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Spreadsheet Ranger

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Everything posted by Spreadsheet Ranger

  1. That will be the risk I take now - I am banking on it that I will earn more in 5 years than I do now to enable me to push 20% more into my bond in year 6 on wards. I will continue to look for places perhaps something else comes up before my lease agreement ends. Perhaps some middle ground like a a 23 year lease through SA home loans.
  2. Here a 30 year loan gives me roughly 200k more to offer, in Cape Town that 200k is the difference between a semi safe apartment and delft. My idea was to opt for the 30 year (giving me access to more money to buy a semi good place), but then through proper budgeting pay an extra 10% into the 30 year bond every month. Not sure if that approach is as wise as I think it is in my head? Essentially with 20 year bond, I can't get the place (roughly 100k short), 30 year bond I can easily buy the place. In an ideal world I'd like to save up for that 100k shortfall, but the reality is that property prices are rising faster than my saving ability through my salary, so I will always play catch up.
  3. I am still using my Samsung S6, but it's getting quite old and slow now. I am thinking of getting the Samsung A50 (cash) and then bundle that with a Telkom Free me sim only deal.
  4. Thanks for the responses so far guys. I see SA Home loans offers a 30 year bond. Are there any immediate dangers to opt for a 30 year instead of a 20 assuming the purchase price is the upper limit of the 20 year bond affordability? I know you'd be paying a ton more interest on the 30 year bond than on the 20 year bond, but I would increase my bond payments which should counter that? I also see SA Home Loans have something they call an "Edge Home Loan" which allows you to structure a bond in such a manner that you pay the interest only for the first 36 months - this looks appealing should allow me to qualify for more working under the assumption that my earnings in 3 years would be able to match the capital repayment. Am I understanding that loan correctly? Are there any pitfalls to paying off the interest only first on the home loan through this product?
  5. I am in the process of and looking to; buy a property. I see current interest rate on most of the bond calculators are on 10% which is probably the prime lending rate? How likely are banks to give you a bond with interest below the prime lending rate, assuming you have an excellent credit score? (Mine is 666 currently). Would it have any affect if I go to FNB and tell them if they give me a lower than prime interest rate then I will move all my credit cards to them from the other banks? I think what I am trying to get at is how do you negotiate the interest rate with a bank as a first time home buyer?
  6. I also have some in DCX10. I'm sitting on a bit of cash. Really hoping to see BTC go below $6k in the coming month before it goes up.
  7. IPO for Engen planned for 2020 Petroliam Nasional BHd and its South African partners plan to conduct an initial public offering in their fuel retailer Engen to fund the upgrade of a refinery in the coastal city of Durban and to expand its network of gas stations. A yet to be decided amount of shares in the company, which is South Africa’s biggest fuel retailer, will likely be sold on the Johannesburg Stock Exchange in the first half of next year, according to people familiar with the matter. Engen’s 135 000-barrel-per-day refinery needs to be upgraded to meet more stringent laws aimed at curbing pollution. Engen is 74% owned by Malaysia’s Petroliam Nasional, known as Petronas, and 26% held by a group led by Phembani, a South African company founded by Phuthuma Nhleko, one of the country’s most successful black businessmen. JPMorgan Chase & Co. has been mandated to assist Petronas with the listing, the people said, asking not to be identified as the plan hasn’t been announced. Engen, which was founded in 1881 and now operates in seven African countries, has an asset value of more than R40 billion ($2.6 billion), according to the people. In its 2018 financial year, it posted revenue of R82.5 billion and net income of R1.8 billion. In addition to its own operations, Engen earlier this year swapped gas stations in eight African countries for a stake in Vivo Energy. While Petronas gained control of Engen in 1998 it has since tried to sell the company, holding talks with South Africa’s state oil company, PetroSA, in 2013. Petronas and Engen didn’t immediately comment when called by Bloomberg. JPMorgan didn’t immediately respond to an emailed query. Source: Bloomberg L.P.
