Based on research conducted by Unisa, the average South African does not have a clear understanding of their financial situation and how to plan effectively for today – let alone the future. 

Where do you start?

To prepare for your future, you will need to find a way that you can manage your finances to achieve your life goals. This is done by having appropriate budgeting, savings and risk protection frameworks in place, with clear objectives and a plan of how to achieve them. Your financial plan is the starting point of your journey to success. It guides you to identify the gaps in your finances and helps you to prioritise your goals. Once you’ve identified your goals, you can implement your financial plan. We’ll track your progress together and make adjustments where needed, ensuring that you achieve your goals within the time frame that you chose.

Why should you have a financial plan?

⦁ It provides direction for your goals/dreams

⦁ It helps you to plan your budget and behave in a more financially responsible manner

⦁ It makes you more disciplined towards money and to stay out of debt

⦁ By planning your finances, it helps you to plan for the future


What should be included in your financial plan?

It is all about financial wellness, so for peace of mind, your financial plan should include the following components:

Plans to build your future i.e:

◦◦ Provision for retirement

◦◦ Provision for future and emergency savings

◦◦ How to create wealth for your future

◦◦ And how to plan for your family and business continuity

Plans to protect you against risks such as:

◦◦ Major illnesses

◦◦ Disability

◦◦ Loss of income

◦◦ Medical expenses

Plans to support your family against:

◦◦ Medical expenses

◦◦ Death without an executable will

◦◦ If you die prematurely 

◦◦ Education provision for your children

Plans to protect your assets:

◦◦ Protection for your home content, vehicles, buildings and moveable property.


 In today’s world of tech and google, it is easy to be convinced you can go-it-alone when it comes to financial planning. However, with the lack of time and the information-overloaded, it is highly recommended that you consider engaging the services of a professional advisor to assist you in your financial planning, and to guide you on your journey to financial wellness.

Guest Post by Jody Fabre Financial Advisor