Summer 2020/2021
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How to save & invest in uncertain times
THE ULTIMATE MONEY GUIDE
HAD COVID-19? Here’s what you need to know
Bonnie
mother, maven, megastar
You need to have these
MONEY CONVERSATIONS WITH FAMILY
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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 financial lives possible. All because Sanlam Reality believes that taking care of your money should be rewarding.
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On the cover 4
Turn to p.21
BONNIE MBULI
“Lockdown made me realise how resilient I am”
12 MONEY TIPS FOR UNCERTAIN TIMES
The ultimate guide
16 FAMILY MONEY TALK
The conversations you need to have
18 HAD COVID-19?
What you need to know
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, Theesan Moodley, Jean Lombard Deputy company secretary Zuko Mgawuli
Also inside
PUBLISHED BY NARRATIVE FOR SANLAM REALITY
4 LIFE 8 GENDER-BASED VIOLENCE
Practical ways to act now
10 ENTERTAINMENT 11 QUIZ How disaster-proof are your finances?
EDITORIAL Editor Jaime Waddington Content editor Dominique Bowen Email mag@sanlamreality.co.za Contributors Sanelisiwe Maliza, Angelique Ruzicka, Cebokazi Sotobe, Helen Wallace
12 MONEY 15 MONEY QS 101
PRODUCTION Head of production Nicky Scheepers Campaign manager Kelly Hendricks
CREATIVE Creative group head Juan Geel Art director Marisa Steyn
Your pressing money Qs – answered
18 HEALTH 22 LONELINESS How to deal
24 CLUB 24 YOUR MEMBERSHIP
NARRATIVE Managing director Robyn Campbell Business lead Lauren Brabant Chief content officer Sarah Browning-de Villiers Account manager Roxanne Lopez-Maggott 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.
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A division of Novus Holdings
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Contents
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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.
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ON THE COVER: Photographer: Niquita Bento; creative director: Juan Geel; hair: Kevin Epstein; make-up: Sive Ngcelwane; stylist: Cleo Marcopoulos; producer: Nicky Scheepers; BONNIE WEARS: Blazer, FabroSanz; necklace and earrings, Matter Of Fakt
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life
COVER STORY
Bonnie Mbuli: mother,
maven, megastar The multitalented Bonnie Mbuli talks money, mothering, mental health and more with JAIME WADDINGTON.
EARLY MORNINGS AND LONG DAYS ARE NOTHING new for Bonnie Mbuli, who has been in the industry since the age of 13. She was first discovered at a bus stop on her way home from school by an agent who cast her in the television series Viva Families in 1992. Since then, her career has gone from strength to strength. Following three successful years with local TV show Afternoon Express, Bonnie returned last year to her first love – acting – playing Jasmine Hadley in the acclaimed BBC drama series Noughts + Crosses. She’s learnt important lessons from her years of stardom... lessons in mental health, money and the madness of fame. She shares some of her tips and tricks with you, here.
BONNIE WEARS, LEFT PAGE: Dress, Imprint; earrings, Lorne; RIGHT PAGE: Jacket, Imprint; earrings, Lorne
“There is power in vulnerability” “I remember being on set at the age of 13 and the director asking me to do things I just didn’t understand. It was an adult world. It made me grow up very quickly. “When I was young, I had this weird love-hate relationship with acting. I was afraid to ‘own it’ in case it disappointed me; in case I didn’t become a success. For many years, I was in self-protection mode: my heart, my opinions, everything. I was closed off from the world and it was lonely. “One day, I was on the set of Backstage and had to act out a rape scene. I thought, ‘Either I’m going to give myself completely to this scene or not do it at all. If you’re going to do it halfheartedly, then you shouldn’t be doing this.’ So I went for it and cried after the scene. I opened up in a way I’d never opened up before. It taught me the power of being vulnerable.”
Trying to make it in a city where no one knows you was really humbling. And believe me, LA will magnify whatever you are or what you’re feeling.
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“I was on stage, yet I’d been hiding my depression” “I wanted to act but I didn’t want the fame. Fame has always felt like something everyone fails at. Who really knows how to do fame well? But as they say, ‘What you resist persists.’
“I did really well here and then went to Los Angeles (LA), hustling and trying to get my career off the ground there. Trying to make it in a city where no one knows you was really humbling. And believe me, LA will magnify whatever you are or what you’re feeling. I went Summer 2020/2021
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COVER STORY empowered by investing, budgeting and saving.”
“With every cent my kids spend, I want them to be aware of their actions. That’s what budgeting is. It’s being honest about your finances. We spend so much time earning money but not as much time being present when spending it. I say to my kids, ‘If you want to go on a shopping spree, do it, but acknowledge that decision. Own it.’ “I also want how they spend their money to align with who they are. My money coach told me to list the five most important things in my life. She said, ‘Look at your bank account and see if what you are spending your money on is in accordance with those five things. If not, something needs to change.’ It’s always stuck with me.” ”
“Always check your bank statements” “This is the biggest money lesson I’ve learnt. Pour yourself a cup of tea and go through every item on your bank statements. It’s nerve-racking and confronting, but you then see all the junk you’ve spent money on and may even spot a debit order you didn’t know about.
through a deep depression there. That’s when I decided to write my autobiography (Eyebags and Dimples). It helped me heal and allowed me to introduce myself to the world. I was on stage, yet I’d been hiding my depression.”
