Set up your loved ones for financial success

11 February 2021 | Opinion

Windhoek • Elzita Beukes
Valentine's Day is synonymous with the traditional exchange of cards, chocolates, gifts and sharing a candle-lit dinner with loved ones.
It not only signals appreciation and love for one another; but is also a life-long tradition that is celebrated in most parts of the world. Splurging on loved ones is great; but why not spoil your loved one with a gift that will put them in a better financial position.
Valentine's Day can be a costly affair and we tend to overspend to show our appreciation in a number of ways. The next few months, however, are set to be financially challenging for consumers due to the brunt of the pandemic with expected petrol price increases, increased cost of living and more job losses, we therefore encourage consumers to think differently and consider buying gifts that will have a lasting impact and benefit in the long-run.
We have also observed a common behavioural trend when consumers are faced with immense financial pressure they either skip insurance premiums for certain months or in some cases, will entirely cancel their policy and hope to take it up later when their financial situation improves.
The one key lesson that the Covid-19 pandemic has taught us is the importance of having adequate insurance cover. If you have loved ones who count on you for financial support, your priority this year should be to ensure that you keep or upgrade your insurance cover, to protect yourself and your family should the unfortunate happen.
A re-evaluation of our current budget and spending habits needs to take place sooner rather than later. This will help you identify and create financial habits that will better your quality of life in the long-term.
Make sure to also revisit your insurance policy. While cancelling an insurance policy may seem like the easiest option to relieve immediate financial pressure, you need to avoid losing all your premiums for short-term relief.
Look at investment products like a unit trust or the FNB Savings Pocket which will potentially help you reap returns. These are great vehicles that will help you and your loved ones start that savings journey. Not only will it help you improve your financial situation but could help set you up for the future.
Let's be honest. Chocolates, perfume or flowers are more appealing than an investment product, but the value and quality diminishes over time. Insurance and Investments are not seen as the most attractive or sought-after gifts, but investing in, and securing the financial stability of your loved ones is the best thing you can do to set them up for financial success in the long-term.
*Elzita Beukes is FNB's Communications Manager.

Similar News

 

Somehow intertwined, definitely unveiled

1 week ago - 15 April 2021 | Opinion

Windhoek • Natasja Beyleveld “To see a splendid kingdom fade away is far sadder than seeing a second-rate republic collapse.” (Translated from Japanese by Jay...

Digital Transformation and the Future: F = D +...

1 week ago - 13 April 2021 | Opinion

Windhoek • Sergio de SousaThe phrase ‘digital transformation’ has various definitions and perspectives. Regardless of the definition, it’s the intent behind the transformation that counts....

Inclusion more important than ever

1 week ago - 13 April 2021 | Opinion

Herman KatjiuonguaOur sense of belonging has taken a tremendous knock since Covid-19 reared its ugly head. We have been cut off from our daily lives,...

GIPF and member education

1 week ago - 12 April 2021 | Opinion

Windhoek • Amos KambondeSince March 2020, thousands of GIPF members were affected by the lockdown due to Covid-19.On an annual basis, GIPF implements a robust...

The dollar-rand peg: Time to decouple?

3 weeks ago - 30 March 2021 | Opinion

Windhoek • Carel Jordaan, RMB TraderNamibia’s sophisticated and liquid foreign exchange market plays a crucial role in its economy. Notwithstanding the country’s size, we have...

Sport creates equality – and it starts at school...

1 month - 16 March 2021 | Opinion

Windhoek • Jacobina Tangi UushonaThe month of March is when we celebrate International Women’s Day. But frankly, getting one day in March is not enough...

The Privacy Guide: Simple tools to keep you better...

1 month - 12 March 2021 | Opinion

Matthew Stern WhatsApp did a great job of awakening the user privacy and security debate earlier in the year, with their controversial privacy policy which...

The impact of Covid-19 on women

1 month - 07 March 2021 | Opinion

Windhoek • Sepo HaihamboAt the core of its purpose, commemorating International Women’s Day is aimed at celebrating women’s accomplishments as well as to honour their...

Don’t just acknowledge…celebrate women in IT

1 month - 05 March 2021 | Opinion

Windhoek • Ilana ErasmusMarch 8th is International Women’s Day – the one day in a year that women, their accomplishments and contributions to life, society...

‘NEEEB will do more harm than good’ – Team...

1 month - 02 March 2021 | Opinion

Windhoek • Pieter van NiekerkAdding its voice of concern to those of other industry and private-sector players, Team Namibia calls the latest National Equitable Economic...

Latest News

Family’s battle to reunite continues...

19 hours ago | Justice

Windhoek • [email protected]n.comThe Namibian High Commission in Pretoria on Tuesday briefly shut the door to Namibian Phillip Lühl after he tried to submit a formal...

Campaigning for counselling

21 hours ago | Crime

Members of Parliament (MPs) have proposed compulsory counselling and psychological support for victims, perpetrators or anyone exposed to gender-based violence to end the cycle of...

Whistleblower Stefánsson scoops WIN WIN...

22 hours ago | Justice

This year’s winner of the WIN WIN Gothenburg Sustainability Award is the Icelandic whistleblower Jóhannes Stefánsson, who led the revelation of a widespread corruption scandal...

Sewing machines, fabric for NCS

1 day - 21 April 2021 | Business

Mulungushi Textiles & Importers recently donated overlock sewing machines and fabrics worth around N$100 000 to the Namibian Correctional Services. The Khomas & Hardap regions...

Is your agent making use...

1 day - 21 April 2021 | Life Style

The way we live and work has been dramatically altered by the pandemic. It follows then that the way people buy and sell houses will...

Multi-million mask deal goes sour

1 day - 20 April 2021 | Crime

Windhoek • [email protected] Chinese owned tobacco company are suing to reclaim more than N$6 million they say was lost when a deal to buy 440...

Seeing the future

1 day - 20 April 2021 | Social Issues

Tanja Wilckens of Pro-Specs and Marlize Hall of African Eyes Optometrist donated their time to performing eye-screenings on 53 learners of N/a’an ku sê Primary...

Learners master German

1 day - 20 April 2021 | Education

The German ambassador to Namibia Herbert Beck, Deutsche Höhere Privatschule Windhoek (DHPS) Principal Kristin Eichholz and teachers involved in teaching German as a foreign language,...

Moet geliefs nie gryswater in...

1 day - 20 April 2021 | Environment

Dink twee keer voordat jy jou tuin natlei met die gryswater afkomstig van jou wasmasjien: Dis nie goed vir die einste grond waarin plante moet...

Load More