Use this breath of fresh air to strengthen your personal financial balance sheet.
Tito Mboweni’s announcement on Tuesday 24/03/2009 that interest rates will be reduced by 100 bps came at just the right time for most people. On a million rand bond, your payments are roughly R700 / month less. So since the December 2008 rate cut, interest rates are down 2.5%. On a million rand bond, that is roughly R1750 / month.

The question now is, what are you doing with this saving? Are you like the herd and using it to satisfy your immediate worldly desires that you have been deprived of over the last two years, or are you being smart and putting it to good use.

First thing to do, would be to settle all that credit card debt and start to build up an emergency fund of at least 3 times net salary. Put it into something accessible like a money market fund, or into your credit card, some offer good interest on positive balances.

Secondly, revisit the financial plan your broker left with you the last time you met, or have him update it if your circumstances have changed. Start to implement the recommendations that were made.

If you have never had a financial plan prepared for you, please go to the “contact us” section on the website and fill in your details, and we will contact you to explain the process.

Our Value proposition is the ability to provide a holistic financial plan for you, taking into consideration your personal and financial goals and objectives. We believe in the building of long-term relationships, with yourself, your family and any of the other professional advisors who may be servicing you.

Our Financial planning process consists of the following:

•    Identification of your financial goals and objectives.
•    Collection of relevant information.
•    Analysis of your current financial situation.
•    Development of a full financial plan, together with options and recommendations
•    Implementation of agreed recommendations
•    A regular review of the financial plan either bi-annually, annually or as the circumstances require.