“I take my relationship with money seriously” “When you start earning money from a young age, your money mindset shifts. You have to be mentally and emotionally prepared to have money, especially when you didn’t have it growing up.
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With every cent my kids spend, I want them to be aware of their actions. “My mom knew how to budget. She could always make her money stretch. When I was a kid, she would make me and my siblings attend budget meetings. When I became a parent, I thought: ‘What do I want to teach my kids about money?’ I realised then how much my mom taught me and all those lessons came back. “I take my relationship with money very seriously and am no longer intimidated but
“Life can get so busy that we can often create an avoidance relationship with money, and neglect our finances. It’s important to know what’s coming in and going out every month. And if you don’t know what you’re doing, ask for help. You need to make money work for you. If we all want money so badly, why are we so afraid to look at it?” sanlamreality.co.za
Photographer: Niquita Bento; creative director: Juan Geel; hair: Kevin Epstein; make-up: Sive Ngcelwane; stylist: Cleo Marcopoulos; producer: Nicky Scheepers; BONNIE WEARS, LEFT PAGE: Scarf, stylist’s own; matching suit, Imprint; swimsuit, BeachCult; earrings, Lorne; RIGHT PAGE: Dress, Kat van Duinen; earrings, Lorne; sneakers, Aldo; cuff, Lovisa
“Budgeting is about financial honesty”
“Lockdown made me realise how resilient I am” “I’ve had to make so many adjustments since lockdown, psychologically, that I don’t recognise myself. The things I value are now different. It’s made me treasure the things I love and care less about the things that don’t serve me. “I’ve had to be strong for my boys and keep them positive, while also trying to keep positive myself. “I think this time has made us all think about who we are, what we’ve ignored and who we want to become. Slowing down has allowed us to face ourselves.”
“If you run out of oxygen yourself, you can’t help anyone else” “I wake up, meditate, exercise and then I write in my journal. That’s been my routine every day since the start of lockdown. It’s been the most self-loving thing I could have done for myself. We need to take care of ourselves, especially women. Women need to put themselves first, without feeling guilty. The airplane message, ‘In case of an emergency, put your oxygen mask on first’ is a life lesson. If you run out of oxygen yourself, you can’t help anyone else.”
“What’s next for me? Business!” “I’m starting a business that has been four years in the making. I can’t reveal too much about it yet but I can reveal it’s in the wellbeing industry (watch this space!). I’m also finishing my second book. It’s about religion, marriage and patriarchy. “I’m also working on Weave, an online community for women to support each other. And, of course, acting – it’s the love of my life. I’ll never stop acting.”
life
GENDER-BASED VIOLENCE
The time for talking about GBV is over
Gender-based violence (GBV) has cast a dark shadow over South Africa for far too long. We have discussed it, debated it and protested it. The time for talk is over. We need to act, now. By CEBOKAZI SOTOBE
WE’VE HEARD THE NUMBERS and the harrowing stories. According to the UN, gender-based violence is violence that results in the physical, sexual or psychological harm or suffering of women. Regardless of where you stand in the social, economic and political divide, each of us recognises that we are confronting a crisis of violence in South Africa (SA). SaferSpaces, an online knowledge hub for community safety in SA, shares that between 25% and 40% of SA women have experienced sexual and/or physical intimate partner violence (IPV) in their lifetime. While many of us have grown up believing that a rapist or murderer is a stranger, this is not necessarily the case. Intimate partner violence, sometimes called
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Summer 2020/2021
‘domestic violence’, is abuse that occurs in a close relationship, and it refers to both current and former spouses and dating partners. IPV is a serious and widespread problem in our country. According to 2020 statistics, a woman is killed every three hours in SA – by an intimate partner in 51% of cases. Shockingly, an anonymous survey conducted in
GET HELP FOR FREE, 24/7 You have free access to Trauma, Assault & HIV Assist as one of your benefits. Get 24-hour counselling telephonically by calling 0860 00 7325.
2016 in Diepsloot – a densely populated township north of Jo’burg – found that 38% of men (two in five) admitted to having forced a woman into have sex with them.
We need to educate our youth Research has shown that GBV is not caused by any single thing. “Gender-based violence defies economic, criminological and geographical logic, and it is oblivious to race and social status, and seems to know no bounds,” says Tinyiko Maluleke, a professor of theology at the University of Pretoria. While our background can shape who we are as people, education is at the forefront of breaking the chain of violence sanlamreality.co.za
and brutality against women. Cheryl Tshabangu of the Pink Ladies Organisation for Missing Children says that it’s important that education about violence and GBV starts young. “It’s high time we taught a boy child what it means to respect a woman,” says Tshabangu. The first step for parents and adults to do this is to educate themselves about GBV and how it impacts individuals, families and communities. There are plenty of resources online, including SaferSpaces. Some tips include encouraging children to feel comfortable coming to you with any question or issue, encouraging and rewarding kids when they display positive, non-violent and non-sexist behaviour and establishing boundaries for children about what is or is not acceptable. Most important is to be a role model yourself. Children are extremely impressionable. Be sure to check your own behaviour when you’re around them.
