Having financial freedom does not only apply to rich people. Even if you are a low-income earner, you can make better financial decisions and ultimately reduce your stress levels. While many people set their goals for the year, Vuk’uzenzele spoke to financial coach, co-founder and chief executive officer of Financial Journey, Rose Nkabinde, about practical ways that people can use to achieve financial wellness.
Financial Journey is a financial health and wellness company that provides tangible solutions that are value-based and results-driven. Sharing a few tips, Nkabinde advised starting by setting clear financial goals. “Having a goal can motivate you. What do you want your money to do for you? Break down big goals into smaller, achievable steps. Track your income and expenses, even if it’s just writing in a notebook,” Nkabinde explained.
She added that it is crucial to identify areas where you can reduce unnecessary spending or find cheaper alternatives.
“Look for opportunities to increase your income so you can do more with your own money, perhaps a side hustle. Be kind to yourself. Don't beat yourself up if you overspend or miss a savings goal. Learn from mistakes and keep moving forward,” she said. Furthermore, she advised managing your money in a way that will allow you the freedom to choose your job, where you live, the healthcare you want, how much you support your loved ones, and where you want to travel to, among other things. “Make choices now that will allow that kind of future for you and your children,” she said.
Nkabinde co-founded the company with four other young South African entrepreneurs in 2008, on a mission to improve financial literacy, which led to the founding of Financial Journey in 2013. She said the main aim of the company is to make financial guidance accessible and fashionable. Although the company has never received any funding from the government, it has committed to nurturing talent by annually taking in 10 to 20 interns through the Banking Sector Education and Training Authority, offering work experience and skills development.
To find out more information about Financial Journey, visit:
www.financialjourney.co.za
Call: 011 2342435
WhatsApp (text): +27 61 503 2242
Email:
info@financialjourney.co.za
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