Money Savvy partners with Money Smart Week to teach teens to invest

 Creating Money Savvy Kids

 Financial education from a young age provides a powerful head start in life. Not only the domain of adults, the importance of financial security and the ability to manage one’s finances is something that all children should learn about from an early age.

To this end, National Treasury, the Financial Sector Conduct Authority (FSCA) and the National Consumer Financial Education Committee will be rolling out MoneySmartWeek South Africa (MSWSA) between the 23rd and the 28th March 2020. A national financial literacy campaign, the initiative aims to motivate and empower South Africans – and especially the youth – to become better educated about their finances.

As part of the campaign, an exciting teen saving and investment event will be held on the 24th March 2020 at Higher Ground, St Stithians, Johannesburg. It will be hosted by Kathryn Main, CEO of Money Savvy Brands and EasyEquities, as well as relationship expert and Tedx speaker Paula Quinsee. The three hour long event has a dual objective – to get kids investing, as well as to assist parents with the age-old relationship challenge – that of money, and managing household expenses and financial responsibilities.

Main is an author and award-winning businesswoman with a passion to change the face of education on the African continent through financial literacy education and training. Her Money Savvy workshops aim to infuse children, from a very young age, with the problem-solving and critical thinking skills they need to make financial decisions now and in the future. EasyEquities will also be on hand to assist with live investment demonstrations. As a subsidiary of JSE listed Purple Group Limited (PPE), the unique platform allows anyone to buy shares in the brands and companies they love for as little as R 5, with no monthly brokerage fees.

This formidable team, will, for the first time, be joined by Main’s business partner Paula Quinsee, a highly experienced life coach and author. As a consultant to South Africa’s television show ‘Married at first Sight’, Quinsee comes highly recommended and will be taking parents through one of the leading causes of marital and relationship stress – that of financial insecurity.

All members of the public are welcome to attend the workshop, however only 40 seats are available. Book your spot now to confirm your attendance – please visit

https://www.quicket.co.za/events/101627-money-smart-week-teen-and-parent-investing-workshop/

www.moneysavvykids.co.za

www.easyequities.co.za

#getsakidsinvesting

Ends

Issued on behalf of National Treasury and MSWSA 2020 by Creative Space Media.

 Leigh Callipolitis

083 264 6563 | leigh@creativespacemedia.co.za

Fourways resident Kathryn Main – FINALIST for Woman of Stature Awards

MEDIA RELEASE FOR NOMINEE DISTRIBUTION

Friday 7 November 2019, Johannesburg:

– And the Finalists are …

The eighty finalists of the 6th Woman of Stature Awards were announced on Saturday 2nd November at the launch of the Woman of Stature Foundation. The gala dinner will take place on Sunday, 08th March 2020 at the Indaba Hotel in Fourways, where eighty of South Africa’s most prominent women will be competing for one of twelve awards:

  • Woman in Community;
  • Entrepreneur of the Year;
  • Woman in Agriculture;
  • Woman in Education;
  • Woman in Engineering;
  • Woman Healthcare;
  • Woman in Finance;
  • Woman in Media;
  • Woman in Mining and Construction;
  • Woman in Technology;
  • Woman in Sport;
  • Youth Ambassador

This is the first time that the awards will be hosted by the newly formed Woman of Stature Foundation and proceeds raised from the awards will go the foundation. The mission is to be an intervention with preventative measures for women who find themselves in a sudden destitute situation so that they become independent and contribute to society.

Its annual Woman of the Year Awards are not limited to any particular field of endeavour, and for this reason rank among the most prestigious awards in South Africa for women.

Launched in April 2013, Woman of Stature’s purpose is to inspire and empower women from all walks of life.

Woman of Stature, Managing Director Charlotte du Plessis says, “The 80 finalists are each prominent within their respective communities and have reached considerable heights within their careers. They each reflect our values and focus at Woman of Stature, which is empowering other women whether through active mentorship, or just by setting the example for leading a purposeful life.”

Charlotte du Plessis received recognition as the founder of Woman of Stature when winning the Margaret Hirsch Women in Business Achievers Award Strubens Valley in 2016.

Kathryn Main a Education Finalist in the Woman of Stature Awards, says, “Thank you so much for the opportunity to participate in this Award. It is an honour to be selected as a finalist for such a prestigious award, and especially for such an empowering cause. It is indeed a cause dear to my heart and I am looking forward to making a difference in the lives of other women.”

The media partners and sponsors that have come on board thus far include; Indaba Hotel, Diageo, Nedbank, Wesbank, Hunter Group, Radio Pulpit, Radio Today, Jacaranda FM, Fourways Review, Real Women Real Life, NQ Nkosi Devine E Image, Upstage, Brett Herman Productions, Buddies For Life (Blog), AKA Africa Group, Bill Harrop’s Original Balloon Safaris, Seasons In Africa, Inspire Furniture.