Illustration: pikisupersta/Freepik
Men need to lead the fight against GBV “Violence against women is not a problem of women, it is a problem of men,” said President Cyril Ramaphosa when addressing Parliament at the end of 2019. Global statistics show that men are overwhelmingly the perpetrators of GBV. The need for men’s voices and active participation in putting an sanlamreality.co.za
end to gender-based violence is needed now more than ever. Dr Nthabiseng Moleko, Deputy Chairperson of the Commission for Gender Equality (CGE), says that men need to be the drivers of change. “If they change the status quo... we would see a changed society.” How can men do this? Stop being silent and start speaking out about GBV to other men. It’s easy to turn a blind eye, but choosing to ignore it can cause harm. Call out ‘locker room talk’ (talking in a way that degrades women and their bodies, or making jokes about serious issues like rape and sex). Listen to women’s experiences to grow your empathy and understanding. Treat the women around you equally; request consent and remind your peers that no one is ‘entitled’ to sex or physical affection from others.
How to report GBV If you are aware of GBV happening to someone you know, you can report cases of rape, sexual assault or any form of violence to a local police station or call the toll-free Crime Stop number: 086 00 10111. You can also contact the 24-hour GBV Command Council Centre toll-free number on 0800 428 428; Sonke Gender Justice on 0800 333 059; the Department of Social Development on 0800 428 428; or POWA on 083 765 1235. If you feel that the local police you reported to aren’t taking you seriously, email the MP in your area to complain, or contact one of the private
numbers (provided previously) to seek help. Men are also encouraged to join movement to end GBV and sign government’s pledge to end violence against women and children at gov.za/GBV. “Let’s ensure that we believe the victim because there are many reasons they don’t come out immediately,” says Dr Moleko. We need to work together to create a society where we all feel safe. The time for action is now.
WHAT TO DO IF YOU’RE A VICTIM OF GBV + Have emergency helpline numbers or numbers of organisations at hand (we’ve listed some for you). Save these to your phone or write them down and keep them with you at all times. + Tell a family member or friend what is happening and then create a signal or code word for when you need help. + Seek shelter if you manage to escape your abusive situation. Visit the National Shelter Movement of South Africa on nsmsa.org.za/ shelter-directory/ to find a shelter in your province. + Have a money escape plan. Try and put aside money every month into a private savings fund in case you need it in the future, so you aren’t financially controlled by your partner.
Summer 2020/2021
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ENTERTAINMENT
It’s movie time! Get R30 movie tickets at Nu Metro, just for being a Sanlam Reality member.
1 / NO TIME TO DIE Just when Bond thought he could hang up his gun to enjoy life in the tropics, an old CIA friend asks for his help. The mission? To rescue a kidnapped scientist, but not before being taken on an arduous adventure in pursuit of a villain armed with dangerous technology. Coming soon in 2021
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2 / RUMBLE It comes with the tagline ‘The biggest underdog story ever’, but this family romp is bound to also tug at the heartstrings and have you doubling over in stitches. Follow Winnie, an aspiring monsterwrestling manager, as she trains an inexperienced monster to be a world champ contender. Release date: 29 January 2021
WHAT’S YOUR MOVE? A COLLECTION OF ORDINARY FINANCIAL LESSONS BY NICOLETTE MASHILE Sometimes the best way to learn is from other people’s mistakes, and this is exactly what founder of financial education platform Financial Bunny Nicolette Mashile aims to achieve with her debut title. “I hope people will feel empowered to take matters into their own hands and make moves that are educated and lead to their financial wellbeing,” says Mashile. The collection covers everything from buying property to managing money in romantic relationships, with tools and explainers sprinkled throughout to empower you. RRP R280
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3 / ETERNALS Angelina Jolie, Salma Hayek and Richard Madden are a few of the big names who bring this Marvel instalment to life. Watch as their characters reunite after living CLAIM YOUR in secret to FREE MOVIE TICKETS! tackle man’s We’re rewarding members most ancient with free Nu Metro tickets enemy, the until 28 Feb 2021. Keep an eye Deviants. on your inbox to learn more. Coming soon T&Cs apply; in 2021 while stocks last. sanlamreality.co.za
Text: Dominique Bowen; Photography: Freepik, supplied. Pricing correct at time of print.
WATCH THESE FOR ONLY R30!
QUIZ
life
How disasterproof are your finances? As COVID-19 has shown, disaster can strike at any time – but are your finances able to withstand the shock of life’s surprises? Find out. 1. To me, being financially prepared for almost anything means…
4. Eish! You got into a fender bender. Who’s covering the damages?
A Having a rainy-day fund. B … I haven’t figured that out for
A My poor credit card – ouch! B No one – I’m going to have to take out
my own needs yet. C Having emergency savings and risk cover, like a funeral or illness policy, in place.
a loan or borrow from friends or family. C My car insurance policy will take care of that.
2. When last did you review your risk cover needs? A A couple of years ago. B Um... I don’t know what risk cover
is, and I’ve never thought about it. C A couple of months ago; I make a point of it each year.