  8. Item: EVGA GeForce GTX 1070 SC2 Gaming 08G-P4-6573-KR 8GB GDDR5 256-bit PCI-E 3.0 Desktop Graphics Card Quantity: 10 cards Age: Bought June 2017 Price: R3000 Warranty: I think these cards came with a 3 year warrenty from Corex. Packaging: I still have the original packaging. Condition: Perfect, we wanted to use it in mining, but was to late to the party. Location: Cape Town Reason: Not being used. Shipping: If you take more than 1 then we can split it 50/50. Collection: Collection can be arranged from our office in Bellville. Link: https://www.wootware.co.za/evga-geforce-gtx-1070-sc-gaming-208g-p4-6573-kr-8gb-gddr5-256-bit-pci-e-3-0-desktop-graphics-card.html
  9. I actually thought that if any broker or related platform in SA was going to use blockchain and attempt to tokenize a unit trust that it would be Sygnia - @Magda Wierzycka That said well done ZAR X, I hope they publish some statistics especially on speed (blockchain is slow) and also it would be interesting to see who the participants are. I think this is just a normal ethereum token (ERC-20), but it's a step in the right direction, perhaps ZAR X will pave the way by setting up the foundation to enable tokenisation and settlement of traditional assets (or any asset for that matter). @DCX10 what are you guy's thought on this?
  10. For a affordable and legal way - ask @PDSNET they have myriad of packages available for various JSE data points and their service is second to none.
  11. The bloomberg API still works: MTN https://www.bloomberg.com/markets/api/quote-page/MTN:SJ
  12. The chief executive officer of South Africa’s best performing bank stock this century has advice for president Cyril Ramaphosa: rally everyone around the goal of uplifting economic growth. The rest will follow. “If I was in president Ramaphosa’s shoes I would only do one thing,” Capitec Bank Holdings Ltd’s Gerrie Fourie said in an interview at the lender’s headquarters in Stellenbosch. “I would get every single person to talk growth. The one thing I have learnt is that when people have a common objective, and everyone goes for it because it’s clear, you achieve things.” While South Africa averted its second recession in as many years with an annualized second-quarter expansion of 3.1%, the underlying economy remains weak. Consumers have been battered by rising taxes, utility bills and a stubborn unemployment rate of 29%. Business confidence is being weighed down by political uncertainty and the lack of visible progress by Ramaphosa in tackling the increasing burden of struggling state-owned entities on the government’s finances. “That means all 28 ministers must give him a growth plan for how to grow South Africa,” Fourie said, adding that faster growth will help broaden and expand the tax base, attracting investment. “We have two big problems in South Africa, the one is education and the other employment,” the CEO said. “If you start growing you can sort out those problems.” While the government spends 6% of gross domestic product on education, as much as most developed nations, outcomes are among the lowest in international rankings. This is mainly because of poor subject knowledge among teachers, who are protected by powerful labor unions, the country’s racially skewed past and language barriers, according to an International Monetary Fund working paper released in March. Capitec, which started as an unsecured lender in 2001 and then expanded into a full-service offering, has been one of the country’s fastest growing banks with a market-leading 11.4 million customers. The company, which releases first-half earnings by the end of this month, expanded by rolling out low-cost bank branches that don’t hold cash, outperforming all other lenders in the six-member FTSE/JSE Africa Banks Index since its listing. President Ramaphosa’s administration could probably also be decisive with measures around state-owned power producer Eskom Holdings SOC Ltd, which is relying on government bailouts to keep its operations going and repaying debt equivalent to almost 7% of the nation’s GDP. “You need to be radical. It doesn’t sound good but if you really look at what needs to be done you need to downscale middle and senior managers and get it lean and mean and focused,” Fourie said. “Then you can turn it around.” Source: Bloomberg
  13. South Africa avoided a second recession in two years, with the economy growing by 3.1% in the three months to end-June, according to Stats SA. Full article on Fin24: https://www.fin24.com/Economy/South-Africa/sa-economic-growth-surprises-recession-avoided-20190903
  14. Welcome to the forum @Tinuva I really appreciate the feedback. I have one question left and it is regarding the EFT bit. You mentioned that EFTs count for 0 ebucks and that I should instead use my credit card. Can you explain to me the Capitec user what that actually means. do you mean EFT from my credit card account or do you mean entering my credit card details into a payment gateway? If it the case of entering the physical credit card, how would that work in the case of the municipality (They barely know how to use EFTs.) or is this simply a case of in some cases EFT will be the only way and to bad regarding ebucks.
  15. That confirms my suspicion regarding Discovery Bank. I hope FNB contacts you with a good client bonus, because you just convinced me to open a FNB account.
