Everyone wants to decrease their tax liability, and we thought we’d compile a few for you:

1. Get your things in order now.

Too many people wait until the very last minute. When the deadline looms they can’t find the right documentation, mistakes get made and they end up paying more taxes than they should because they can’t claim for things they have the right to claim for. My getting your documentation done now you’ll have enough time to sort out a proper tax strategy.

2. Be honest with your taxes.

If you’ve messed up and don’t have the cash reserves to pay your taxes – be honest about it. SARS is not the monster people make them out to be, as long as you’re the one that confesses the mess-up to them. You may find SARS would be happy to give you a payment plan.

3. Use a proper accountant.

Too many people try and do their taxes themselves. This goes for personal and business people. South Africa’s tax laws are complicated, to say the least. Don’t be deceived by the simplified forms. By using a proper accountant to submit your taxes you’ll find there are things you have the right to claim for that you didn’t even know about!

Need some help?

If you’ve read through this and realise you’re in trouble, don’t panic. We’ve asked our friends at Bach Accountants to be on standby for anyone who wants to get their taxes in order. Visit their website, by clicking here.

What is coaching?

by Veronica Wantenaar

“Coaching is a professional, collaborative and outcomes driven method of learning that seeks to develop an individual and raise self awareness so that s/he might achieve specific goals and perform at a more effective level”

COMENSA (Coaching and Mentoring South Africa)

We have all heard the saying that the one constant thing in life is change.  This means that individuals are constantly bombarded with new situations and demands, causing confusion, stress and sometimes burnout.   Organisations are facing very challenging economic and social realities and they need to find new ways of engaging, enabling and supporting their people to achieve the business objectives – often doing more with less.

So coaching is about change.

There are two types of change: Choice change and forced change

• Choice changes are the ones when we make the decision to create the change in our lives such as finding a new job, getting married, moving house.  The fact that these are our choices gives us a greater sense of control and confidence in dealing with whatever difficulties may arise but sometimes need support.
• Sometimes we are placed in a position of having change forced upon us such as retrenchment, a broken relationship, disability or illness or the death of a loved one and we do not have a choice but we have to ‘deal’ with the change.  This can bring a sense of loss and helplessness and the need for some practical support.

Sometimes in life we come to the realization that:

• the life that we are living is not the one that we really want; there are dreams and ambitions that we have lost along the way
• We are feeling that our life is out of balance
• We are being forced into roles that we do not want for ourselves
• We are feeling overwhelmed and need to gain some clarity about who we are and what we want
• We are struggling with being effective in our workplace

We know that we need to make a change but it can seem daunting without assistance.  These are situations where coaching can be really effective

Coaching is about moving forward in life.

The coach’s role is to speak and act in such a way that others learn and perform at their best.  The coach provides a thinking space where the individual/s can explore their current reality in relation to their goals and set realistic achievable milestones to take them to their desired future.  The coach is there to facilitate the discovery process and create a sense of awareness that will lead to action and results:  Moving from current state to the desired state.  This could be in terms of your own personal self confidence, your business effectiveness or improved interpersonal relationships.

Over time we will be exploring what to look for in a coach, some ideas around self coaching and responding to some of your coaching questions.

From May 2010 we will be launching a new addition to our website and e-magazine – Coaches on Call! This is the brainchild of Veronica Watenaar, the latest edition to the SECRETS2SUCCESS team.

Veronica’s has over 25 years coaching experience in sales, learning and development, facilitation, change and transition, consulting and management, as well as understanding and addressing developmental needs. She has been a member of the Coaching Centre for many years and is also the past Chairperson of COMENSA in the Western Cape. Veronica’s success in each of these areas is based on her real interest in people.

Veronica will be writing a weekly column talking about the benefits of coaching, exploring what to look for in a coach, some ideas around self coaching and will be responding to any questions you may have. The Secrets2Success Team would like to take this opportunity to Welcome Veronica aboard and we look forward to working with her in the future.

Why do you need life insurance?

Life insurance isn’t for the benefit of the person who is insured, it’s for the insured’s loved ones. Your family needs the guarantee of a comfortable financial future in the event that something should happen to you. A good life insurance policy can help you meet that goal.

The primary purpose of life insurance is to enable your family to continue their current lifestyle when and if you’re no longer around. It is also designed to help meet specific needs that your family will have in the future.

Here are a few examples of how a good life insurance policy can protect your family:

• Life insurance will replace your lost income in the event that it goes away in the future.
• It can pay off your mortgage and provide your family with a debt-free home.
• Credit card and other consumer debts can be liquidated with life insurance benefits.
• An adequate life insurance policy will fund a quality education for your children.
• Final expenses can be paid from your life insurance proceeds, preventing the need for your spouse and/or children to have to deal with them at the worst possible time.

