14 FNB gurus share 14 financial resolutions to kick-start 2014
Janu-worry is finally nearing an end and whilst most resolutions such as getting back into shape have already kicked in, you may have to wait for your January salary to get going on your New Year financial resolutions.
Although it might feel like doom and gloom after the season of splurge, getting your financial house in order does not have to be complicated.
14 FNB gurus across various areas of banking have shared financial tips or resolutions for 2014.
# 1 – Everyday banking transactions – Irlon Terblanche, CEO FNB Core Banking Solutions
Make use of your bank’s facilities such as Cash @ Till???, free card swipes and banking platforms to make everyday banking a simpler, more delightful and hassle-free experience.
# 2 – Bank on the go – Kim Gibson-Van der Walt, Head of dotFNB
Conquer your digital banking fears and make 2014 the year to start banking-on-the-go. The convenience of banking via the FNB app for smart phones and tablets is well worth the minute or two it takes to download it.
# 3 – Saving up – Lezanne Human, CEO FNB Savings and Investments
If you want to buy something you don’t truly need but just want – only buy it if you can afford to pay for it in cash. A simple philosophy, but one that works well, as it teaches you to steer away from expensive and unnecessary debt. It is not a case of not buying the item, but rather saving up for it, plus adding the interest you’ve earned while saving, to then pay for it without using any credit.
# 4 – Home loans – Jan Kleynhans, CEO of Asset Finance
When buying a new property, ensure you understand the so-called ???hidden costs??? associated with taking on home ownership such as transfer duty and transfer costs, moving and set up costs and of course your monthly rates, electricity and water accounts. Budget carefully to ensure your home loan repayment along with these other costs are affordable to you so you don’t run the risk of going into arrears on your home loan account. It’s always wise and advisable to try put down a deposit on your home purchase so you finance 90% or less of the purchase amount.
# 5 – The Smart life – Sahil Mungar, Sales and Marketing Head, FNB Mobile and Connect
Get with the times and start managing your life from your mobile devices. There is literally an app for everything: from banking apps, to apps that help you workout, to finding a recipe or staying in touch 24/7. 2014 is the year to explore the mobile possibilities and simplify your life.
# 6- Share investing – Carin Meyer, CEO Share Investing
The beginning of the year is the perfect time to review your personal strategy to growing your wealth. This is a long term plan and it is crucial that it includes investing in the share market. Determine how much you can afford and start investing in shares today or if you already do, increase your current investments in the market.
# 7 – Interest rates, John Loos, Household and property sector strategist, FNB Home Loans
Life’s 3 certainties are ???death, taxes, and interest rates will rise???. With interest rates, it’s merely a question of by how much and when. We appear to be at the bottom of the interest rate cycle. Borrow well within your means and make sure you are able to afford a good few interest rate hikes.
# 8 – Online banking – Lee-Anne van Zyl, CEO FNB Online Banking
Familiarise yourself with what functionality is available from your bank’s digital channels, so that you can spend more time on the things you love, and less time in queues.
# 9 – Personal Loans – Pieter du Toit, CEO FNB Personal Loans
Know how much credit you can afford and if you borrow money, make sure you make you minimum repayment every month. A bad credit record will come back to haunt you when you need to apply for a home loan, vehicle finance or even employment in future.
# 10- Credit Card – Johan Maree, CEO FNB Credit Card
Try and pay more than the minimum outstanding amount on your credit card every month and see how quickly you can reduce your outstanding balance.
# 11- Rewards Programmes – Joland?? Duvenage, CEO eBucks
Make sure you understand the rewards programmes that you belong to as this is often an easy way of stretching your wallet. When signing up for rewards programmes, select programmes that offer retail and online merchants such as the eBucks rewards programme where you can earn on everyday necessities, like up to 15% at Checkers & Shoprite stores, and up to 15% on fuel.
# 12 – Basic financial tips, Eunice Sibiya, Head of FNB Consumer Education
Debt is expensive! Avoid taking up new debt and work towards paying off your current debt. Draw up or update your budget, cut down on nonessential items and pay a little more on your debts. Not only will this cut down the interest charged, but it will also help you pay your debt off quicker. Stick to your budget and remain financially disciplined.
# 13 – Banking Safety, Charlaine Albertyn, Head of FNB Cheque/Debit Card Fraud
Make sure you do your part in keeping your money safe by becoming more aware of your surroundings while using the ATM and not allowing people to interfere whilst you are transacting. Cover and secure the PIN pad at an ATM and Point of Sale when keying in your PIN and don’t ever compromise your card & PIN by allowing family members or friends to transact on your behalf.
# 14 – Mobile Money, Yolande van Wyk, CEO of FNB eWallet
Send money to your friends and family using your mobile phone. It’s instant, safe and the most cost effective way of getting money to anyone.
