nominating an older person. If, for example, your grandparent is a beneficiary of your life policy, but they die before you do and the policy isn’t updated, the proceeds of the policy will be paid to your deceased estate, not your
GET EXPERT HELP! If you need to update your policy beneficiaries, a financial planner can help you. Book a meeting with one today by calling 086 123 5433.
grandparent’s deceased estate, says Kganyago.
ARE YOU A SINGLE PARENT? Minors aren’t eligible for a direct payout, so you need to appoint a legal guardian to whom the policy will be paid. “In the absence of any guardians, the Master of the High Court may elect a guardian or a guardian fund to invest the money in,” says Kganyago.
UNDERSTAND YOUR WILL VS POLICY Your policy is unaffected by your will as far as beneficiaries go. “A nominated beneficiary will still benefit from the policy regardless of whether they are included in your will,” says Kganyago. Summer 2021/2022
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CO-BUDGETING
Yours, mine and OURS From splitting the bill to signing a lease: a couple’s guide to co-budgeting like pros. ACCORDING TO THE LATEST Stats SA Marriages and Divorces report, four out of 10 South African marriages don’t make it to their 10th anniversary. Furthermore, US financial counselling company Ramsey Solutions study* notes that arguments about money are the second most cited reason that
couples divorce (after infidelity). That means that setting a healthy co-budgeting foundation – one that both partners agree to and feel is fair – could mean the difference between happily ever after and Splitsville. And it’s a bit more complicated than just going halvies on rent, particularly if one of you earns more.
GET EXPERT HELP Every couple handles budgeting, spending and saving differently. Speak to a financial planner to get personalised advice on how best to tackle your budget. Call 086 123 5433 to book an appointment.
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How to get on the same page While we wouldn’t suggest bringing your balance sheet to a first date, a conversation about how you’re going to pool and spend your resources will eventually be necessary if you want your relationship to stay the course. “Communication about finances in a relationship is key,” says FAMSA social worker and relationship counsellor Sandy Jackson. You may assume that because you have the same taste in series and Sunday breakfast spots, you share similar views on money. However, this isn’t guaranteed. “Individuals in a relationship often have differing attitudes towards, and expectations of, money,” says Jackson. “This can be due to factors such as family history, different ‘money personalities’ and differing financial goals.” Talking about finances may feel like a mood killer at first, but it’s the best way to explore your different attitudes to money and sanlamreality.co.za
Text: Jade Taylor Cooke; Photography: Shutterstock. Source: *‘Money ruining marriages in America’ 2018, a Ramsey Solutions study.
get on the same page. “The initial vulnerability and discomfort could prevent many financial challenges arising at a later stage,” says Jackson. Here’s how she recommends approaching the subject: 1 Schedule a time for the discussion when you’re both prepared and mentally open to the topic. 2 Keep the conversation goalorientated (rather than judgemental). 3 Speak honestly to each other and listen attentively. 4 Create a plan that is beneficial to both partners. 5 Commit to sticking to the plan, and to being honest if you accidentally deviate from it. In need of relationship couselling? Call FAMSA Western Cape on 021 447 0170.
How to co-budget, whatever relationship stage you’re at WHEN YOU’RE DATING… “I would suggest you ‘go Dutch’ or take turns to pick up the bill,” says financial planner at Pinnacle BlueStar, Jyoti Gopee. WHEN YOU’RE ATTENDING WEDDINGS AND GOING ON HOLIDAYS TOGETHER… “Have open conversations with your partner to set ‘couple goals’ for these spending categories,” says Gopee. “This will help you avoid a misalignment in goals, and discomfort or uneasiness relating to money matters.” WHEN YOU MOVE IN TOGETHER… “Draw up a list of living expenses and decide which ones you are both in agreement to share,” says Gopee. “You could split these 50-50, or each take full responsibility for specific expenses.” For example, one of you handles insurance and medical-aid payments while the other takes care of rates and utilities. sanlamreality.co.za
USE YOUR CALCULATORS & TOOLS Calculate how much income tax you’ll pay, how much to save for retirement, or how much to set aside to reach your savings goal and so much more: sanlamreality.co.za/calculators-tools/.