“We look forward to a house packed with women and men alike to celebrate this iconic event – all for a good cause!” concludes Du Plessis.

Contact for bookings and further information: awards@womanofstature.co.za | Charlotte du Plessis 082 553 0061

Saving: Expectations versus Reality

By: Kgopotso Kgwedi

 “Money is only something you need in case you don’t die tomorrow” were the infamous words delivered with fervour by Carl Fox in the movie Wall Street. Money may not constitute all the happiness in your life as you know it but it certainly does go a long way in alleviating the burdens that come with keeping up a certain lifestyle and securing your future financial needs when you have retired.

The Expectations of Saving Money

In a perfect world saving is simple: spend what is left after saving. The answer to the crucial question “Why do we save?” and the expectations that come with it are as surely feasible as deciding to put away a sizable amount of your income in the recently opened savings account every month for the big three: a goal, emergencies and retirement. But the reality of saving will deviate from your imaginings all together and pose challenges that will require solutions that you might not have considered yet.

The Reality of Saving Money

  1. Re-Assess Your Financial Status (Twice)

Drawing up a concise plan of how you will spend your money sparingly in order to save for a rainy day is painless but sticking to said plan can prove difficult. Thoroughly going through your finances to assess where you stand will help you determine how you can start your saving journey.

Recording your every financial step will aid you in identifying areas you can cut down your spending without subjecting your family to a life of extreme cheapskates.  One thing to bear in mind while cutting down on your expenses to make room for your new saving habit is your lifestyle choices going forward. Adding “savings” in your “expenses” column wherein the recommended 10 – 15% of your salary is put away will help clearly show where your money is going.

  1. Set Financial Goals

Now that your lifestyle matches that of your current budget, financial goals need to be set. “What is it that I am saving for?” is the first question you will need to ask yourself.  Whether you are saving to afford your children’s university fees, pay lobola (dowry), buy a dream home, have a comfortable retirement, or simply preparing for unfortunate events like retrenchment, you need to give yourself a deadline for when you will achieve these financial goals.

Whether you are saving for a short- or long-term goal, you need to have a projected amount that you will need to save over the period of time you have set for yourself and stick to it. One way of doing this is to set scheduled monthly transfers to move money into a separate account just for those purposes.  Setting achievable short-term goals will assist you to be aware of how far you have come and how close to achieving your ultimate goal you are.

 

  1. Know Your Savings Options

Saving your cents and the occasional notes in a piggy bank hidden in the shoebox in your wardrobe at the ripe old age of 25 may work for some but it definitely does not work for most. The days of being classified as “unbanked” should be heavily reconsidered on your part. Opening an account specific to your saving goals while having the added bonus of being efficient and gaining interest over time is a benefit you cannot miss out on anymore. By doing so, you can use this one account to serve multiple purposes while subsequently setting aside money no matter what happens and, more importantly, be 80% less likely to dip into your financial reserves for reasons only detrimental to achieving your goals.

A flexi fixed deposit account will offer you an interest rate of 3 -7 % and the percentage is based on the amount of money that you save. If you are looking to save for a term of 5 years for example, a fixed account offers a rate of between 6 – 10 %. Once you’ve managed set up a monthly automatic transfer into the account you can decide to extend the savings period to suit your savings goals.

5 Tips to Financially Survive Janu-Worry

We all know the month of January is filled with countless unavoidable worries of the financial kind. Others may feel it more than others, but we all feel it non-the-less. We make lunch boxes for the first time in weeks, we carpool to work, and we stop buying coffee at that gourmet coffee shop on the way to work and instead make it ourselves. Basically, we go into level 1 of survival mode when it comes to our finances due to the crunch we feel. Here are 5 tips to get you to the next level of survival mode this Janu-worry.

  1. Know your credit rating

Your credit rating is like a meal ticket. If it’s good it will get you the best 3-course meal money can buy but if it’s bad, you can only get a single meal a day that is less than satisfactory. Your credit rating is information that lenders use when deciding if they want you as a customer. The higher your rating, the better your chances are at getting the financial assistance you need for all the important things in life. If you do not know what your credit rating is, there is no time like right now to get the information. By seeing your rating, you can see where you stand and recover if your rating is below par.

Find out what your credit rating is for free here: https://www.clearscore.co.za/

  1. Get your debt under control

When you are in a hole you need to stop digging. The same applies to your debt. Stop unnecessary spending. I did an interesting exercise recently and took 3 months’ worth of bank statements and highlighted my spending pattern. On average I was spending between R4000 – R6000 a month on frivolous spending with nothing to show for it.  Eating out, buying snacks from the petrol station, impulse purchases and retail outlets, overspending on my food budget etc. Take a high lighter and look at your spending. See how you can cut back on those unnecessary card swipes every time you go somewhere.

