In our latest Money Bootcamp episode, myself and co-host Mapalo Makhu are joined by Nonhlanhla Bakasa, founder of AdoWord Multimedia, to discuss the reality of living with a disability.

Nonhlanhla has been a “wheelchair rider” since the age of 12 when she suffered a spinal injury in a car accident.

Nonhlanhla provides an honest and frank insight into the challenges she faces every day, not only with the physical reality of her disability but also the financial battle.

For example, a suitable wheelchair could cost anything from R10 000 to R100 000, and you might need to make costly alterations to your home to make it navigable.

Something as simple as finding transportation to work can become financially draining, because there’s no accessible public transport, and there are extra charges for a person with a wheelchair to take a taxi or an ehailing service.

Nonhlanhla’s story highlights how inadequate our social systems are in South Africa for those living with a disability.

Stian de Witt, certified financial planner® and executive head of Energy Financial Planning at NMG Benefits, also joins the conversation and shares his experience of clients who became disabled, and the costs involved.

He notes that some doctors charge up to 800% of medical aid rates for certain procedures, and then you have to deal with both the upfront costs of modifying your lifestyle to adapt to your new physical reality, as well as ongoing costs such as physical therapy and perhaps taking on a caregiver.

Stian offers some practical advice on how to find a balance between having protection in place to cover these costs, while at the same time not being over-insured.

The conversation also addresses the emotional toll of dealing with financial administration, including claiming from the road accident fund, medical schemes, and insurance companies, and the critical need for a supportive financial team.

Both Nonhlanhla and Stian advocate for building a support system, whether through friends, family, or financial professionals who have experience in guiding individuals through the complexities of financial planning and insurance claims.

For more resources and support on your financial journey, visit the Insure Your Future  Money Bootcamp website and explore the tools available to help you manage your money effectively.