How much life insurance do you need?

As a general rule, a married couple with children should purchase a life insurance policy for at least 8-10 times the primary wage-earner’s annual salary. But special circumstances may require more:

• Do you have a large bond on your home?
• Do you have one or more children that will eventually attend university?
• Do you have one or more family members who are long-term disabled or someone who  will require extensive medical care?

If you answered yes to any of the questions above, you need to adjust the amount of life insurance coverage accordingly. It’s wise to err on the side of too much coverage instead of not enough. Your life insurance agent can help you determine the amount of coverage that is best for you and your family.

Conclusion

Life insurance is insurance for your family’s peace of mind. Their future standard of living may well depend on the life insurance decisions that you make today. Click here to get a free quote today.

Money Budgeting is a phrase that either bores them too much, or makes them depressed. But, this is how successful people deal with money – they budget. It’s a lesson that must be learned to succeed financially in this life. Here is some helpful information.

Many people are lured into the trap of spending more money each week than they are bringing in and most people are doing this without even realizing it. The main reason this happens is because we are no longer taught or remember how to budget our money. With the introduction of credit, it has become easier to use money that you don’t actually have.

This lack of money budgeting in today’s world is beginning to reach a cataclysm with many families, and individuals who are now finding themselves with severe debt problems and little knowledge about how to turn their bleak situation around.

Even with all of the bad debt write-offs, banks are more than happy with the way things are. Banks build in their own risk factors based on bad debt in their interest rates to give them profit regardless of bad debt write-offs. Simply put, those borrowing money are paying for their inability to budget effectively.

Tips to Effective Money Budgeting:

The basics of budgeting start with you listing incoming money over a period of time, such as a weekly, monthly or fortnightly, then listing the outgoing money, such as mortgage payments, car re-payments, credit cards and so on. Money budgeting also has many other factors used to make it effective, including keeping a constant eye on how your budget is doing and changing it to accommodate unexpected problems without overspending.

Keep all of your receipts and account for what has been spent. Use this to make calculations as to where your money is going and for what. Expenses can be divided into four main categories. These are:

• Housing: mortgage, rent, utilities, property taxes, insurance, etc.
• Work: transport, parking, work clothes, lunches and if you have children, day care
• Living: food, clothing, medication, insurance, etc.
• Personal: entertainment, newspapers, magazines, alcohol, gifts and education, etc.

Once you have categorized all of your bills, take out a blank piece of paper and a calculator. Figure out what is being spent each month on these categories and what can be cut out of the budget to allow more money to go toward bills or improving your financial situation.

Many people get so used to luxuries, they turn these things into fixtures in their weekly, fortnightly or monthly spending habits. By weeding these expenses out or making them a luxury again that is only enjoyed occasionally, you can also save quite a substantial amount of money. When you go through your spending habits, you will be able to calculate how much you are actually spending on these things.

Don’t forget that a contingency fund should always be factored into any money budget. This works out to be around 10 % of your income. A contingency fund will benefit you when you need it the most, such as when you lose your job or have an unexpected expense such as plumbing go wrong in your home. This contingency fund should be kept in a separate savings account and only accessed in emergencies.

Motivation Is The Key:

Motivation is very important when you are budgeting. As an incentive to create a budget and stick to it, remember that the only way to regain wealth is by spending less money than you are receiving. The only way to spend less and do more with your money is to learn how to effectively budget it and stick to your plan.

Once you start to see the benefits of your budgeting and are rewarded with more money in your bank account after you have finished paying out, you will be more encouraged than ever to budget your money.

Another way to teach yourself to budget is to give yourself a solid incentive to stick to it, and make your budget work. You may make it your goal to get your finances in order, so that you can take a vacation or get something that you and your family really wants. Place reminders on your fridge or in your wallet. By doing this, you will be reminding yourself of the reason you have decided to sacrifice some of your luxury spending.

Although this sounds great, when you budget, you will have to learn to set aside any emotions that you may feel toward your budget. Examples of emotions getting in the way and interfering with a well planned budget is when you have to cut out the things that you want, such as weekend breaks away, toys for your children or new furniture, for a while, until you have arranged your finances for the better better.

If you have a family, try to keep them involved in your money budgeting and where the budget needs to be tightened to benefit everyone to exclude non-essentials, explain to family members why budgeting is important. This will help to educate those around you about the importance of budgeting and how budgeting can help you all obtain the things that you want, such as luxuries, without them being a financial burden.

