Financial coach imparts financial guidance
Mashadi Nonkonyana is a Personal Financial Coach and an inspirational speaker. She has a strong passion for working with ordinary people in various townships, including professionals and students (high school & tertiary).
She provides full detailed lectures that enable people to build healthy and personal relationships with their finances along with actions that assist them to eradicate their debts while creating wealth and financial freedom.
She saw a gap in the townships where there’s a lack of financial literacy and limiting beliefs about money. After having worked for Sivulele Business Solutions where she was groomed for 3 years, she then established MologadiNonky Business Enterprise (MBE) which conducts personal financial literacy workshops around Ekurhuleni townships. “Most people are uncomfortable talking about finances or even dealing with them. Personal finance refers to the financial management of an individual or a family’s resources. It comprises of how you manage your money through expenditure, investments and savings, considering various life and risky factors,” adds Nonkonyana.
She also adds to say that it’s important to understand that money is beyond what most people think it is and it’s essential to have a plan that establishes one’s income, expenses, plan and financial future goals. “There are three things we can do with money; spend, save or invest. Personal finance affects things like transport bills, groceries, black-tax, dating allowances, school fees as well as the longer term goals like saving and investments. Managing your personal finance is necessary in that, it can help you increase your cash flow. When you keep track of your expenditures and your spending patterns, you can easily be able to increase your cash-flow,” added Nonkonyana.
Nonkonyana also provided tips on how to have a successful financial year especially during this pandemic time.
1. Increase your Cash flow.
• Make more money if you can, while you can. Have multiple sources of Income.
2. Spend Less.
• Cut down your expenses. It’s not how much you earn that counts. It’s what you keep. Set aside 5, 10, 15% of your income to savings.
3. Reduce your debt and liabilities.
• Interests on the debt will interfere with your goal for long-term asset accumulation.
4. Understanding how money works.
• Take time to understand how money works. You must learn how to make money work for you.
5. Have a Financial Goal.
• Set up a pan of action. Take care of your responsibilities and build up your wealth.
6. Embrace change and expect to succeed.
• Change your habits. Not only can you change the way you think, you must also change your habits. A better environment will enable better thinking and better solutions.
By Palesa Ndinisa