Another route you may take is to share expenses according to the ratio of your respective net incomes, says Gopee. “For example, Partner A earns a net income of R10 000 per month and Partner B earns a net income of R5 000 per month. Let’s say their total living expenses come to R12 000 per month. If they allocate expenses proportionally, it could look like this: Partner A: (R10 000 ÷ R15 000) x R12 000 = R8 000 Partner B: (R5 000 ÷ R15 000) x R12 000 = R4 000 That means Partner A should contribute R8 000 per month to the expenses, and Partner B should contribute R4 000 per month.”
rule out a divorce or even the death of a partner. If your partner passes away, your joint account may be frozen, which carries a cash risk for the surviving partner who no longer has access to the funds in that account.” What about combining debt? “When co-budgeting, pre-existing debt should not be combined,” advises Jackson. “Debt remains the responsibility of the person who incurred it. Any loans should remain in the original owner’s name. One partner can help the other to develop a repayment plan, but they should not be paying for their partner’s debt. Sharing pre-existing debt often causes long-term resentment.”
One partner can help the other to develop a repayment plan, but they should not be paying for their partner’s debt. WHEN YOU’RE MARRIED… Should you pool your resources in a joint bank account? “I’m very hesitant to encourage joint banking accounts for couples,” says Gopee. “Poor management on the joint banking account may negatively affect both of your credit ratings, which will impact lending rates for any future credit applications. Life bears no certainties either, and you cannot
This is not a one-and-done activity, either. “Ideally, a couple should set up regular appointments with one another to discuss their finances and the progress they’ve made,” says Jackson. Try to make these chats as enjoyable as possible (in your pyjamas, with pizza, perhaps?) and celebrate your wins to reinforce all the positive action you’re taking. Summer 2021/2022
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health
ADOLESCENT WELLBEING
Why the kids are
NOT alright
The ongoing stress, fear, grief and uncertainty created by the COVID-19 pandemic has weighed on all of us, but many children and teens have had an especially tough time coping emotionally. Here’s how to spot the warning signs of a child who is struggling, and how to provide support. By PONTSHO PILANE
AS A RESULT OF THE ONGOING PANDEMIC, many children have had to battle with changes and disruptions to their everyday lives. They’ve had to adapt to wearing masks and not being able to see and socialise with their friends. In addition, school attendance has been turned upside down due to closures in an effort to prevent the spread of the virus. This has caused some children to experience serious mental health issues.
The frightening stats According to a 2020 World Health Organization (WHO) report on adolescent mental health, mental health conditions account for 16% of the global burden of disease and injury in people aged 10-19 years. In South Africa, the stats are even grimmer, with 9.5% of all teen deaths a result of suicide. Some have also been left orphaned by the virus, adding to the devastating changes that have impacted children. A July 2021 article* published in The Lancet revealed that 82 406 children in South Africa lost at least one parent or guardian to COVID-19 between March 2020 and April 2021. “The loss or separation from a primary caregiver has a profound impact on a child’s mental health in terms of loss of attachment figures, a safe base from which to explore the world, and heightened anxiety about the future,” says Dr Patti Silbert, project manager of the Schools Improvement Initiative in the Schools Development Unit at the University of Cape Town. “The
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consequences of not addressing adolescent mental health conditions extend to adulthood, impairing both physical and mental health, and limiting opportunities to lead fulfilling lives as adults,” reports WHO.
Spot the warning signs According to UNICEF, signs of psychological distress needing specialised help include: + Difficulties in sleeping and eating + Nightmares + Being withdrawn or aggressive
Mental health conditions account for 16% of the global burden of disease and injury in people aged 10-19 years. + Complaining of a stomach pain or headache without physical reason + Having fears, being afraid to be left alone + Clinging, dependent behaviours + Manifestation of new fears (for instance, of the dark) + Decreased interest in playing and engaging in playful activities + Being sad, crying more than usual, or for no apparent reason.
REACH OUT USING YOUR BENEFIT You have free access to Trauma, Assault & HIV Assist as one of your benefits. Get 24-hour counselling telephonically by calling 0860 00 7325.