  1. Get on switching

‘Switching’ is the eighth wonder of the world, yet people never do it due to their loyalty (and because it takes forever to do). But you can cut down your expenses by hundreds of Rands when you actually stop being loyal to your current providers. A depressing fact is that companies typically give the best deals to new comers. Interestingly, the longer you are with a provider, the higher your premiums are likely to be. So, switch and not only get a cheaper deal, but a better one. Who doesn’t want car insurance, entertainment, or homeowner insurance for less? Review your insurance providers, cell phone providers, bank charges etc.

  1. Start building an emergency fund now!

The budget may be tight this month but that will change as the year progresses. Building an emergency fund as soon as you can afford it is imperative. Things can and do change in an instant, including your financial state. So, having a financial safety net is the only way you can solve the issue without getting into unexpected debt in 2020. Its never to late or to early to start saving. Even R100 a month to start with.

  1. Create a budget

December is a busy month of over-spending. From presents to holidays, the meaning of the word “budget” gets lost in the rush to have a good time. Money is tight but the family’s needs must be met. Knowing exactly how much is coming in and how much is going out is the best start to reduce your financial woes. All you need to do is get all your financial records together and see where you can cut back without affecting the family’s necessities “basket.” And remember to add “savings” in your expenses column.

Back To School

Whether you are seasoned veteran or a first timer, back-to-school is a stressful time for every parent. Getting back into the mode of things so soon after the festive season should be like clockwork, yet it seems the ringer malfunctions every new year.

Excessively worrying over whether your child will wake up on time in the morning or if you are ready to be separated from your baby on their first day of school is inevitable. Stationery and a new uniform for an ever-growing child are just two of the many staples on the budget list when prepping for back-to-school.  Yet one ‘must-have’ seems to be left out: Your child’s ability to be money savvy.

Either prescribed to you by the school or created from experience, the list of ‘must-haves’ to adequately equip your child for the coming year will have to take priority over all else. Financial education may not be included in the curriculum taught in schools nation-wide, but you can amend this for your child’s benefit.

Launching this year in schools across Gauteng and KwaZulu Natal Money Savvy Kids (MSK) is a financial literacy program for children as young as five. MSK is more than a product. It is a pathway to developing mind-sets that will ensure that South Africa’s children not only work their way out of poverty, but that they have the tools to stay out.

Equip you child with financial literacy skills by adding MSK in your back-to-school ‘must haves’ budget for the 2020 academic year.

Get us into your kids’ school now.

www.moneysavvykids.co.za

kathryn@moneysavvykids.co.za

079 370 0601

 

Budgeting: Expectations versus Reality

By: Kgopotso Kgwedi

 “Oh, my goodness, I really appreciate my parents.” These were the words that came to mind when I came to realise the amount of financial decisions my parents had to make daily to keep our family finances balanced.  I thought my parents were always telling us “No!” to everything we as children thought were necessities to live because they just did not like us much. It was only years later that I realised what we wanted was not in the budget.

My first year of university, I got a real bite of reality. I had to start budgeting for the first time in my life. It was then I truly saw the importance of learning financial literacy from a young age. Here I was in a new chapter of my life and I lacked the knowledge and skills I would need for the rest of my lifetime.  My expectations of what a budget was, and the reality were at odds and what a steep learning curve it was.

The Expectations

What I knew was that a budget is essentially an ever-evolving physical picture of what your money is doing. I gleaned that a budget reflects all the goals to be achieve over the short- and long-term periods. It comes with a lifetime guarantee and is the starting point to ultimately reaching financial freedom. The rule is simple: live within your means. Spending money you do not have on things you do not need will set you back months or even years because more and more of your income will have to go toward paying your ‘unexpected’ expenses or debt.  

The Execution

Abiding by the 50/30/20 rule was the obvious choice. It would help precisely guide how and where my money was going on a monthly basis. This rule works as follows: 50% of one’s income should go towards necessities like housing, bills and food; 30% towards paying off debt and growing one’s retirement fund; and 20% towards the financial goals set such as investing or going on that holiday of your dreams. It isn’t that complicated when you think about it but once you are out in the real world, it is no picnic.   

The Reality

There are so many distractions both on and offline that further aggravate our fear of missing out on that sale that will only come back around next year. The reality of it is that you must carefully choose what you should miss out on in order to afford the important things. Sometimes your budget will feel like that parent who always tells you what not to do with your money, but you need to remember why you are not impulse buying at every turn.

Keeping Track

Keeping track of your spending on a biweekly basis will help you see where you currently stand while giving you the chance to fix the numbers while you still can. Remember, a budget is essentially a physical picture of what your money is doing. You need to first know what the picture of your finances looks like for you to make the necessary changes needed to have the budget work for you. A budget leads to saving and investing and paying off debt faster. It may seem hard at first, but once you have the hang of it your budget can be the financial saviour you didn’t know you were searching for.