3. What would happen to your family if you lost your ability to work tomorrow? A I have enough savings to carry
Text: Dominique Bowen; Illustration: Freepik
us for a few months – but that’s it. B That’s a thought I try not to linger on. C Thankfully, my income protection would kick in.
5. What risk policies do you have in place? A I think there’s some life cover from
my employer, but I’m not too sure. B None – that’s a luxury. C I get benefits through my employer, plus I’ve taken out some extra policies myself, like my funeral policy.
6. If you lost your job, how much debt would you have to manage? A I’ve got some credit card debt and a loan; it would be tough, but I can scrape by with repayments. B I’d be screwed – I’d have to miss some repayments. C I’ve got insurance on my credit card debt, but I also have enough saved to cover some repayments in an emergency.
Answers*: MOSTLY As: Your finances won’t hold up as well as they could. Meet with your financial planner to find out where you can improve your financial resilience if disaster hits.
MOSTLY Bs: You may think savings and risk cover are a luxury, but this is mistake – and you’ll be in trouble if disaster strikes. Try to put aside some money every month, no matter how little you earn.
MOSTLY Cs: Keep it up! “Disaster-proofing your finances depends on your money-management skills, so look to enhance that skill set,” says Jyoti Gopee, a financial planner at Pinnacle BlueStar.
*This quiz is not intended to replace the advice of an expert, a professional financial planner or a debt counsellor.
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WAYS TO 3FINANCIALLY BE MORE RESILIENT + ASSESS
YOUR NEEDS A financial planner is best positioned to help you assess your needs and formulate a financial plan, so you’re prepared for unforeseen life events. Call 086 123 5433.
+ MAKE SAVING A HABIT Pay bills to your future self by putting away money as soon as you receive your income each month. This free calculator will help you decide how much: sanlamreality.co.za/wealthsense/savings-calculator/.
+ BE A KEEN LEARNER “Obtain some reading material on how to manage your money,” suggests Gopee. Visiting sanlamreality.co.za/wealthsense is a good place to start. Summer 2020/2021
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money
SAVING IN UNCERTAIN TIMES
4
Tips for saving and investing in uncertain times
The world is in flux thanks to the COVID-19 pandemic and our local economic challenges. The virus has not only had an impact on people’s health, but on their jobs and livelihoods too. Here are four financial tips to point you in the right direction.
SPEAK TO AN EXPERT Get personalised advice on how best to set up your will, trust and estate by speaking to an expert financial planner. Call 086 123 5433.
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Summer 2020/2021
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DON’T NEGLECT YOUR SAVINGS
With so much uncertainty, you’d be forgiven for not wanting to save further or even start a savings fund at all for fear of losing the money. But while this may be a scary prospect, it would be a big mistake not to. If you don’t contribute savings to an account, you’ll likely lose out on the effect of compound interest. Even putting away as little as R350 a month (or R90 a week) can help you to take advantage of the compounding effect. Kenosi Magosha, head of client solutions savings at Sanlam, explains: “When you start saving, most of what you get out is what you put in. But as time goes on, you get interest on what you save. The interest you get goes on to earn interest too, if you keep it invested. Then the growth starts compounding on itself. So later, most of your money’s growth is down to the fact that you’ve sanlamreality.co.za
managed to grow money on top of what you put in.” Compound interest is money you earn just for remaining invested and reinvesting the growth on the money saved. It’s a neat reward for committing to stay the course over time.
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FREE TOOLS TO HELP YOU SAVE Go to sanlamreality.co.za to access helpful content to navigate budgeting and goal setting, free savings tools and free savings and retirement calculators through the Wealth Sense portal.
CREATE SHORT-, MEDIUMAND LONG-TERM GOALS
Having savings goals and dedicated savings pots is important because you have life goals with different time horizons and it’s important that those things that are important later in life are not neglected in favour of immediate or shorter-term needs. Recent events have shown that you never know when you will need funds to help you out in tough times without sacrificing on your longer-term goals. Over your lifetime you will need to save for various milestones. But the unexpected could happen, too. It’s vital to have savings dedicated for the short, medium and long term to keep a balance with your finances. Magosha explains: “Short-term goals are things you need to set aside for so you can
A good savings or investment approach also looks at ways to limit losses.
COMPOUND INTEREST, EXPLAINED Thulani INVESTS R10 000 PER MONTH FOR 10 YEARS
10%
GROWTH RATE
R1 200 000
TOTAL AMOUNT THULANI CONTRIBUTES
R814 576 COMPOUND INTEREST
R2 014 576 FUTURE VALUE IN 10 YEARS
sanlamreality.co.za
smooth out the larger-than-usual expenses. For example, servicing your car can cost a lot of money and you need to do that once a year.” Medium-term saving should be dedicated to things that could happen a few years away, like a deposit on your first house. Magosha adds: “Long-term goals are things that are far away, like retirement. But it’s important to save for them now so you can benefit from compound interest.” Each savings goal needs its own savings pot. This enables you to have a better sense of control and know how you are doing on the progress of your different goals.
