These days, governments prefer to raise money by stealth. In the Healey budget of 1975, there were eight big tax measures. In George Osborne’s budget in 2016 there were 86 crafty little ones, including higher taxes on landfills
Many South Africans are ignorant of the basics of personal finance, a trait that transcends income levels. Neil Roets, who heads Debt Rescue, a debt-counselling firm, says new clients are first asked for their household budget. Most do not have one.
- Do you understand the basics of personal finance?
- Do you have a monthly household budget, and know when you’re over/under it, and why?
Ignorance of personal finance basics, and lack of a household budget – I’m sure a good proportion of people, across income levels, in India and the UK, would fail this test.