Another trap many people fall into is getting into the habit of ‘keeping up with the Jones’ regardless of their own personal financial situations. After all, money budgeting is about your personal set of circumstances and your personal finances, not someone else’s. Just because your neighbors have just bought the latest model car or had cable television installed, doesn’t mean that you have to, pay attention to your budget and let it be your decider on whether you can afford the things that you want.

Budgeting is a vital skill needed to control your finances and avoid getting into serious debt. By educating yourself on how to budget effectively, taking the time to carefully plan a good budget and monitoring it regularly you will be able to keep yourself and your family encouraged to stick with it.

Set achievable goals and even though, at first, money budgeting may seem tough, it is the only way to have the things that you want, as well as a secure financial future.

About the Author

Ken Black is the owner of Debt Relief Today, a website all about money budgeting, credit counseling and Credit Card Debt Consolidation for those in need of financial assistance.

By: Eric Laundrie

Are you thinking about starting a home based business? With the economy being the way it is, more and more people are either thinking about starting their own business or have already started one.

We hear the same news almost every week.  One company after another announces layoffs of hundreds of employees at a time and many of us wonder if the day will come when our job will be included in the next headline.  After years of working with the same company, being comfortable in our positions and having a sense of security, you could have all of that taken away in an instant in this current economy.

Perhaps you’ve already gone through this reality and received a pink slip.  You’re trying to make ends meet while collecting unemployment and applying to every job opportunity that crosses your path.

Is Now the Time to Start a Home Based Business?

There are people who think that given the present state of the economy it may be the wrong time to start a business.  Actually, now is the perfect time!

If you’re currently unemployed, why not spend your time researching an online home based business opportunity?  You can focus your efforts on taking control of your financial future by running your own business from home.  If you are working and unhappy with your job, you can research some opportunities that peak your interest and start on a part-time basis while you build your business.

What are the Advantages?

The advantages of starting a home based business are plentiful. You get to decide what type of business you want to have, how many hours you want to work, the times you want to work and determine the outcome you want to achieve. You are your own boss and you only have to answer to your customers.  Working from home requires minimal overhead costs, which means you get to keep more of the profits.

Do You Have What it Takes to be an Entrepreneur?

Are you willing to put in just as much work in your business as you do for your boss?  You may be required to work long hours for your employer and often times are limited in your pay.  Just think about all of your hard work being put towards your own business and the unlimited earning potential available for your efforts.

Are you ready to market your business?  In order to sell your product or service, the public has to know about it.

Do you care about your customers?  Without them, you have no business.  Providing excellent customer service is vital for remaining a successful entrepreneur.

What are the Best Kinds of Businesses to Start?

Online home based opportunities offer the most benefits because of their flexibility and broad customer reach.  Working online means that you have the freedom to work from anywhere from your computer at any time of day or night.  You can offer products and/or services to potentially thousands of people on the Internet.

Why leave your future to chance?  If you’re thinking about starting a home based business, now is the time to do your homework and choose the opportunity that aligns with the career path you desire.

About the Author

Do you want to earn your living online? You need a proven model, education, and a supportive community. To catch up with the rapidly changing community, starting a home based business is just a click away. http://www.ericlaundrie.com

By: Jay Jenkin

Many parents are concerned about their child’s weight. This is a concern because they want the best for their children now and in the long run. Is the child too heavy for his or her height?

First of all, understand that many children can be disproportionate at times. This can be because of late growth patterns and other issues. Many times, what might appear to be a weight problem is just temporary and part of growing up. Very few children have a body that looks like a fit adult. Chubby can be part of growing up at times.

If you are concerned about your child being overweight, there are two ways of checking. The first is BMI. It is not completely accurate, but it gives you a general picture of their height compared to their weight. This will show you on the chart how heavy they are for their height. The more accurate way of doing this would be to get a body fat percentage test. This will show how much fat is on the body, which is actually the real concern with weight as other things, like muscles, are not a bad thing.

Regardless of the results, you need to teach your child good habits. This does not matter if they look fit or look heavy because these habits need to be developed at an early age.

The first would be to start eating foods that are more nutritious. Do not put the child on a diet, instead start adding in more nutritious meals and snacks. You as the parent might have to start eating better in front of them as well just to set an example.

Get your child involved in activities. Sports are generally the easiest way of doing this. Your child will get some exercise, burn calories, and make friends all at the same time.

If you have real concerns about your child’s weight, be sure to take them to a physician or pediatrician to make sure there is not an underlying medical problem. Otherwise, with some healthy eating habits and daily exercise, your child may thin out in no time.

