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Tips on how to inform your family you are financially strained during lockdown

21 May 2020 1:29 PM
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BDO Wealth South Africa financial planner Zanele Kunene says this is the right time to have financial literacy talk with family.

A lot of breadwinners have been impacted by the COVID-19 lockdown which has resulted in a loss of income.

With retrenchments and salary income, some people are unable to send money home to their families.

Clement Manyathela speaks to BDO Wealth South Africa financial planner Zanele Kunene about how to have the conversation with your family that you are able to send money home.

Once you have reviewed your budget, you have to set aside an amount that you can commit to.

Zanele Kunene, Financial planner - BDO Wealth South Africa

Most of the time the money we send back home is not based on how much we can afford but on how much dependents need.

Zanele Kunene, Financial planner - BDO Wealth South Africa

Kunene says this is a big opportunity for financial literacy.

It is a good time to educate yourself and your family about money management skills.

Zanele Kunene, Financial planner - BDO Wealth South Africa

Listen to the full interview below...


21 May 2020 1:29 PM
Tags:
Jobs
Black Tax
finances
Lockdown
financial wellness

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