Summer 2021/2022
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ADOLESCENT WELLBEING
Family physician Dr Sheri Fanaroff warns parents in her article ‘Mental health tips for children during the COVID-19 pandemic’ on South Africa’s COVID-19 online resource portal to look out for red flags in kids and teens such as suicide ideation (talking about suicide or
“Be open and provide ageappropriate information about the virus,” says Dr Fanaroff. Listen to what they are feeling. Let them know it’s okay if they feel overwhelmed and anxious, and validate their feelings with clear and simple messages, she says.
Respond directly about how you can work together to make the situation more bearable, and reassure your child that they are safe. death), self-harm, violently acting out, delusions (firmly held false beliefs) and altered functioning (not managing at school or with daily activities).
How to offer support Dr Silbert says that during this time, more than ever, children need a nurturing environment; one where they will be able to express their fears and vulnerabilities without the fear of any shame or stigma. “We need to find ways to support children and adolescents as they face trauma and loss as a result of the pandemic by developing their resilience and coping mechanisms, and by involving teachers, parents and family,” says Silbert. “Building a network of connections helps children understand that their biopsychosocial experiences and challenges matter, and that ultimately, this is crucial in discovering themselves and understanding how to develop healthy relationships with others.”
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Summer 2021/2022
may misinterpret what they hear, and be frightened about things they don’t fully understand. + Be a role model for your child – take breaks yourself and connect with friends and family. + Spend time with your child, engaging in meaningful activities – reading together, exercising, playing board games. + Loosen restrictions on social media within reason; it is important for them to be able to connect with their peers. Be flexible with schedules and change them if they are creating anxiety.
Practise empathy rather than scolding. Respond directly about how you can work together to make the situation more bearable, and reassure your child that they are safe. “Share with them how you deal with your own stress so that they can learn from you how to cope. And if you feel you need some extra help, ask your GP or healthcare provider; your child may also benefit from referral to a child psychologist or a play therapist.”
Source: *Global minimum estimates of children affected by COVID-19-associated orphanhood and deaths of caregivers: a modelling study, The Lancet, volume 398, issue 10298, p391-402, July 31 2021. Illustrations: Shutterstock
health
HEALTHY HABITS Dr Fanaroff suggests adopting these practices to protect children’s mental wellbeing: + Get enough sleep + Eat healthy meals + Exercise regularly + Keep a consistent schedule with predictable wake-up times and bedtimes + Make realistic schedules for completing work, with enough time for breaks and relaxation + Limit your family’s exposure to news coverage of the pandemic, including social media. Children
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Claim your free movie experience! To kick-start your summer, we’re rewarding you with free Nu Metro movie tickets and refreshment combos.
FROM 1 NOV 2021 TO 31 JAN 2022
Claim four free Nu Metro movie tickets and refreshment combos!
Keep an eye on your inbox for communication. Includes 4 x 2D movie tickets and 4 x refreshment combos. T&Cs apply; while stocks last.
health
VARIANTS
WHAT EXACTLY IS A
variant? How do virus variants arise? And what can we do to protect ourselves from them? Experts explain the science behind the headlines.
GET FREE MEDICAL ASSISTANCE You have free access to 24-hour medical assistance and counselling telephonically by calling 0860 00 7325.
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Summer 2021/2022
THERE HAVE BEEN MANY ALARMING REPORTS about new variants of the novel coronavirus, SARS-CoV-2, which causes COVID-19. One of the variants, called Beta, was even discovered in our own backyard, in the Eastern Cape, in October 2020. But how and why do they occur? Viruses are tiny molecular machines that invade other organisms’ cells, which they hijack to make copies of themselves. The copies then go on to infect other cells. This overwhelms your immune system and makes you feel ill. But every time a virus creates a copy of itself, that copy will be different in microscopic ways to its ‘parent’. sanlamreality.co.za
HOW A VARIANT WORKS
These tiny ‘errors’ in the genetic sequence of a virus, known as mutations, occur naturally and randomly. Most of the time they don’t affect the behaviour of the offspring virus. However, sometimes changes give the offspring an advantage over the parent virus. Here, the location of the
call them ‘variants of concern’. These may spread faster, cause more severe illness, or be better at evading immune defences than earlier versions of the virus, says Dr Marion Morkel, Chief Medical Officer at Sanlam. Variants can arise anywhere, Dr Morkel says, but the likelihood that they
Text: Linda Nordling; Photography: Shutterstock
Variants don’t always cause problems. But when they do, scientists call them ‘variants of concern’. mutation matters, says Dr Mankgopo Kgatle, a medical virologist and Head of Basic and Translational Research at the Nuclear Medicine Research Infrastructure in Pretoria. “With SARS-CoV-2, we have seen mutations to the spike protein – that’s the ‘key’ on the virus that allows the viral particles to enter our cells – which have made the virus more transmissible,” she says. That means it spreads more rapidly, resulting in more waves of infection and sickness, and more hospitalisations and deaths. Variants don’t always cause problems. But when they do, scientists sanlamreality.co.za
do can increase under certain conditions. For example, when the host stays infected for a long time, unable to clear the infection, that gives the virus a chance to multiply – and mutate – many times. This has the potential to create a virus variant with superpowers. So how can we stop dangerous new variants from arising? The best way to do that is to slow the spread of the virus, says Dr Kgatle. Vaccines are an important part of that, she explains. But so are people continuing to wash their hands, wear masks and avoid crowded areas, regardless of whether they have been vaccinated or not, says Kgatle.
