MIND MY MONEY, COVID –19 AND MY FINANCES

By Emily Setona

QWAQWA – Money matters are a very important issue to discuss during this Covid – 19 pandemic era. Youth in Action (YIA) organisation Free State has been running a programme that offers financial literacy education to residents of Thabo Mofuthsayana District.

Mr. Jackie Jacobs the programme manager for Youth in Action’s financial literacy programme sponsored by Liberty says that their organisation is focused on social development and growth. “Our people need to be informed about good financial practices,” says Mr. Jacobs.  The training covers Liberty’s consumer financial education that focuses on the importance of; needs and wants, spending, losing and making money, saving money as well as managing credit and risk.

The programme facilitator and trainer Mr. Julius Nthoba emphasized the importance of being always ready for any financial situation. “It is very important for people to set a monthly budget that records their income and expenditure. A budget helps individuals to better manage their finances and to plan ahead,” says Mr. Nthoba. Attendants participated in a vigorous discussion about their personal financial habits that revealed that most of the attendants were not aware that banks and insurers are offering payment and premium relief to their clients during the Covid –19 pandemic.

Mr Paul Mosoeu community leader and member of political party MAP16 said, “I am very concerned about my community’s well- being when it comes to their financial practices that is why I invited YIA to assist me to give my community of Riverside some financial literacy education”.

Mr. Ntoba advised consumers to contact their financial advisor during these tough times to find out what forms of relief do they offer when a person is struggling to pay their bills. Those who were in attendance received a certificate of attendance, for their participation in this short financial training course.   When it comes to their finances consumers need to plan ahead and plan smarter. Talking to a financial advisor and inquiring about relief options can prove to be the assistance that a person may need in order to cope with financial difficulties during this Covid -19 pandemic. Most insurers such as Liberty are offering their clients forms of premium relief.