Secure your financial nest this Easter
Easter is upon us and again we find ourselves in a time for fresh starts and introspection about the things that really matter.However, did you realise that the custom of searching for Easter eggs may teach us a lot about handling our finances? Consider your financial objectives like valuables concealed behind Easter eggs. Knowing your financial goals is essential, whether they are saving for a down payment on a house, making retirement plans, or paying for your children's school. This is similar to searching for certain eggs during an Easter egg hunt.
Now, it makes sense to distribute your funds among several investments, much like you would when hunting for a variety of eggs. In this manner, you won't lose everything if one investment doesn't perform properly. It is comparable to having a variety of eggs in your basket.
After you've gathered your money "eggs," you have to look after them. This entails periodically reviewing your investments and making adjustments as necessary to maintain their growth.
Like the weather during Easter, life may be unpredictable. For this reason, it's critical to maintain an emergency fund—a sum of money set aside for unforeseen costs. It is similar to having an umbrella with you in case it rains.
Although making financial decisions can be difficult, you don't have to do it all by yourself. Seeking guidance from a financial adviser can be a wise decision, much like asking for assistance in finding Easter eggs.
Finally, as Easter is a time for giving, consider how you may use your financial resources to support others. Giving back may make your life happier and more meaningful, whether it takes the form of charitable donations, volunteer work, or imparting financial knowledge to others.
So, let's apply the financial lessons we learned from our egg hunts this Easter to make wise decisions. We can all benefit from a better financial future by having clear goals, diversifying our investments, and being ready for whatever comes up.
* Mignon du Preez, Group Marketing, Public Affairs and Sustainability Executive, Old Mutual Namibia
** Opinion pieces and letters by the public do not necessarily reflect the opinion of the editorial team. The editors reserve the right to abridge original texts. All newspapers of Namibia Media Holdings adhere to the Code of Ethics for Namibian Media, a code established jointly with the Media Ombudsman.