Zipho INVESTS R300 PER MONTH OVER 55 YEARS
10%
GROWTH RATE
R198 000
TOTAL AMOUNT ZIPHO CONTRIBUTES
R6 933 505 COMPOUND INTEREST
R7 131 506 FUTURE VALUE IN 55 YEARS
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UNDERSTAND THE IMPORTANCE OF DIVERSIFICATION
A good savings or investment approach also looks at ways to limit losses. Diversifying your investments is one way to protect your money from the ups and downs of the markets or from losing money from investing in a single company. Diversification as part of your investment strategy basically says ‘don’t just pick shares or bonds from one company, but look at a number of companies that operate in different sectors, industries, or parts of the world’. Typical investment funds offered for people to invest in apply this principle and help manage how best to diversify your savings even when you start out. You’re effectively ensuring that you’re not putting ‘all your eggs in one basket’. Magosha explains: “No one knows what the future holds. Something may look good today, but you don’t know what will happen five years down the line. You could invest in one sector, and if that’s negatively affected, then all your savings are negatively impacted. Spreading Summer 2020/2021
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SAVING IN UNCERTAIN TIMES
THE 5 BIGGEST SAVING MISTAKES SOUTH AFRICANS ARE MAKING 1 Not saving enough and early enough The 2018 Sanlam Benchmark™ report revealed that people start saving too late. South Africans also don’t save enough for retirement. According to the National Treasury, only 6% of South Africans can afford to retire comfortably. 2 Cashing in pensions when switching jobs “Every time you make a withdrawal you will need to work a lot harder in the future to catch up,” says Magosha. In addition, you lose the benefit of compound interest.
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So it is very important to get financial advice in these life transitions. 3 Not taking out enough insurance According to a 2019 ASISA study, the average South African earner under 40 has an insurance gap of around R1.4 million for life cover and R1.5 million for disability cover. This can result in not having enough money for your goals that could have been covered by insurance. 4 Avoiding investing in markets For example, investing in the market vs putting
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money in a low-interestbearing cash account. If you are investing for as long as 18 years (say, for your child’s tertiary education) you can afford to take some risk and invest some money in equity (stocks and shares) to benefit from higher investment returns. 5 Taking on too much debt The 2014 World Bank Global Findex showed that South Africans are the world’s biggest borrowers. As a nation, we’re also around three months behind our debt repayments. Borrowing is basically taking away from future income and your ability to progress in wealth or financial wellbeing.
your money across different sectors, asset classes and companies can help protect you from losing all your money in one place. It minimises what will happen if things go wrong.” Your financial planner knows how to invest in a way that offers diversification, based on your needs and goals.
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TAKE ADVANTAGE OF TAX BREAKS
Saving will not only help you achieve your financial goals, but it will also save you money when it comes to the taxman. You can take advantage of growing your money without paying tax on the growth, but also get tax deductions. You can save on tax simply by investing in a retirement annuity (RA) or putting money into a Tax-Free Savings Account (TFSA). Putting money aside during these uncertain times can be scary, but there are too many advantages that you’ll miss out on by not saving at all, including saving on tax and earning compound interest. You don’t need a lot of money to start saving. If you’re not sure where to start, speak to a financial planner on how you can start small and save big. sanlamreality.co.za
Text: Angelique Ruzicka; Photography: Shutterstock, macrovector /Freepik
money
MONEY 101
What should I do if…?
money
All your pressing money Qs – answered!
Text: Dominique Bowen; Illustration: Freepik
... UIF/TERS isn’t paying out? What’s the difference? The Unemployment Insurance Fund (UIF) is a standard unemployment benefit that unemployed workseekers can apply for within six months of termination of employment, as long as their previous employer registered them and contributed towards the fund. “Any employee who has been dismissed, including retrenchment, and who has contributed to the UIF, can claim unemployment benefits,” says labour law consultant Neels van Rooyen. The Temporary EmployerEmployee Relief Scheme (TERS) is a benefit offered by the UIF strictly related to the COVID-19 lockdown. “It is a relatively small portion of a salary/wage, calculated on a sliding scale with a minimum guaranteed benefit of R3 500,” says van Rooyen. The cut-off for applications was in October. TRY THIS: Log into uFiling.co.za to check your employee declaration status. If you weren’t registered, you aren’t eligible for UIF payments. If you were registered, make sure
the UIF has all your correct contact and banking information so payment can be made.
… SARS owes me money? TRY THIS: “SARS will not pay out refunds if you have any outstanding returns,” says Jaco Nel, director of NJN Auditing & Consulting. Check that all your returns to date have been processed, and verify your banking details by visiting a SARS branch with your ID and proof of banking details. If you don’t have any outstanding returns and believe SARS owes you a refund, you can lodge a complaint with the tax ombudsman at taxombud.gov.za.
... SARS wants to do an audit? TRY THIS: You’ll know whether you’re up for audit if there’s a ‘Yes’ next to ‘Selected for audit or verification’ on your tax return. Wait for SARS to send you a follow-up
ACCESS A CREDIT COACH – FOR FREE Understand your credit profile and speak to a credit coach with Sanlam Credit Solutions. Visit sanlamcreditsolutions.co.za to register.
sanlamreality.co.za
WHAT IS A SARS AUTO-ASSESSMENT? In August, SARS may have issued you an automatic assessment via SMS – but think twice before accepting it. “There’s a chance that SARS does not receive all third-party data (or the most up-to-date tax certificates) and so your assessment may be inaccurate, and you may even end up overpaying tax,” cautions Nicci Courtney-Clarke, Head of Tax at TaxTim. You can opt out of the assessment and follow your usual eFiling process instead.
letter requesting supporting documents, says Nel.
