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The benefits of a TFSA

Our country has been said to have one of the lowest household savings rates globally. At SFP, we know the benefit of saving for the long-term and building this as a monthly habit rather than a big end goal. One of the challenges with saving towards a large amount of money (for retirement or financial independence) is that we focus on the end goal and feel like it’s too big, and it becomes a hurdle to […]

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Four ways to measure your fortune

We often don’t worry about something until we realise that it’s limited. If we have lots of something, it’s a fortune. If we don’t, it can become a focus of concern and anxiety.  Young children generally don’t worry about much if their needs are met. With access to their parents’ love, attention and confidence, children have much of the social affirmation they need. When school starts and they are placed in a room with lots of […]

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The best time to live

“Remember the past, plan for the future, but live for today, because yesterday is gone and tomorrow may never come.” The best time to live is in the present. It’s easy to get lost in a daydream of how life could have been different or how good life used to be. It’s equally easy to succumb to the speculative dreaming of what might happen in the future. Believing in a better future is hope, and being […]

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Financial planning for your parents

It’s easy to think that our introduction to financial planning happens when we sit down to our first meeting with our financial planner, but in reality, it begins from the very first time we watch the adults around us pay for things. From standing in the check-out queue when we were only two bricks and a ticky high to the tooth fairy and our weekly allowance, our parents and other guardians shaped our early financial thinking […]

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Catastrophising and how to manage it

Have you ever gone down a rabbit hole on social media? You know, that moment when you see something triggering and you click on it, and then scroll down through the comments, becoming wholly engrossed in a conversation that turns out to be a waste of time and emotional energy. While we’re in that moment, we’re often completely unaware of how it’s affecting us. Catastrophising is a little like that. We can all be affected by […]

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Ask yourself these questions BEFORE switching funds

As financial planning conversations deepen and explore more value, we find ourselves moving from the empirical to the emotional, from processes to perceptions and from products to people. It’s an enlightening journey that takes us away from numbers and allows us to reflect and reconstruct our future planning approach. But, it’s also extremely challenging as we find questions we can’t easily answer; but, that’s still healthier than having answers we can’t question! This point of reflection […]

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Tracking triggers change

For many, talking about budgeting is worse than a trip to the dentist! But, as any health and wellness programme will remind us when we’re aware of what’s going on with our health, we can begin to do something positive about it. When it comes to our wealth – the same rings true! Tracking how money flows in and out of our lives is a powerful way to decide how we will choose to direct that […]

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How much do you need?

One of the hardest questions to answer when it comes to financial planning is: How much do I need? There are two ways we can look at this. Either, I believe that my external circumstances will eventually reach a point where I have earned enough, and I’ll finally feel that I have enough. Or, I will come to the realisation that my wants and needs are based on my own personal perceptions. It’s also difficult because […]

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Making goals easier to achieve

“If I had a penny for every time I put something off until tomorrow, and never got to it… I’d put them all in a sock and hit myself with it.” Unknown In our digital age, it has become increasingly easy to create lists of things to do and remember. We can just call out “Alexa!” or “Hey Siri!” and add to a virtual reminder list that, for the most part, just adds more stress and […]

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Emigration – some key thoughts

Should I stay, or should I go? It’s a great song from The Clash, and it’s also a phrase that so many of us in South Africa grapple with at least every few years. When it comes to our money, it’s less about if we’re going or not and more about if we’re planning to return. For some people, the trip overseas is only for a season, as they want to cash in on a great […]

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