Our Financial Education Program is designed to maximize consumer learning. Our material focuses on helping people to understand their rights, and supports them in assuming responsibility for their own financial health.
One in four South Africans have impaired credit records. Various studies have been done on consumer behaviour and its effect on the workplace and home life. The absence of basic budgeting skills and inability to apply the tools available have resulted in consumers simply unable to take positive action to improve their situation.
Educated employees equal an effective workforce.
Empower your workforce by providing them with a Financial Education Workshop from Cape Debt Clinic.
At the end of this workshop, consumers will be able to obtain their own credit record, apply measures to correct any discrepancies, take action to settle any debt, know how to manage a judgement until settled and then proceed with rescission. Consumers will be able to identify problem areas and apply skills to address and change habits in personal spending. General knowledge is also provided on various solutions available and where to obtain such support.
Our workshops contain the following:
The Journey to Financial Wellbeing: The importance of budgeting, how to draw up a budget and how to deal with family financially. We teach attendees to recognize problem areas in their financial habits, and we explore options to help them rectify these challenges – positive change. This leads into the Goal Setting part of the Journey.
Goals are the most exciting part of the Journey, because setting financial goals creates hope. We discuss expectations in relation to income, in order to achieve personal goals.
Next we discuss the repercussions of not making positive changes to negative financial challenges. Change can be difficult, so we instruct attendees regarding legal costs, collection fees etc.
Credit is a necessary item especially when it comes to home-ownership. We give instruction regarding the credit report, credit score, how to improve credit score and how to rectify past mistakes. We also discuss the way in which creditors look at a consumer when granting credit (high or low risk) and the cost of debt (interest rates, etc)
A discussion on savings is an integral part of the program. We discuss Stokvels, family commitments, saving instead of borrowing (for example for holidays), saving for school fees, etc. This forms part of the budget. When we spend time with the attendees individually, we will help them plan a year ahead so that they can visualize their goals and how easy it can be to achieve. During the savings portion of the workshop, we will discuss the Journey into the future. This includes planning for retirement and even death which is taboo to many. Yet, the reality is that when a person passes away without leaving a will, the result is that the family left behind have to deal with settling an estate during the mourning period. We make use of the services of an external consultant who can assist with drawing up of Wills for those who do not yet have a Will.