... I’m struggling with creditors? TRY THIS: “Speak to your financial planner to ensure that all avenues for reducing your existing expenses have been explored,” suggests Jyoti Gopee, a financial planner at Pinnacle BlueStar. It’s also worth calling creditors to negotiate repayments rather than simply defaulting. You can access free credit help and talk to a free credit coach if you register for Sanlam Credit Solutions (sanlamcreditsolutions.co.za). Summer 2020/2021
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money
FAMILY MONEY CONVERSATIONS
MONEY CONVERSATIONS to have with family this holiday season
As 2020 draws to a close (what a year!) and we hopefully head home to family for the holidays, you’ve got a perfect opportunity to reassess not just your year and plans for 2021, but your family finances, too. Here’s how to do it. By SANELISIWE MALIZA
WHILE SOME MAY THINK THAT TALKING ABOUT MONEY IS TABOO, experts encourage us to have more money talks with our families. Not only can it be beneficial to have conversations about income, savings and financial planning with your parents, partner and family members, but talking about money can help empower your family to grasp their financial standing, understand what they can contribute to the household, and what to plan for in an emergency, such as a death or a family member becoming ill.
SPEAK TO A FINANCIAL PLANNER Get personalised advice on how best to set up your will, trust and estate by speaking to an expert financial planner. Call 086 123 5433.
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4 1
IMPORTANT CONVERSATIONS TO HAVE THIS HOLIDAY SEASON
Will your family be looked after if you pass away?
While many people think of planning for tragic events as focusing on managing risk by getting medical aid or a funeral policy (all very important!), there is also a bit more to it. If your family would like to live comfortably in the future, a lot of thought needs to go into saving should you pass away. “You need to protect and create your wealth. Protect yourself and your family by making sure that you have the appropriate solutions for life-changing events,” says Lineo BlueStar financial planner Sechaba Bolofo. For example, get life insurance if you don’t already have it. Life cover is particularly important if you are the main income provider, and is essential to support any loved ones you leave behind.
Another way to take care of your family's financial needs is to get out of debt. The last thing you want your loved ones to go through after mourning your loss is harassment from creditors and debt collectors.
Does your family know about your savings and investments?
2
If you have a financial planner, set up a meeting with them to run through the savings and investments that exist for your family. If you don’t, it would be wise to consult one. Financial planners work to understand your family’s needs and then work to plot a financial future that will make sure your family is taken care of. Let your family know where these savings and investments are held, who the beneficiaries are (those who will benefit from the sanlamreality.co.za
NEED FREE LEGAL HELP? You have access to free legal help over the phone, 24/7. Call 0860 732 548/9 or visit sanlamreality.co.za/benefit/legal-assist for more.
policies if something happens to you) and how to access this in case you pass away.
3
What will happen to your children if you pass away?
“The death of a parent could spell disaster in the current and future life of the children and the remaining partner,” says Shadrack Sivhugwana, head of client solutions at Sky Individual Life. It’s essential to
Have you created a will, and does your family know about it?
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If you want to ensure that your family are prepared for when you pass away, you need to create a will. Estate (what you own) planning ensures that your children and family members will be taken care of. Speak to a financial planner about creating your will, and what you should include in it.
update their wills. “You don’t want a situation where people are left with assets that have since been sold off,” she explains. Put together a plan to update wills regularly, and have documented information about any additional life policies and funeral plans to make sure that the whole family is prepared.
THINGS TO 3WHEN CONSIDER TALKING ABOUT MONEY
Be open and honest. Death is a sensitive subject; show kindness. 3 Make sure you document conversations; write down what was discussed and agreed. 1
2
It’s essential to nominate a financially capable and trustworthy guardian for your children, especially if they are minors.
Photography: Shutterstock
nominate a financially capable and trustworthy guardian for your children, especially if they are minors. Without a guardian, the responsibility of your children falls to the surviving parent. Should you both pass, the responsibility falls to the State.
sanlamreality.co.za
Sanlam Personal Finance’s Lee Hancox suggests that as a family, you discuss who has wills, where they are kept and how to access them. To ensure there are no nasty surprises, Hancox suggests that your family members regularly
TIPS FOR 3A FINANCIAL FINDING
PLANNER YOU CAN TRUST 1 Check your financial planner’s experience and credentials. You can check if they’re a member of the Financial Planning Institute of SA at fpi.co.za, or if they are a Certified Financial Planner at cfp.net. Or phone 086 123 5433 to speak to a Sanlam-approved planner. 2 Your financial planner should communicate to you in a clear, understandable way. If they don’t, ask them to re-explain, or find someone who does. 3 Look for a financial planner who will analyse your overall financial situation, not just sell you one product without checking your broader needs.
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health
LIFE AFTER COVID-19
What you need to know if you’ve had COVID-19 How do you know if your body is fully restored after having contracted COVID-19? Here’s when you can get back to your regular fitness routine, plus lifestyle habits to keep you safe and healthy. SO, YOU WERE UNFORTUNATE ENOUGH TO CONTRACT COVID-19. On the plus side, though, you are feeling much better. Great! But how can you tell if your body has returned to normal, and whether you can resume your regular workout routine?