1. When SARS-CoV-2 viruses enter our body, they hijack our cell machinery to make millions of copies of themselves.
3. These mutations arise by accident, and most don’t affect the virus.
5. When the virus copies spread to other cells, and then to other people, mutations make them more successful at spreading.
7. The only way to stop new variants forming is to stop the virus from spreading and making more copies of itself.
2. These copies are never identical to their parents, but develop random errors in their genetic code known as mutations.
4. However, sometimes mutations happen that make the new virus ‘better’ at infecting us.
6. They can even cause new waves of infection, as was seen with the Beta variant found in the Eastern Cape.
8. Vaccines can help with this, but so can handwashing, mask-wearing, and avoiding crowds.
Summer 2021/2022
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club
GET REAL
UNLOCK THESE SAVINGS WITH YOUR PA BENEFIT! Members like you are saving big with their free benefit.
These are all the benefits and discounts available for you to enjoy.
R562 878
The average savings negotiated for our members from March to June 2021.
OUTDOOR LEISURE
OTHER b Sou nt ista rce: P ersonal Ass
12%
it ef en
da t
aJ un e
Your own personal assistant is on call 24/7 to negotiate better rates on everything from tyres to furniture. Use it on the go in the free Sanlam Reality App.
BOOKS 2021
6%
R6 500
R41 084
Total saving on appliances
DEALS FOR YOUR WHEELS
R670 599
Total saving on car purchases
R1 516
Total saving on spares
R21 499
Total saving on furniture
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Summer 2021/2022
Easy tax returns with TaxTim
Wealth Sense
Online financial assistance
Day-to-Day savings Discount Coupons
R8 604
Total saving on tyres
R14 560
Total saving on parts
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
Entertainment
Showmax
Between May and June 2021, these are the total savings we negotiated for members like you through your PA benefit:
Total saving on cellphones
TaxTim
Nu Metro movies and refreshments
ENTERTAINMENT
HAPPY WALLET, HAPPY HOME
OFFER
Wealth
YOUR PA IS WAITING!
29%
53%
BENEFIT
R30 for a 2D ticket, R35 for a refreshment combo (10/month) Three months’ entertainment streaming per year on us
Personal services Personal Assistant
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.
Photography: Shutterstock. Pricing correct at time of print.
Your PA benefit has helped fellow members with a whole range of questions:
Make the most of your Reality Club membership
Turn your to-do into done
Save time and money with access to a free PA service 24/7, 365 days a year. • Make and share your to-do list with your PA. • Let your PA make bookings for movies, shows and more. • Get quotes from your PA within 48 hours.
Use in your Sanlam Reality App
Visit www.sanlamreality.co.za/benefit/personal-assistant or call 0860 007 325. T&Cs apply.
KINGJAMES 53261
In life there are many goodbyes. Some small, some big. That’s why we pay most funeral claims in 4 hours. When the time comes for the final farewell, a Sanlam Funeral Plan will help you feel confident that you’ve made the right choice for you and your family.
Terms and conditions apply. Excludes Sanlam Employee Benefits Funeral Insurance.
Sanlam Developing Markets is a Licensed Life Insurer and an Authorised Financial Services Provider.
