Posts by Max Chin

Max Chin

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Max has joined the 22seven team as a Slice and Blog writer. He has experience in start-ups and the corporate world alike, where he's currently employed in the finance industry. He's a strong believer in improving financial literacy amongst South Africans. You can catch him in the gym, exploring Cape Town's food scene or watching sports in his free time.
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Visualised: Pre-lockdown vs post-lockdown expenditure

Would you have believed it if someone told you that we would be where we are now at the beginning of the year? The coronavirus pandemic has certainly caused not only a health pandemic but an economic and social pandemic has resulted too. Our data and design teams have worked hard to bring together what… Read more →

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How the Repo Rate Cut Affects You 📉

The SARB has announced yet another reduction in the repo rate from 3,75% to 3,5% last week. This 25 basis point* reduction will have an impact on all South Africans, so we’ll break this down into how this affects you as a consumer, investor and saver below. The repo rate is the interest rate as which the… Read more →

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Starting from Zero 📝

Last week, Finance Minister Tito Mboweni delivered an emergency budget which comes as a result of the economic impact caused by the Covid-19 pandemic. Some of the highlights which came from the speech include: our economy being on course to experience its biggest contraction in 90 years, tax revenue collection being behind target by R35 billion and… Read more →

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Debt Repayment Strategies: The Debt Snowball

Given South Africa’s geographic location, snow is hard to come by for the average citizen. However, snow does occasionally fall in some parts of the country when the colder weather passes – you can actually see live webcams here. We won’t be focusing on real snow today, but rather on the analogy and methodology behind… Read more →

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The Best Debt Repayment Strategies 💳

Debt: the four-letter word which can haunt you or make you feel free. Whatever it makes you feel like, just know that you have the power to control it.  Regardless of the task at hand, every good plan always starts with a good strategy. Today, we will introduce three different strategies to help you reduce… Read more →

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Printing Money to Save SA? 🖨

Government’s debt has been increasing each year since 2008. The reason boils down to two simple concepts that everyone is familiar with: spending too much, earning too little or a combination of the two. The current pandemic looks set to worsen our levels of debt. A country’s debt is typically measured as a percentage of… Read more →

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What’s The Rand Doing?

The South African Rand has taken a hit in the past few weeks as a result of many factors including the Coronavirus, rating agency downgrades and a poor economic outlook.