So often we meet clients who tell us that they cannot afford to save because ‘school fees are really expensive’ and ‘looking after family members is derailing their savings goal’….and the list of reasons is endless. If we are really honest, life has changed dramatically in the past year and a bit. Things are not as black and white as they have been, and we cannot continue living as if death and financial insecurity is not […]
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Women, do something for yourself for a change
Women are known to think more of and do more for others than themselves, in the process sacrificing their careers, money and general wellbeing. In this women’s month, think about this: There is a very high likelihood that you, as a woman, will have to parent alone, will not save enough money to cater for your needs and will ultimately die poor and alone. Study upon study shows the odds are stacked against women. According to […]
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How to keep your business on a sustainable financial path
As an entrepreneur, I know how difficult it can be to manage your finances effectively. Often the lines between personal and business funds are blurred, particularly in the beginning when you’re trying to establish your business as an independent and self-sustaining entity. The Seed Academy, an entrepreneur support programme, found in its latest “State of Entrepreneurship” survey that 60% of the surveyed entrepreneurs were full-time entrepreneurs and that the majority (88%) were self-funded. Self-funded entrepreneurs, who […]
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Investing in happiness
The beginning of a new year is a time for reflection, planning and new beginnings for many. Many personal finance writers have been giving extensive and very valuable tips regarding budgeting, saving and investing to kick-start the year. These are important lessons to learn and not having money is devastating on many levels. It is, however, equally important to note that money cannot give you all the happiness you require. Jonathan Clements, an acclaimed personal finance […]
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When bigger isn’t necessarily better
My mother is considering down-scaling her home as it’s becoming too big and impractical for her to keep. This poses quite an interesting challenge – she loves to entertain and will now be giving up a big yard and a few bedrooms which have allowed her to do what she loves over the years. She’s approaching this very practically and with little emotions which is so admirable. During our conversation about her imminent downscale, I tried […]
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The effect of your emotions
“DALBAR’s Quantitative Analysis of Investor Behaviour Study (“QAIB”) has been analysing investor returns since 1994 and has consistently found that the average investor earns much less than market indices would suggest. “ This has everything to do with emotions – investors, with the best of intentions are their own worst enemies when it comes to managing money. they get excited when the markets are positive, greed kicks in and there is an expectation that markets will […]
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Goal setting
In the past two blog posts, we dealt with budgeting and risk-profiling – two very important initial steps to take when formulating a financial plan. Goal setting is the third vital step. During this process, it’s important to figure out what you need and what you want and to prioritize the former over the latter. Often, the lines are blurred, and clients need to be reminded of the difference. ‘I need that sports car’, a client […]
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Start anew
Most people would agree that spring is the best time of year. Temperatures are moderate, it rains, and the greenery starts growing back everywhere – nature’s own ‘restart button’. It’s my favourite time of the year and I know many people who feel the same way. Psychologically, it would be a lot easier for you to get started on spring cleaning your finances – if you feel good, are more energetic and inspired, it could be […]
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Women and risk
Women are accumulating less funds in their lifetime and many are retiring financially insecure, as compared to their male counterparts. A major contributor to this is low levels of financial literacy which has a negative impact risk perception. Risk perception refers to how an individual makes a personal judgement about the likelihood of a negative outcome. This extract from The Influence of financial literacy and risk perception on investment on choice of investment by Aren et […]
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Longevity advantage in women
Humans are living longer than ever before. Globally, even though there may be some differences in longevity statistics between countries, women are living longer than men, and this has been the trend since the 20th century. This report by Our World in Data states the following: ‘Males tend to have more fat surrounding the organs whereas women tend to have more fat sitting directly under the skin. This difference is determined both by oestrogen and the […]
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