28thJan

Reflecting back on Coronation’s Financial Literacy

Financial decisions are integral to our everyday lives. We are following up on the 2018 Financial Literacy workshops held in Alexandra to see if what was learied has made any difference in the lives of the participants.

We meet with Elija Netshandama and his partner Katlego Kekana. The couple attended all the workshops, and today share with us how these workshops benefited them.

The couple says they have learned to prioritise and have passed this knowledge to their kids as well in the house. To cut certain costs and save money, Elijah bought himself a haircut clipper. Now he and his son cut their hair at home instead of both of going to the salon every week. Katlego on the other hand, only visits the salon to get her hair relaxed once in two months and she now plaits her daughter’s hair herself. This has helped to cut costs on hair in the family.

It’s tough to focus but we are trying, said the couple. For the first time, they managed to get through December. They say instead of buying Christmas clothes they bought school uniforms. They have also cut some items out from their grocery list and have moved a child from a private to a public school that is near to their home. This way they have cut monthly school fees and transport fare. It seems like a harsh decision, but after carefully reviewing their financial situation, they felt it had to be done.

Another issue the couple has looked at is their transport fare to go to and from work. With the recent decrease in petrol, they share their car, which is proving cheaper than using taxis. Should petrol increase, their plan is to park the car and use taxis. This is one thing they will keep on assessing, depending on petrol price.

Katlego has not yet planned for her retirement, but Elija is planning to have a catering business when he retires because he loves cooking. He is planning to slowly buy equipment now on lower prices especially when they are on sale. This way he can even start hiring the equipment out to boost their home income. The couple has an educational plan for their children with Old Mutual.

It’s the couples dream to move out of Alex, they say they want to buy a house and build a home for their family in a safe residential area. Now that they are able to achieve their long term goals and make healthy financial decisions, they believe that they will achieve their dreams for their family.

Another issue the couple has looked at is their transport fare to go to and from work. With the recent decrease in petrol, they share their car, which is proving cheaper than using taxis. Should petrol increase, their plan is to park the car and use taxis. This is one thing they will keep on assessing, depending on petrol price.

Katlego has not yet planned for her retirement, but Elija is planning to have a catering business when he retires because he loves cooking. He is planning to slowly buy equipment now on lower prices especially when they are on sale.

 This way he can even start hiring the equipment out to boost their home income. The couple has an educational plan for their children with Old Mutual.

It’s the couples dream to move out of Alex, they say they want to buy a house and build a home for their family in a safe residential area. Now that they are able to achieve their long term goals and make healthy financial decisions, they believe that they will achieve their dreams for their family.

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