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Spring ushers in fresh energy to revive and rejuvenate every aspect of our lives – from updating our wardrobes and spring cleaning our spaces, to reorganizing and revitalizing our plans and goals. It is also a great time to revisit your finances and inject new life into your financial goals with our 5 R Challenge this month.

The 5 Rs 

  1. Resolve – ‘Resolve’ means deciding firmly on a course of action. It refers to having a firm determination to do something, regardless of the challenges.
    Financial resolve means you have firmly decided to improve your finances and to do what needs to be done to achieve this, no matter what. It means you are disciplined and committed to consistently taking the actions necessary to achieve financial security.
  2. Reorder – Get your finances and financial paperwork in order. Get organized by collating your financial information and documents and making a list of any important documents that are missing or outdated, such as your will or beneficiary nomination forms.
  3. Recover – Over the last two years, economic conditions have been negatively impacted by Covid-19, exposing all of us to financial setbacks and challenges. Recovering from these financial difficulties by implementing financial recovery strategies is crucial for getting back on track with your goals.
  4. Re-energize – With many of us simply focused on financial survival during Covid-19, we have been saving less than what is necessary. The reality is that there has never been a more crucial time to save diligently than now.
  5. Reach out – You are not alone! Help is at hand from a team of professionals who are ready to assist you.

Now that you know what the 5 R’s are and what they entail, get ready to join us for the month’s challenge!

The Challenge: Revive Your Finances in 5 Steps

Reach out to your financial coach who always ready to help with friendly and professional assistance in every aspect of your financial situation!

Create a file for all your financial documents – with September being National Wills Month, a valid and updated will is a great place to start. Followed by your bank statements, insurance policies and statements from loans and store accounts. Use a spreadsheet or an app to keep a tight record of your expenses and debt.

Evaluate your current financial situation, develop a financial recovery plan then implement your plan and repeat.

Make a commitment and pay yourself first, save up for an emergency fund and retirement. Even if you restart your savings with just R100

Reach out to your financial coach who always ready to help with friendly and professional assistance in every aspect of your financial situation!

You can do it! For amazing support every step of the way as you revive your finances this Spring and put yourself back on track to meet your financial goals, simply click here .