The FPI National Financial Planning Week to lead SA consumers to a better financial life

At the recent consumer forum held in November at Gallagher convention, Minister in the Presidency, Trevor Manuel spoke about South Africa being a nation of highly indebted families. There are 18.84 million credit active people in South Africa. About 8.8 million of the 18.84 million were described as having impaired credit. This is all as a result of spending money we have not earned yet and spent it on goods that we don’t need. South Africa has a low savings rate and so people borrow money at emergency rates.

As people become increasingly cognisant of how their current financial positioning affects their future financial standard of living, the importance of financial planning is becoming evident now more than ever. According to the YouGov professional research and consulting organisation, over 35% of individuals between the ages of 30 and 55 have considered financial planning advice to conquer and avoid various financial issues that currently have consumers drowning in debt. To further discuss overcoming such financial issues, the Financial Planning Institute of Southern Africa (FPI) will be celebrating the National Financial Planning Week from 26 November to 2 December 2011 by introducing a consumer educational campaign.

Gerhardt Meyer, Chairperson of the FPI added, “The campaign is aimed at educating consumers about dealing with a professional financial planner and getting trusted advice. It will also help consumers discover the value of financial planning and to make smart financial decisions to achieve their dreams and life goals.”

To celebrate this week, FPI will host consumers at a Consumer Clinic, supported by the South African Savings Institute (SASI) as part of their Festive Seasons Campaign initiative.

The opportunity will afford consumers to get free financial planning advice and guidance from highly-qualified Certified Financial Planner® professionals, all volunteering their time and expertise. They will meet with consumers in the form of exhibitions to answer their questions about getting out of debt, retirement planning, investment strategies, income taxes, insurance, bonds, among many other topics. The advice will be offered free of charge.

The Consumer Clinic will be held on Wednesday, 30 November 2011 from 17h00-22h00 at the Randpark Club, Randpark, free of charge.

To participate, please visit the FPI website at www.fpi.co.za to register online or by calling 086 1000 374. Walk-ins are also welcome.