At GIB, our clients, are driven by a desire to protect the ones they love and to make sure they are looked after financially.

Looking after your loved one’s financial future is a task you shouldn’t take lightly. You never know what unforeseen events can take place. It’s better to put protective measures in place today rather than tomorrow.

Today, we will be sharing six steps on how to help you achieve this.

STEP 1: WRITE A WILL

Give your loved ones peace of mind that your assets will go to the right people. There is no such thing as “common law partners” which means a partner might not be entitled to anything of yours, even if you live together, unless you are married or in a civil partnership. Plus, did you know that orphaned children can end up in the care system if you don’t nominate a guardian for them in your Will?

STEP 2: HAVE AN HONEST AND REALISTIC BUDGET

Be honest with yourself and your family, financial planning is reliant upon an HONEST/Realistic budget, this is easier when one has a bank statement on hand to ensure you are aware of real spending, here priorities need to be established on what is important and what's not.

STEP 3: SET UP AN EMERGENCY FUND

Emergency funds are often a neglected aspect in many financial plans, but they are highly important as they are your first point of protection for your family when a unexpected event occurs.

STEP 4: SAY "NO" SO THAT YOU CAN SAVE

We tend to always want to say yes to everyone and everything but its important to say NO to unaffordable or unneeded purchases. This allows space for extra savings in our budget. Saying NO can be an educational moment as it teaches our family to save for the long term.

STEP 5: EMBRACE INSURANCE AND MEDICAL AID

Embrace insurance and medical aid, this should be an essential to you and your budget. Insurance and medical aid protects yourself and your family against any event that may impact your financial state.

STEP 6: START INVESTING

Invest for you and your family’s future. For success in any investment goal, it is essential that we set realistic goals and start saving early as possible, time can be your friend or your enemy.

YOU DON’T NEED TO TAKE THIS JOURNEY ALONE, WE ARE HERE TO TAKE IT WITH YOU.

CONTACT A FINANCIAL PLANNER BELOW: