What kind of financial role-model are you?
Written by Jolandie Strydom (Young Entrepreneurs)
As a parent you are the first and most important role model for your kids. The best way to raise money-smart kids is to be money smart yourself and to be able to explore the topic on money more easily with your kids since you know how money works.
It is a good idea to think about what kind of role model you are for your kids. Do you spend money impulsively or are you cautious and intentional about your spending? Do you save up for a big purchase or do you buy what you want when you want it, charge it to your credit card and worry about it later? Do you pay your bills on time and keep organised files or do you throw unopened bills on top of the fridge and ignore them?
Values are the things in your life that are most important to you, that you are willing to take a stand for. Some people value education, achievement, prestige or wealth. Others value security, family, friendship or adventure. The way you spend your money and deal with your finances says a lot about your values. Do you know what your top five values are?
The values you pass on to your kids will help them prioritise their spending and set meaningful and compelling goals for themselves. The combination of solid values and strong money management skills create a good foundation for making sound financial and life decisions.
Latest…
General, Lifestyle
Showing off on show day
Although many prospective buyers test the market online these days, most want to physically visit and experience a property before making one of the biggest investment decisions of their lives. This means that show houses are just as important as ever, says Tyson Properties CEO,...
Read MoreGeneral, Lifestyle
An expert guide to purchasing property from a deceased estate
Purchasing a property from a deceased estate is no ordinary property transaction. While there might be a great opportunity to buy a home at an attractive price, it’s essential to understand the complexities involved, including the possibility of prolonged waiting periods, says Andrea Tucker, Director...
Read MoreGeneral, Lifestyle
How financial institutions can assist with easing the burden of bond repayments
Purchasing a home is a significant financial commitment that requires careful planning and long-term dedication. When taking out a bond or mortgage, potential homeowners agree to repay the borrowed amount with interest over a specific period. Managing bond repayments is crucial for maintaining a good...
Read MoreGeneral, Lifestyle
Designing the ultimate backyard entertainment area
Summertime is synonymous with outdoor gatherings, garden parties and the national South African pastime, the ubiquitous braai and creating the ultimate backyard space for these occasions not only enhances your enjoyment of your home, but also its value. “We’re blessed with the perfect climate for outdoor...
Read MoreGeneral, Lifestyle
Experts unpack residential rental challenges
While the demand for residential rentals in South Africa is rising, so is the number of defaulting tenants. The depressed economy, interest rate hikes, and the pandemic’s lingering impact on jobs and income, are contributing to an increasing number of South Africans failing to pay...
Read MoreGeneral, Lifestyle
How load shedding is impacting the property market in South Africa
Load shedding continues to significantly reshape the attitudes of homeowners, and the expectations of buyers and sellers, in the South African property market. This is according to Renier Kriek, Managing Director at Sentinel Homes. “Enjoying one’s home to the greatest extent possible during blackouts and...
Read More
No Comments