About the Author

Jay has been interested in family, finance and health issues for many years now. Please visit his latest website about Boys Linen Trousers which helps you find Husky Boys Pants and information, tips and pricing on all types of boys pants.

If you want to quit smoking and have a healthy lifestyle you should start by making a firm decision to give up. While the short term effect may be weight gain, this is something that can be overcome after your battle with the nicotine cravings is overcome. Just be aware that you can handle it later as it can be difficult to battle two problems at once.

Your decision should be totally self-determined and you shouldn’t do it because you are being nagged or pressured to do it by somebody else. Giving up based on another person’s decision rarely works.

Secondly, find out for yourself about the effects of smoking on your system. Don’t rely on TV commercials or pictures on cigarette packets for your information. Get a really good idea of how it affects you. For example, the amount of oxygen that your blood can transport is cut down when you smoke. This can result in lower energy, fatigue and general exhaustion as well as an overall lowering of your body’s ability to function properly.

Cigarettes stimulate metabolism. According to research, you burn up to 250 calories in a day if you smoke one packet of cigarettes in a day. When you quit smoking, the body metabolism slows down resulting in those calories burning more slowly and resulting in extra weight. Some people gain 1 kilogram (2 pounds) once they quit for 2 weeks and when this happens, they tend to resume smoking to prevent weight gain. If you stick to your decision to quit smoking, you will be rewarded in the long run as eventually the metabolism will normalise and you can then focus on dropping those extra kilos.

Typically, smokers only gain between 2-4 kilograms (3-7 pounds) throughout the process of quitting. And when you think about the advantages of having a healthy and smoke free body, you will feel great inside and out and not minding those gained extra kilograms, in the short term. You vital organs like the lungs, heart and arteries will be free of the toxins and will start to regenerate new cells after being inundated with nicotine. You can work on losing that weight once the hard task of quitting smoking is achieved.

Gradually, after quitting, you will notice changes in your physical appearance. Your skin is free from stress and will appear to be fairer and smoother. Those yellow stains on your fingers and fingernails will disappear. You won’t have bad breath anymore, and your teeth will be free from stains and you will have healthier gums too. These are some of the physical advantages of your decision to quit smoking.

To lessen the cravings and weight gain, do drinks lots of water – ideally 8 glasses a day to keep you hydrated and to flush out toxins. Substitute healthy food for cigarettes, but do not substitute junk foods like McDonalds or fried chicken because it will blow out the whole weight gain effect. Don’t go for sugar rich and fatty foods. Try also to exercise to keep busy and increase your metabolism. It will also help sweat out toxins. If you do go to a gym try to get into the sauna.

You have to have a very, focused mind to be able to fight the challenging moments that will tempt you to go back to smoking.

Lastly, consider a high quality homeopathic stop smoking aid, such as Smoke Deter.

About the Author

Lachlan Quarry is a strong believer in herbal and homeopathic remedies such as Smoke Deter, available at http://www.smokedeter.com/?aid=639016

You can also read a review of Smoke Deter at http://www.herbalproductreview.com/specific-health-products/smoke-deter.htm

There’s a lot more in store for our readers in 2010! Suggestions welcome!

Tips for Successful Travel

Well, you have decided you want to go on an overseas trip! It is so exciting, and daunting all at the same time. These tips might be obvious to the seasoned traveller, but to those travelling for the first time, I hope that you find something useful in them.

I do not profess to be a ‘professional traveller’.  I have however travelled far and wide and if at all possible at least once a year.

The obvious – decide where you want to go. Once you have chosen the country of your destination, read up about the customs and culture of the country. Even if you are going to use a travel agent, they will not tell you the small details. For instance:

• I was in Dubai during Ramadan – eating and drinking is forbidden by everyone during the hours of Ramadan, in any public place.
• In rural France, everything closes at lunch time, except for the big chain stores, and in larger cities, the restaurants.

After you have decided where you are going, you need to decide when. If your leave is flexible, check the weather conditions for when you travel. It is not fun to be a visitor in hurricane season, or the depth of winter.

Booking tickets

Now, time to book your tickets. The internet is not always the cheapest option, and if you need connecting flights it may be a bit daunting. I always use the internet, but my sister uses a travel agent. Remember, however that if you need connecting flights and you do not use one carrier but choose to do the segments yourself you will have a serious problem if you miss a connecting flight. If you book with one carrier, all the way through, then the carrier will take responsibility if one of your flights is delayed or cancelled.

Travel Insurance

If you book and pay for your tickets with your credit card you will automatically get travel insurance.  If you use air miles to get a ticket you might not be covered by travel insurance. Once your ticket is booked, contact the company that covers your travel insurance and get the documents you need from them. If you are going to need a Visa then you will need an Embassy letter from the insurance company.

