How we behave with money is deeply rooted in how we think, feel and what we believe about money. Fear is the number one culprit and can be very crippling when it comes to our financial freedom. Often it stifles one and stops them from taking action to achieve their goals. However, we must realise that fear is just a paralysing emotion which makes you worry about what could possibly occur in the future.
Often, instead of confronting and facing those money fears, we hide them and avoid them. This is the opposite of what needs to be done, should we desire to conquer them: “What you deny/ignore, you delay; what you accept & face, you conquer”.
I shall focus on the different aspects that contribute to our financial well-being:
1. In a relationship, what is best, to manage money together or separately? (Lerato)
2. Any advice on how best to make use of the 13th cheque? (Themba)
3. So I recently got a lump sum of money from my shares. I have a dilemma. I got involved in a car accident a few months ago, car was a write off and didn’t get much out of it. I need a new car, hence my dilemma, I have enough to buy cash a second hand car using money from my shares money, or should I use the money to put in a huge deposit for a brand new car? (Ashton)
4. When times are tough, which often is the case, is it wise to borrow from one’s savings or should just one get a separate loan? (Simba)
Lesetja Madiba is a Financial Wellness Consultant at Citadel.
Christmas decorations have started coming up, summer is in full swing just about and most of us are quite ready for holiday. We look forward to the Christmas season but it can quickly become a financial obstacle course. As we will be trying to dodge all the different expenses.
If we are to survive the festive season and come out of it financially well there are quite a lot of situations we need to navigate wisely. The festive season sees consumer spending reach a maximum and research in the past has shown that despite negative economic outlooks South Africans continue to spend. If you are to survive the festive season, here are a few things one has to consider and watch out for:
Proverbs 12:11 says “He who tills his land will have plenty of bread, But he who pursues worthless things lacks sense”. A salary nowadays is hard earned, the bible speaks about having plenty finances (bread) if you work for it. Therefore making unnecessary purchases and wasting money is senseless.
After all if you don’t have a plan to spend your money someone else will. Start to discipline yourself heading into the festive season and come out of it financially well.
Lesetja Madiba is a Financial Wellness Consultant at Citadel.The Festive Season is Upon us
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Personal Financial Coaching with Yena Khuboni
Yena Khuboni is a Financial Wellness Consultant and has a B.Comm triple major in Information Systems, Internal Auditing, Finance & Management Accounting.
She discusses Personal Finances live on a Friday during Changing Gear at 17h00.
Podcasts of these talks are also available.
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Click HERE to read Yena's latest Financial Advice Blog.