by Sureshnie Rider, 5fm DJ
I was never financially savvy. It’s something I had to consciously learn a few years ago, after finding myself with just a few rands left over at the end of each month. Thankfully I’ve since become a little more educated on investing wisely and finding ways to save as much as I could afford for those little emergencies that pop up.
I was badly burnt by the Investment world 10 years ago, where l lost a lot of money due to a defunct savings policy. I had to come to terms with losing 10 years’ worth of my hard-earned savings. It was an experience that completely destroyed my confidence in taking out policies and investments. It was a wake-up call to ask more questions and do more research before simply signing on the dotted line. Safe to say these days I’m more financially aware of what works for me and what will not work to my best benefit.
Now I look more thoroughly at my investments, income and expenditure and ways to save effectively so there are more than a few rands left over. I’m happy to say I’m on a positive path where saving is concerned. And not just for a pair of shoes or a rainy day – I’ve learnt to budget for each month. One of my new habits involves “giving” myself R20 everyday as a treat and if I manage to not use that money, I’m R100 richer by the end of the week. It’s the little things that count. Being a parent has definitely changed the way I look at spending and money often has to be used for more important things than shoes.
My child is now five years old (going on to 16) and my husband and I started a little savings kitty for her when she was born. She collected money from family at traditional holidays, birthdays etc – all of which we immediately invested in a little education fund for her with Momentum. We realise how expensive education is – with private school fees ranging between R30 000 to R50 000 per year – we wanted to get a head start and every month we pay in a little extra to keep the fund growing.
Despite my previous bad invest experiences, I have found an amazing financial adviser. His number is saved as the first person to call if anything were to happen to my husband and I. We value him that much! From having a previous adviser who squandered my investment, I have moved to working with an adviser who takes the time to mould a financial plan that suits me best. The change in mindset is just fantastic and has made me view investments in a different light. I have been able to trust again. I would highly recommend any individual to find a financial adviser who is the perfect fit for them and to not be afraid to keep looking until they find them. There are far too many shysters out there! My new adviser is the sort of guy who will join me at work so as to better understand who I truly am. I’ve asked him to come and co-DJ with me soon!
- Sureshnie Rider is a presenter at 5FM and when not keeping a careful watch on her money, she's a self-proclaimed busy body who loves her family, a good pop tune and working for good causes as any true bleeding heart would. She also loves a good party and has an unhealthy obsession with Mariah Carey (tickets to concert already bought!).