Visa requirements

Download the forms you need for the Visa and see what supporting documentation you need to go with the application.  Keep all the documents in the correct order to make it easy for the person who grants your Visa. Each country has different requirements but you will need to have certain documents:

• A letter from your company stating you have leave and you are returning to work
• A copy of your itinerary
• Confirmed accommodation booking or a letter from the person you are visiting inviting you to stay with the dates and motivation
• Air tickets booked
• Proof that you have the necessary funds available
• Recent ID photographs
• Your passport must be valid for a period of at least 6 months after your return date

Booking a hotel in a country you do not know can seem quite a task.  Do not go for the cheapest option. Make sure you know the area in which the hotel is – you would not like to be in the middle of Brixton in London! Three stars is a good indication. As a guideline you would need to look at spending €80 per night in Europe for bed and breakfast for 2 people.

Car Hire or Public Transport

If you are not going to hire a car make sure public transport is within comfortable walking distance of your hotel. Also, in some cities you may not be allowed to take your suitcases on public transport. Suitcases need to be easy to walk with. I personally recommend the Microlite range from Cellini.  We travel a lot, so the expense has been well worth it. If you are not planning on doing much travelling get something that is an equivalent.

Luggage considerations

In economy class, you are allowed only 23kg per person check in luggage. This is to allow for the weight of the suitcase, so the heavier it is empty, the less you can pack.  Each piece of luggage is allowed to be a maximum of 32kg for health and safety reasons. This is for all classes. If you fly economy class you may only have one piece of check in luggage per person. Invest in lots of Ziploc bags for all your liquids. It is not fun to arrive somewhere to discover your shampoo has leaked all over your clothes.

Your hand luggage can only weigh 7kg and I would suggest you get something that can slip over the handle of your check in luggage to make it easy for when you have to walk places.  In economy class you may take one piece of hand luggage per person, including your handbag.  I pack a pillow for the plane as well as a change of underwear. At least this way if our suitcases do get lost, we can feel like humans when we go shopping.

Medication considerations

If you are on any medication take it with you on the plane – even if you don’t need it during the flight. Also ensure that you have a letter from your doctor, or a script for all the medications you have with you. In Australia and Singapore they are extremely sticky about this.

On flight forms

You may have to complete forms on the plane before you land as to where you are staying. Take a pen with you on the flight, and have the details copied down, as you cannot turn on your cell phone to get phone numbers etc. In Australia you cannot turn on your phone until you have cleared customs.

Securing your luggage

As soon as you take your suitcase off the conveyer, check that all locks are still on and that it has not been tampered with. I use cable ties for the locks I am keeping closed the entire trip – bright pink for me. Get coloured ones from any hardware store – but not black or white, as these are the colours the airlines use.  If your suitcase has been tampered with, call a customs official straight away. I have had this happen to me in Australia and the customs officials were more than willing to take charge of the situation. If your suitcase has been damaged, report it to the airline immediately, making a note of what is missing. Remember, things can be added to your case as easily as they can be taken out!

Travel money

The best form of currency to use when overseas is your credit card. However, you will need cash for certain transactions. Get your currency before you leave and make sure you have some easy to get to at the airport. We work on €100 a day for all our expenses.

At the airport you should be able to get good visitors information. If you are making use of public transport try and get a pass for the amount of days you are in the city. We have permanent cards for London transport, and have made use of week long passes in all other cities. This gives you access to all transport for one flat fee.

Eating with the locals

Try to not eat at places where the menu’s are also in Chinese – this means they are tourist places. If in Italy and you find a menu only in Italian, you can be assured this is where the locals eat. The food is usually much better, and the waiters are professionals, so they will help you, even if you don’t speak the language. We have had some of our best meals in restaurants where the staff spoke very little to no English what so ever.

Market Shopping and duty free

The same goes for market shopping – shop where the locals shop and you are guaranteed to get the best produce, and pay the best prices. However, if it is perfume you are looking for; get it at duty free on the way out of the country, unless you find an amazing special at a perfume shop. You can check the prices at duty free in South Africa for a guideline as to what you should be paying.

Alcohol is not always cheaper overseas. We take with our maximum quota of wine and usually bring back some local product. Remember to pack it in bubble wrap and in a Ziploc bag – and place the wine in the middle of your suitcase – with clothes above and below.

Tandy’s Tips

Tandy Sinclair is an alternative health and wellness consultant, Reiki practitioner and an avid supporter of organic health and beauty products.

Ask Tandy: Feel free to submit questions to editor@secrets2success.co.za