debt in the workplace financial wellness solutions for tomorrow | today
TRANSCRIPT
‘me and money’
Before we get started…
OHOW DOES MONEY MAKE
YOU FEEL?financial wellness solutions for tomorrow | today
‘me and money’
Before we get started…
ODO WE TAKE OUR MONEYSERIOUSLY?
financial wellness solutions for tomorrow | today
‘up for discussion’
This is what we will cover this eveningOthe South African context
Oconsiderations and challenges
Oshould employers care?
Otwo choicesOcan we help you further?
financial wellness solutions for tomorrow | today
financial wellness solutions for tomorrow | today
‘the South African context’R1.3 Trillion
R268 Billion75% Debt to
Income70 million credit
transactions
financial wellness solutions for tomorrow | today
‘the South African context’As at March 2012…
19 340 000 credit active consumers7 465 240 in “good standing”2 746 280 issued “judgements”2 378 820 “adverse” listing
financial wellness solutions for tomorrow | today
‘the South African context’As at March 2012…
3 848 660 3+ months in arrears2 901 000 1 – 2 months in arrears119 000 impaired records increased
financial wellness solutions for tomorrow | today
‘the South African context’As at March 2012…
310 000 000 enquiries made on consumer records120 094 credit reports issued10 357 disputes lodged
‘the South African context’
The total cost of garnishee orders
paid by public servants?
R1.01 Billionfinancial wellness solutions for tomorrow | today
‘the South African context’Consider this...out of every
100 South Africans who work, at age 65…
O 49 will be dependent on the state or family
O 29 will be deceasedO 12 will be bankruptO Five will still be workingO Four will be able to retire
comfortablyO One will be wealthy
financial wellness solutions for tomorrow | today
‘the South African context’Do we have a debt problem in
South Africa?YES!
Can Employers help?YES!
financial wellness solutions for tomorrow | today
financial wellness solutions for tomorrow | today
‘considerations and challenges’
ODo your employees…Ounderstand their relationship with MONEY?
Ouse a personal BUDGET planner?
Obattle under DEBT? Ohave a plan to REDUCE debt?
Oask for a LOAN or an ADVANCE?
financial wellness solutions for tomorrow | today
‘considerations and challenges’
ODo your employees…Ocommit towards SAVING?
Oplan in case of RETRENCHMENT?
Ounderstand INVESTMENTS?
Oknow how to PLAN financially?
financial wellness solutions for tomorrow | today
‘should employers
care?’OA financially distressed employee means…
Otheft | corruption | fraudOabsenteeism | “absent at work” | poor motivation
Oproblematic to manage | accidents
Odisruptive in the workplace
financial wellness solutions for tomorrow | today
‘should employers
care?’OA financially distressed employee means…
Oless take home pay – Garnishee Orders
Oproblematic wage and salary negotiations
Ostrike action [violent] | stay-aways
Oincreased union activityOall this will impact on the workplace…
financial wellness solutions for tomorrow | today
‘two choices…’Oimplement a workplace based financial wellness program covering…
Opersonal attitude | relationship with Money
Opersonal budgeting | cash flow management
Osetting of short | medium | longer term life and financial goals
financial wellness solutions for tomorrow | today
‘two choices…’Ounderstand the fundamentals of debt
Odebt recovery and rehabilitation plan
Olimit dependency on credit
Ounderstand savings | investments
Oraising financially responsible families
Ofinancial discipline as a lifestyle choice
financial wellness solutions for tomorrow | today
‘two choices…’Ofurther financial planning considerations
Oimplementation considerations | year round
Oadopt the financial wellness program as part of the HR training calendar | EAP program
Obeware the “freebies” there is no free lunch
Oconflict of interest
financial wellness solutions for tomorrow | today
‘can we help you further?’
Ogo to www.motivatetoday.co.za for detailsOWorkplace based
financial wellness programs
OOne on One personal financial coaching
Obrochures and fact sheets to download
Oclient feedback | financial wellness blog
Ohandy self help tools | resources | links