  16. I've been looking for a GPS pet tracker for some time now and I see Vodacom now resells the POD 3 (https://www.podtrackers.com/products/pod-3/) pet tracker. Curious to know if anyone tried the POD 3 pet tracker yet? I went to the Vodacom in Tygervalley and they had no clue what I was talking about, I had to go and point it out in their own booklet before they believed me that they sell pet trackers. Typical Vodacom. The interesting part is that the POD 3 retails for $129, but Vodacom is selling them for R1499 which is a bargain if you take shipping into account. This is the link to the product on Vodacom's website.
  17. I currently bank with Capitec and I am happy. I mean the bank works it allows me to send and receive money and I earn enough interest to cover the admin fee and most of the transaction fees. That said Capitec costs a lot more than R5 per month as the brochure suggests. At the end of the month I pay roughly R60 in transaction fees + R5 admin fee + R50 for the credit card facility so I am paying on average R115 per month in fees to bank with Capitec. In a world where alternatives exist this is too much for what Capitec offers so I am now in the market for a new bank account. I have to say, I also have a Tymebank bank account, but they don't do online payments or credit yet so not a fully fledged bank in my view. Absa and Standard Bank are expensive in relation to what they offer and they dead last in perks so they are out. Nedbank, do they still exist? This leaves me with FNB + Ebucks or Discovery Bank + Vitality Money. I have the following expenses in a month: Rent – I pay (EFT) that to Rawson each month. Electricity - I pay (EFT) that to PEC Metering each month. Medical – I pay (EFT) that to Genesis each month. (Not impossible to switch to Discovery if there is a major saving/benefit) Gym – That is a debit order on my account. Telkom – That is a debit order on my account. Petrol - I spend around R500 in month on petrol which I pay for with my Capitec card. Airtime - My phone is prepaid so I buy airtime with my bank card or EFT depending where I buy airtime from. I then pay (EFT) money to Nedbank for the investment club. I have a paypal order each month for the forum which goes off my card (linked to paypal). I have a debit order from Netflix each month. I do about R3000 in shopping at pick n pay, but can move to checkers for ebucks if needed. The rest of my money I pay (EFT) to EasyEquities or leave in my bank account to earn interest. Any idea which bank FNB or Discovery Bank will offer me the best perks here. I am interested in the perks, because if I am going to give the bank money I expect something back otherwise I would have sticked to Capitec.
  18. This is a pretty common forum game, so maybe a few of you already know what it is. Basically, the first person makes a wish, then the next person grants the wish, but with some kind of loophole. Then the second person makes their own wish, and the next person corrupts it, and so on. Example: Poster 1: "I wish for a taco!" Poster 2: "Granted, but your mouth falls off so you can't eat it." "I wish for a monkey to be my man-servant!" Poster 3: "Granted, as a matter of fact, you get 20, but you are a tyrant as a master, and they start a monkey man-servant uprising and rebel against your harsh dictatorship." "I wish for..." And so on... I will start, I wish I had a photographic memory.
  19. @Groovy I like the idea (you get exposure to the upswing (and down), but you do not technically own any of the coins. Owning all those coins is a mission, because you need to keep all your wallets up to date and keep the info safe etc. So I like the DCX10 "fund", but personally I keep my own BTC (buy it through Luno (anything below $7k is a good price imo.) and then just keep it) for a start, later when you get comfortable you can send the BTC to a wallet like JAXX or Mycelium (my personal one I use). So in essence, try to buy your coins if possible, but to get exposure to the potensial gains of crypto (minus a 1% per year fee, which I think is a lot, it's too much.) get comfortable and then buy BTC and ETH on Luno and later send that to your own wallet so you are in control. I think @werner and theo other luno guys are on here to assist if you struggle. Ditto for Ice3X I think @IceCUBED Exchange is also here. @Energy the DCX token/fund is 69.9% bitcoin and bitcoin is down almost 20% from the $14k high, so DCx would be down as well. This should be a long term hold, 7+ years and that is where I find issue with the 1% per year fee, because that adds up.
  20. Same, calculator is buggy as hell. Return form does not work on Opera, cannot print anything.
  21. A criminal case has been opened against an unnamed former executive for his role in #Tongaat's accounting scandal. https://www.moneyweb.co.za/news/companies-and-deals/ex-tongaat-official-scrutinised-in-echo-of-steinhoff-scandal/
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