When it comes to offers of credit, everyone is a target, regardless of where you’re positioned on the income scale. Whether you’re a CEO of a large corporate, an unskilled labourer, or taking your first step on the corporate ladder, the credit providers will invariably come knocking on your door. So says Barry O’Mahony, founder of Veritas Wealth, who adds: “We all need to look at breaking debt cycles and developing good savings habits.”
As part of Financial Planning Week in conjunction with the Financial Planning Institute of Southern Africa, Veritas Wealth along with other financial planning practices will be hosting workshops in Cape Town on the 8th and 10th of September.
On Tuesday 8 September there will be two workshops (Southern and Northern suburbs), hosted by Gavin van Dyk (Fiscal Private Clients) and Paul Rossouw (Old Mutual). These workshops will offer valuable financial guidance to 20-to-35 year-olds on ‘Getting You on the Right Track’. There will also be a number of certified financial planner® professionals present at the workshops to answer any questions and provide further guidance.
“Your 20s are the time when you should be developing good financial and savings habits that will set you up for life, but with the minefield of materialistic temptations young adults face daily, those early years of ‘delayed gratification’ often pass them by,” says O’Mahony. “If you don’t practise good financial habits from the beginning, you may easily find yourself caught in a debt trap or no-savings situation by the time you reach 50.”
On Thursday 10 September, Craig Torr of Crue Consulting will be presenting a workshop which is specifically geared toward domestic workers and gardeners. Here Torr will talk about struggling with debt and loan sharks, getting by on your salary and developing good financial habits.
In Torr’s experience, people in the lower-income sector like domestic workers and gardeners are easy prey for creditors. These people often face a barrage of consumerism and are also often supporting extended families. With modest incomes and no form of financial planning, it can prove extremely challenging for them to get ahead.
“The workshop offered to domestic workers and gardeners is also of particular value to their employers who can greatly assist their employees in navigating their way through effective financial planning and help them to develop good financial habits. With this in mind we urge employers to also stay and attend this workshop with their staff,” says O’Mahony.
Financial Planning Week is a national initiative of the Financial Planning Institute of Southern Africa, during which certified financial planner® professionals give of their time to help set South Africans on the right financial path.
Workshop details
Tuesday 8 September
These workshops have been tailored specifically for people between the ages of 20 & 35 and will allow them the opportunity to discuss their specific needs with a certified financial planner® professional. Entrance is free and snacks will be provided.
Southern Suburbs
Venue: Allan Gray Auditorium, 1 Silo Square, V&A Waterfront
Time: 6-7pm
Host: Gavin van Dyk, certified financial planner® professional
Northern Suburbs
Venue: Durbanville Conference Centre in Durbanville.
Time: 6-7pm
Host: Paul Rossouw, certified financial planner® professional
Thursday 10 September
This workshop has been tailored specifically towards domestic workers and/or gardeners and will allow them the opportunity to discuss their specific needs with a certified financial planner® professional. Entrance is free and snacks will be provided. Employers are encouraged to attend as well, as it will help them understand the specific problems faced by their staff and equip them to help their staff when it comes to financial planning.
Venue: Claremont Hall, Bath Road, Claremont
Time: 4-5.30pm
Host: Craig Torr, certified financial planner® professional
For more information and to reserve a spot at these workshops contact Nicola on 021 671 0799 or email reception@veritaswealth.co.za
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