Noble B-BBEE Advisory has partnered with Sasfin to bring Financial Literacy education direct to you where ever you would like to access it. In this first series in the Financial Literacy programme, we give you an overview of Financial Planning and what this involves. The financial health series will look to empower individuals to look into their finances, complete a financial wealth check and implement guidelines into improving one’s financial health. With the Covid 19 pandemic, many individuals saw themselves losing jobs, sources of income and general decline of financial health. Our series will assist individuals to improve their financial literacy and in turn improve their financial well-being.
Episode one is all about assessing your financial state and how to track your spending. In episode two we highlight what is important when setting your financial goals. In the third episode we outline what is involved with creating a budget that is in line with your financial planning goals. All video content is in line with GN 500 regulations gazette by Financial Sector Transformation Council.
Financial planning is the process of identifying the steps and resources required to accomplish one’s life goals. These goals are split into short, medium and long-term goals. Financial goals are the priorities and targets you set for how you want to spend and save your money. These are determined by the different lifestyles that people have and can never be the same from one person to another. Goals will differ in the length of time needed to achieve them. In financial planning we also focus on budgeting, the purpose of a budget is to plan, organize, track, and improve your financial situation. In other words, from controlling your spending to consistently saving and investing a portion of your income, a budget helps you stay on course in pursuit of your long-term financial goals.
It is so important to ensure that you have a financial literacy understanding as it will mean the difference from living from paycheck to paycheck, being able to afford the things that you want and need and build wealth that works for you. It gives you the tools to manage your money more effectively.
Noble B-BBEE Advisory has worked with Sasfin Holdings and Sasfin Asset Managers from 2018 to date as the facilitators of Consumer Financial Education across four programmes. Noble is a black owned and black female managed business who have passion for true and reflective transformation in the South African communities.