How to manage finances wisely
The Financial Management programme was meant to empower delegates with skills and knowledge of how to manage their finances effectively and efficiently.
Liberty and PM Skillshouse held a joint financial management programme at the Witpoortjie Library on Tuesday, 16 April.
Roodepoort residents listened to a helpful lecture on how to manage their finances wisely and get to know how to differentiate between needs and wants when planning their budgets.
The main objective of the programme was to empower delegates with the skills and knowledge to manage their finances effectively and efficiently, including breaking the vicious cycle of generational poverty.
The subjects that the programme focused on were:
• Wants and needs, where the delegates were taught how to prioritise needs over wants.
• Financial goals including short-term goals that take under one year to achieve. Examples may include taking a vacation, buying a new refrigerator or paying off a specific debt. Long-term financial goals may take several years to accomplish and, as a result, require longer commitments and often more money.
• Credit management, with the delegates being enlightened on how to manage their credit in a way that will prevent them from becoming stuck in debt.
• How to identify business opportunities in the community by looking at the needs of the community.
Fana Patrick, Training Consultant said, “I make my delegates aware of the talents that God has given them. They can develop their lives using the talents that they have and also take themselves out of poverty, regardless of the level of education they have. These programmes teach delegates to prepare for unforeseen circumstances, and also encourage the youth to start saving now with the little that they have.”
