Mmabatho is in her early 30s and lives in Limpopo, where she works as a town planner. Recently married, she and her husband have two children, aged four and two. Mmabatho has an older son from a previous relationship, who lives with them.
“I want to learn how to live in the present while saving for the future for the whole family. I am able to save for the kids’ education, but there is nothing left to take me through the month,” she says.
As a newlywed, Mmabatho acknowledges that she still manages her money as a single person and that she and her husband have not looked at their finances collectively.
The big dream:
“To take my family on a holiday along the coast, which I can pay cash for. My eldest son is already 14 and I want to have that family memory before he leaves home.”
Worst financial mistake:
“Taking out my pension fund when I changed jobs in 2010.”
Mmabatho admits that, today, she cannot even remember what she did with the money. Now she has less money in her retirement kitty.
Gerrit de Jong has been a financial adviser since 2005, although he has been in banking since 1981, when he joined Volkskas Bank. He helped Mmabatho draw up a proper budget and an asset and liability statement.
“If Mmabatho sticks to a strict budget, there is surplus money for saving about R2 000 per month. Our next step is to analyse her husband’s financial situation to ensure that Mmabatho and the kids are financially secure should something unexpected happen to him.”