How the South African 2020 Budget will probably affect you

Yes, we do know that the 2020 Budget’s only scheduled to be tabled in Parliament by the Minister of Finance, Tito Titus Mboweni on 26 February (at 14:00, to be specific) but what can we say? We like to be prepared. We like to take a little time to ponder things. If you’re anything like us, then you’ll be chuffed to know that all the docs relating to the 2020 Budget, including the minister’s speech, will be available on the SARS and Treasury websites as soon as the minister starts speaking in Parliament.

But that’s a few days away. Instead of waiting around, chewing your nails, we thought we’d compile a few ways that the budget speech could impact you as an individual. This way, you can get an idea of what’s coming and get a head start on your financial strategy to surviving the year. As the good sir Benjamin Franklin himself once said, ‘By failing to prepare, you are preparing to fail’. And while that’s super pompous, it is in fact frustratingly real.

Here’s what’s believed to be revealed in the 2020 Budget:

  • We’ll probably pay more for food.
  • It seems likely that there’ll be new taxes.
  • The interest rate could possibly go down by the third quarter of the year.
  • If the interest rate goes down, it won’t be soon, so investors relying on interest income shouldn’t be too optimistic.
  • Unemployment numbers might not get better (so it might be time to start your own small business, you entrepreneurial rockstar, you).

There’s lots going on in our economy and the news coming our way at the end of Feb doesn’t seem like it’s going to be good. But does that mean that we give up? Throw in the towel? Cry in a heap on a flight to New Zealand? No sirree. By all means, head out to pastures new if that’s in the cards for your future, but if you’re staying local then take our royal advice and be prepared.

As a nation, we’re stronger together and can each make life richer in spite of the economic outlook for 2020. For our part, we create amazing TV ads that are filled with off-the-wall humour. We want to raise a chuckle and bring light. We also (and perhaps more importantly than the ads) do our best to find ways for you to save on your insurance.

Here are some ways that you can save and make 2020 your year of plenty:

  • Switch to our decreasing car insurance premiums so that you pay less every month.
  • Save up to 20% on your premiums by insuring multiple cars with us (we have a great multiple car discount).
  • Increase your excess by a little to drop your monthly premium, but remember that it still has to be an amount that you can afford if you claim.
  • Add R1 insurance to your car insurance policy and cover some of your expensive goodies, like your golf clubs (yes, it will only cost R1).

What it comes down to, is doing what you can to save on the things that you need to have in place so that you can survive any nasty surprises that life or the economy throws at you. And that’s our goal. To help you get super cheap insurance that’s there for you when you need it most.

For all kinds and types of insurance, let the king help you. Get in touch today for super cheap insurance.


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