This programme is sponsored by the Sanlam Foundation and is aimed at final year students to prepare them for the working world. In essence, these sessions give them a heads-up into the sometimes complicated world of money including answers the following:
- Getting to grips with the economic difficulties in South today, and in particular, the effect on young professionals future prospects in the job market.
- Introducing the concept of the “debt trap” - easily created and difficult to recover from. How to avoid it.
- Understanding your salary slip. What are the major deductions? Understanding the difference between a salary package pre- and post-deductions.
- Why it’s necessary to have a personal budget and on-going financial planning as you progress through life and your career.
- Understanding the basic financial implications of setting up home, renting or buying a property and car.
- Recognizing the financial implications of relationships like marriage, living together and having children.
- Understanding the need for insurance (long term and short term), along with how to prioritize the most essential forms of cover.
- Understanding the difference between saving and investing.
- Understanding the investment time horizon and its implications
- Introducing the various savings and investing options available in South Africa today, and identifying the pros and cons of each of these
The yearly seminar is presented independent speakers - one being the well-known columnist and financial speaker, Prof Matthew Lester from Rhodes Business School.