The first 10 days: why they matter You may feel a whole lot better and have completed your mandatory two weeks of isolation. But
It’s crucial to bear in mind that your body has been through a lot, and that you will need to gradually build up to where you were pre virus. how do you know if your body really is fighting fit again? “This disease is different for each person; there is no ‘one size fits all’ approach,” explains Sanlam’s chief medical sanlamreality.co.za
officer, Dr Marion Morkel. “However, most doctors use a simple 10-plus-three strategy: this looks at the start date of your symptoms, and we then count 10 days. After those first 10 days, we check whether you’ve still got any symptoms for three days without the use of any medication. If you don’t, we’re clinically satisfied that you have recovered.”
When can you go back to exercising? After having COVID-19, you’re probably itching to get back to your regular workout routine. But it’s crucial to bear in mind that your body has been through a lot, and that you will need to gradually build up to where you were pre virus. “Before you start exercising again, you should get the go-ahead from your doctor and wait at least 14 days from the start of your symptoms,” explains Virgin Active personal trainer, Richard
I’VE HAD COVID-19. DOES MY INSURER NEED TO KNOW? “If you have an existing policy, there is no need to tell your insurer. If you are applying for a new policy then yes, we do require you to answer some COVID19-related questions during the application stage,” clarifies Karen Bongers of Sanlam Individual Life. “We have a range of questions, including whether you have tested positive, have had symptoms, whether you’ve been in contact with someone who tested positive and whether you have been advised to self-isolate. As is the case with our other health questions, we need this info to assess the risk of the application.”
Woolrich. So, how should you start? “With short bouts of low-intensity training, like walking or cycling,” he says. “After this, you can start gradually increasing the duration of your sessions, bearing in mind that it can take anywhere from two to four weeks to get back to your regular fitness level.” Summer 2020/2021
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health
LIFE AFTER COVID-19
YOU HAVE FREE MEDICAL HELP Get 24-hour medical assistance and counselling telephonically for free by calling 0860 732 548/9 or visiting sanlamreality.co.za/ benefit/traumaassault-hiv-assist.
And if you experience any COVID-19 symptoms, such as shortness of breath and weakness? No more exercise and back to bed (and the doctor) for you!
A healthy, balanced diet is key to your physical wellbeing. While we should all be eating healthily anyway, if you’re recovering from COVID-19, it’s even more important to pay attention to how you are fuelling your ‘tank’. “A healthy diet should be high in vegetables – aim for six to eight cups of veggies a day – and low in sugar and refined carbohydrates,” recommends nutritional therapist Hannah Kaye. COVID-19 can also cause a ‘cytokine storm’, which is an overreaction of the body’s immune system. In some patients, when
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HOW YOU PREPARE FOOD MATTERS Who knows how many hands have touched the contents of the produce section at the shop before you put them in your grocery basket? This is why it’s important to wash your fruit and vegetables before eating them, so that you can wash any lingering germs down the drain.
+ First, wash your hands before handling your fresh food. This will ensure that you are sanitary and not at risk of contaminating your own food (or food you may be preparing for others). + Hold the produce under warm running
their bodies are trying to fight off a virus, the body can produce too many cytokines (small proteins), which then activate more immune cells, resulting in hyperinflammation, which can be dangerous. To help combat this, incorporating anti-
water to remove as much of the superficial bacteria that may be on it as possible. + Still feeling gritty? Use a clean washingup brush to scrub any residual muck off your fruit and veg to ensure that they are safe for munching.
inflammatory fats into your diet such as olive oil and avocado is a must. “Another way to top up on some much-needed nutrients is by adding herbs and spices, such as inflammation-fighting turmeric, to your meals.”
But what should you be avoiding? Other than ‘empty’ carbs (like white rice and white pasta) and sugar, processed foods and alcohol can also negatively impact your immune system, so it’s best to wait until you are 100% recovered before your next treat. sanlamreality.co.za
Text: Helen Wallace; Photography: Shutterstock, Freepik
What should you be eating?
competition
win 1 of 150 grocery vouchers worth R150 each!
Simply request your monthly discount coupons by 28 February 2021, and you’ll be automatically entered!
HOW TO ENTER
Competition closes 28 February 2021. Terms and conditions apply – for full T&Cs, go to sanlamreality.co.za/terms-and-conditions.
LONELINESS
How to deal with
LONELINESS Loneliness can result from various life events – grieving a loss, living on your own, the festive season, and even retrenchment. How you deal with it is key.
NO TIME IN RECENT HISTORY has proven our need for connectedness more than the COVID-19 lockdown. It also highlighted an aspect of our existence that we often don’t want to acknowledge: loneliness. It’s an experience that can begin to impact our mental and physical health, and in severe cases, increase the risk
of premature mortality, according to a study published in Plos One. In fact, the risk that loneliness poses to health has been compared to that of smoking 15 cigarettes a day, research by Brigham Young University shows. As a country, it’s a problem that needs serious attention, if the doubling of calls fielded by The South African Depression and Anxiety Group (SADAG) in the early stages of lockdown is anything to go by.
