Spring inspires many South Africans to throw open the windows, clear out the cupboards and finally deal with the kitchen clutter. Very few of us do the same with our money.
Yet these are the tasks that cost the most when they are left undone. A recent international study found that nearly half (45%) of adults have at least one outstanding financial life admin task, while almost a quarter (23%) have three or more. Around two-thirds of South Africans have no will, according to the Sanlam Legacy Wills Survey. Writing or updating a will is the task people delay most, and it is seldom because they do not care. It is because the job feels bigger and more complicated than it actually is.
Mariné van Brakel, Deputy CEO at RCS, says the same instinct that gets a cupboard cleared can get a will signed. “We put off anything that sounds like paperwork or a difficult conversation,” she says. “The trouble is that these tasks are not urgent until suddenly they are, and by then it is usually someone else who has to deal with them.”
“September is a good month to change that. You do not need a whole weekend. A few focused hours will get you further than you think.”
Your financial admin spring clean checklist1. Get a will. If you haven’t made a will yet, get one in place – even a simple, professionally prepared document is better than none. 2. Check your beneficiaries. Your retirement fund, funeral cover and life policies pay out to the person you nominated with that provider, not according to your will. 3. Check your credit score. You can get a free credit report through RCS. Checking it does not harm your score. 4. Check what leaves your account. Go through three months of bank statements and look for subscriptions you no longer use; cover you are paying for twice. 5. Update your details. Tell your bank, insurer, medical scheme and employer if your address, phone number or marital status has changed. Tip: tick off one or two a week and you will be done by the end of the month. |
Step one: get a will
Every September, the Department of Justice and Constitutional Development, together with their partners, facilitates free assistance with the drafting of basic wills during National Wills Week.
“This year, National Wills Week will take place from 14 to 18 September 2026,” says van Brakel, who encourages all South Africans to take advantage of the opportunity while also ticking off a major life admin task.
“You do not need to own a house to need a will,” says van Brakel. “If you have children, a car, savings, anything of value or a policy, you need one. Without a will, the law decides who inherits, and that is not always the person you would have chosen.”
Once you have a Will keep it somewhere safe and tell someone you trust where it is. Then review it whenever life changes: a marriage, a child, a divorce, a new policy or a new home.
Step two: check your beneficiaries
A will does not cover everything. Retirement funds, life or funeral policies and some investment products pay out to the person nominated with that provider, not to the person named in your will.
“This is the mistake we see most often,” says van Brakel. “Someone updates their will after a major life change but forgets the beneficiary form on their pension fund or their funeral policy. Years later the money goes to the wrong person, and by then the family cannot fix it.”
Contact each provider, ask who is currently nominated and update it if it is out of date. Most will handle it over the phone or through their app.
Inform your family that Credit Protection Insurance (CPI) is included on your RCS account and is designed to settle the outstanding balance if you die, become disabled or are retrenched, so that they are not left with the debt.
Step three: check your credit score
Your credit score tells a lender how well you have managed debt before. Banks and lenders use it to decide if you qualify for loans, credit or account cards, vehicle finance or home loans and what interest rate you will pay.
Three habits that lift a credit score:
- Pay on time, every time. Payment history counts for more than anything else.
- Pay more than the minimum when you can.
- Apply for credit only when you need it. Several applications close together count against you.
“Most people only think about their credit score when they are applying for credit or a loan,” says van Brakel. “Checking it regularly does two other things for you. It shows you exactly where your credit rating stands and it shows up accounts you do not recognise, which is often the first sign of fraud.”
RCS customers can check and monitor their credit score at no charge through the Credit Gateway platform, offered in partnership with Welltec.
If something on your report is wrong, you can dispute it with the credit bureau free of charge.
Step four: check what leaves your account every month
Small monthly payments are easy to forget. Subscriptions, apps, memberships and streaming services keep running long after you have stopped using them.
Pull three months of bank statements and mark every debit order you no longer need or do not recognise. Cancelling three or four of them can free up money every month, that you can then channel into your savings.
Check that you are not paying twice for the same insurance cover. List every policy you pay for and what each one covers. Check for overlaps and duplications.
Step five: update your details
Banks, insurers, medical schemes and employers can only reach you on the details they hold. A change of address, phone number or marital status can hold up a claim or a payout at the worst possible time.
“It is also worth checking that trusted family members know where your will and key financial information can be found should an emergency arise,” van Brakel adds.
Start small but start now
Van Brakel suggests working through one step a week rather than trying to do everything in a single afternoon.
“Progress matters more than perfection,” she says. “Tick off one step this week and you are already ahead of most South Africans. Work through all five by the end of September and you will head towards the festive season knowing your affairs are in order.”
