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So would it be better for me to keep the money in South Africa or would the interest gains be wiped out by the fact the Rand gets weaker by the year, and therefore would be better for me to transfer the money to the UK? This is opinion based. Generally you are right, the high interest rates in a country is off-set by the currency rates on a long term ...


5

The fact that you're a minor really only factors into who pays the taxes, you or your parents. If you are below the age where you can legally earn money (and therefore pay taxes), then the income will be considered your parent's or guardian's income, and they will be responsible for the taxes. If you are of the age where you are legally allowed to earn your ...


5

I got historical data for GBP/ZAR here, going back to 2000 (you need to register to download it). I then divided the closing price on each day by the average closing price for the whole month. I don't know if it's statistically significant, but there does seem to be a very small effect with higher rates (i.e. more ZAR for 1 GBP) at the end of the month: on ...


4

Use other currencies, if available. I'm not familiar with the banking system in South Africa; if they haven't placed any currency freezes or restrictions, you might want to do this sooner than later. In full crises, like Russian and Ukraine, once the crisis worsened, they started limiting purchases of foreign currencies. PayPal might allow currency swaps (...


2

You can go to any Canada Post office and ask for their money-transfer services (they use a company called Money-gram). You can see more details here: http://www.canadapost.ca/cpo/mc/personal/productsservices/shop/moneygrams.jsf At least to send money to Brazil and other south-american countries, it's the cheapest service I've found, and it's very reliable.


2

In the UK we have the FSCS - Financial Services Compensation Scheme and a similar scheme -- EFDI operates across Europe. However, it appears that such a scheme does not yet exist in South Africa, as this article from May 2017 details a proposal from the South African Reserve Bank and the National Treasury about setting one up.


2

By living in Sweden and having a Swedish personal identification number (personnummer), you are required to declare your entire worldwide income for tax purposes with the Swedish tax authorities, Skatteverket. It would seem to not make any difference if some of that income is kept outside of Sweden. A company that has no permanent base of operations within ...


1

If you have access to the stock market, a low-cost index fund is almost always a good bet. These reduce your risk over buying individual stocks, while matching the market in general. And all without requiring any real knowledge or ongoing attention. (Low-cost is important, though. You don't want your earnings eaten up by percentage fees.) Now, because you ...


1

Does the above mean I will not be able to send money to myself or my mother Yes that is right. PayPal will only be used for small trades. The credits into PayPal cannot be used to purchase anything, and will have to be credited back to the linked Bank Account. This is to ensure right reporting and taxes are being paid. You could use alternative Bank ...


1

No, typically a decline will not negatively impact your score however the underlying reason why it declined, may. Depending on the country, and how your credit score is calculated, it may include a large weighting on Capacity. Essentially how much of your available credit is being used. In some places, capacity can account for more than 25% of your score. ...


1

In the United States, this event will have no impact on your credit score. Credit card companies only provide credit bureaus with basic account information: the type of account, the status of the account, the limit, and the current balance. Individual transactions aren't reported.


1

If you are talking about Canada, no. Trying to buy something does not constitute a credit check and therefore it doesn't affect you Canadian credit score.


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