LIKE HUNGER, LONELINESS CAN CAUSE ILLNESS “Loneliness is important to talk about in order to identify it as a possible stressor in our lives,” says Linda Da Silva, a Jo’burg clinical psychologist. She adds that while it’s normal to sanlamreality.co.za
Text: Dominique Bowen; Photography: Shutterstock
health
REACH OUT WITH YOUR BENEFIT
The risk that loneliness poses to health has been compared to that of smoking 15 cigarettes a day. Source: Brigham Young University
experience loneliness from time to time, it’s quite a serious problem if chronic (ongoing) and left unaddressed. “We are social beings, and our wellbeing depends on contact and connection with each other,” says Da Silva. “Like hunger, loneliness is a signal to reach out and connect. If we cannot, we are more likely to become ill and distressed.”
HOW LOCKDOWN MADE LONELINESS WORSE Susan Dlamini*, 35, can relate to this. The Capetonian prefers living on her own, but felt overwhelmed when the national lockdown took effect. “I felt alone, with no immediate solution to the problem,” she shares. To add, a new job and lack of opportunities to meet new colleagues got to her. “I’ve been single for most of my life, so I am fine on my own, but it was as if something was triggered in me,” she shares. “I needed someone to comfort me and tell me everything would be okay, and no one was there.” sanlamreality.co.za
This was made worse by seeing other people spending quality time with their families – something that, lockdown aside, many lonely people can relate to.
WHAT YOU CAN DO While reaching out may come naturally to some, combating loneliness can be a challenge. Susan shares how social media was a comfortable outlet for her feelings. “I would post about my feelings, not necessarily to seek sympathy, but more to talk and gain other perspectives,” she says.
You have free access to Trauma, Assault & HIV Assist as one of your benefits. Get 24-hour counselling telephonically by calling 0860 00 7325.
Sharing that she rarely told her own friends about it, she admits that she didn’t want to burden them. Regular nature walks with friends also helped her keep the loneliness at bay. “I needed the fresh air, and the change of scenery. So far this has been good,” she says. Other useful strategies, says Da Silva, include joining a group in learning a new skill, or volunteering your time or skills to help someone or a group in need. *Name has been changed
HOW TO ASK FOR HELP “The best way to ask for help is to just be straight up about it,” says Da Silva. “You are more likely to get through to family and friends if you can be honest about your feelings and experiences.” You may find it uncomfortable to speak to a therapist face to face. In this case, the SADAG helpline (0800 456 789) offers an anonymous space to help you address chronic experiences of loneliness.
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club
GET REAL
MEET THE
MEMBER
Office administrator OCTAVIA MANJATE, 28, lives in Durban and has been a Reality Club member since May 2020.
Make the most of your Reality Club membership These are all the benefits and discounts available for you to enjoy.
“I would recommend Sanlam Reality to my friends and family. I’ve enjoyed the affordable combination of various benefits at a low cost.”
“I am constantly looking to stretch the rand as far as I can” “I enjoy great savings, and the Discount Coupons benefit comes in handy when I buy the featured products.”
“The Personal Assistant benefit is my favourite” “It’s a PA that helps with absolutely everything. I have received so much assistance, including on mundane things like searching for recipes. It saves me time!”
“I was excited to use TaxTim” “I was excited that it came at no cost following the
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Summer 2020/2021
BENEFIT
OFFER
Wealth
SAVE ON MONTHLY GROCERIES Save on groceries with discount coupons that can be redeemed at Shoprite, Checkers and Checkers Hyper stores nationwide. Dial *134*20019# to request grocery coupons.
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
Entertainment Nu Metro movies and refreshments
GET FREE EXPERT TAX HELP Take the sweat out of tax returns with free access to TaxTim, an online tax filing tool. Visit sanlamreality. co.za/benefit/taxtim to learn more.
event of not having claimed for certain expenses last year because I didn’t know I could.”
R30 for a 2D ticket, R35 for a refreshment combo (10/month)
Computicket shows and sport
Buy one ticket, get one free (up to R80)
Reality Club magazine
Three times a year
Personal services Personal Assistant
On call, 24/7, 365 days a year
Dial-A-Teacher
Educational help and call-back service
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.
Interview: Dominique Bowen; Photography: Shutterstock. Pricing correct at time of print.
“Value for everyone”
Hello, big screen. We’ve missed you!
CLAIM YOUR FREE TICKETS THIS SUMMER!
We’re rewarding members with free movie tickets until 28 Feb 2021. T&Cs apply; while stocks last.
R30
2D movie ticket
Get your free tickets. Keep an eye on your inbox for communication. All pricing correct at time of print. All safety measures are in place and partners will follow due protocol.
Use in your Sanlam Reality App
Visit sanlamreality.co.za/benefits/ entertainment. T&Cs apply.
KINGJAMES 51022
Four hours. That’s how fast Sanlam pays most funeral claims. Terms and conditions apply. Excludes Sanlam Employee Benefits Funeral Insurance.
So that you have the time to plan the funeral, the space to grieve, and the support to focus on what really matters: celebrating their memory and the times you spent together. To find out more about Sanlam Funeral Plans, SMS “Funeral” to 37166 for a callback.
Sanlam is a Licensed Financial Services Provider.