Thursday, October 28, 2021

Palapye community to be tutored on personal financial planning

Personal finance refers to the financial management skills used by an individual to budget, save and spend economic resources over time, while taking into account possible financial risks and future life events. Planning personal finance considers the suitability of a banking product to an individual’s needs, checks savings and credit accounts, personal loans, investment private equity and insurance. In this day and era, many individuals still lack knowledge on how to neutralise their monthly financial costs. 

This has inspired Sheryl Ngozi, a young Palapye based Bachelor of Commerce graduate who specialises in Risk Management to help people in her community to make wise financial decisions so as to be financially free. 

Sheryl has come up with a seminar titled ‘Be in control. Financial education for all seminar’ which will be held in Palapye on April 9.
The seminar will mainly address issues of personal finance and wealth management.      

“For financial giants to rise, they have to be taught how to handle money and manage it while they are young. We have noticed that financial education is lacking in our communities. It has become essential for everyone, from the average labourer to a business owner, to learn how to balance their budget and ensure that they have adequate income when they retire,” she said.
While individuals are responsible for managing their own finances on a day to day basis-as they spend on education, food and entertainment-recent developments have made financial education and awareness increasingly important for financial well-being. 

At the seminar, participants will learn methods and techniques on how to manage their money efficiently and effectively as well as how to make their money work for them and not them working for their money for the rest of their lives. 

“This seminar will not only benefit the participants but also their families, communities, businesses, companies and the economy of Botswana at large.  It’s a practice oriented seminar that is designed to give information that can be applied in everyday financial life. There will also be a question and answer session where participants can ask the expert panel about financial issues,” said Sheryl.

The seminar will also feature in-depth analysis of personal financial planning, where attendants will be taught how to avoid costly expenses and reduce them, learn budgeting techniques, innovative but yet simple ways of saving, minimizing debt and possibly eliminating it, how to make wise investment choices and lastly learn how to maximize one’s assets to sustain future generations.

“This seminar is for anyone who knows that their financial status is not healthy and wants to change it; anyone whose business is not doing well because of financial illiteracy and everyone who is in debt and can’t seem to reduce it,” said Sheryl.

The seminar will be held on April 9 and will start from 14h00 until 18h00 at Cresta Botsalo Hotel.

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