THE CRITICAL CONNECTION BETWEEN

EMOTIONAL & FINANCIAL WELLNESS

Eunice Sibiya

• Your journey - Background

- Exposure

• Lessons- From your background

- From your exposure

• Take out- Extracts from background

- Extracts from exposure

WHO ARE YOU?

What Emotional Effects do you carry?Personality change | Agitation | Being withdrawn | Poor self care | Hopelessness

WHAT’S YOUR EMOTIONALBANK BALANCE?

• Emotions:The awareness, understanding

and acceptance of our feelings.

- Living well despite our problems

- Living fully & meaningfully everyday

- Dealing with the whole gamut (scope/range) of human emotions (relationships, daily stress, work, happy moments, sad moments, pain, loss, etc.)

Emotions are knee-jerk reactions to both the world around you AND the world inside of you.

You can have emotions but you are not defined by them

WHAT’S YOUR FINANCIALBANK BALANCE?

• Finances:- Money matters

- Banking, accounting, earnings, expenses, etc

- How much you’re making

- How much you’re spending/saving/wasting

Finances are your gateway to realising your dreams/aspirations

EMOTIONAL WELLBEING FINANCIAL WELLBEING

Process of learning how to successfully

manage emotions

Process of learning how to successfully

manage finances

Being aware of one’s emotions and dealing

with them, both negative and positive

Ongoing planning for and management of

S/M/L goals

Being able to function in society and meet

the demands of everyday life

Acquiring financial security and freedom

presently and a solid plan for the future

WHAT’S THE LINK?

Emotions are displayed in all aspects of day to day activities

• Lack of Money or Poor management leads to stress and emotional drain

• Stats – around 65% of consumers are over indebted, therefore:

- Take unplanned loans (formal & informal) to make ends meet

- Learn new “survival techniques”

- Borrow from Peter to pay Paul

- Avoid taking 087 calls

- Allow the situation to become more dire

• Trends – Retail Therapy

So what’s the real problem/disorder?

Who’s spent their salaryand is broke already?

Pay day things . . .

CURRENT STATUS QUO

• Being Lit

• Following Trends

• Fitting In

• Retail Therapy

• Jabulisa Umzimba Osebenzayo

• Impressing Others

• Instant Gratification

• Robbing Peter to Pay Paul

• Skipping Payments

• Cancelling Policies

• No Preservation of Funds

• Debt Accumulation

• No Financial Goals

• No Future Plans

• Resigning to free up retirement savings

IMPLICATIONS

Personal

• Reckless spending habits

• No track of money spent

• Too many accounts

• Living a Lie

Household

• No plans for Current Needs

• No plans for S/M/L Term Goals

• Falling behind on Future Needs

• Missing out on ‘TIME’ (Investments)

NUMBERS DON’T LIE

Financial Finesse ROI Special Report 2016

Employees with Financial stress struggle to maintain financial stability and tend to increase S/L term financial costs for themselves and the Employer in the form of absenteeism, garnishes, delayed retirement, etc.

Stats: 44% of adults are unable to cover emergencies – a flat tyre, burst geyser, illness (exhausted medical funds) . . .

The ripple effects : household under more financial stress, salary advance request, poor work performance, absenteeism, etc

Employer suffers compromised output/performance . . . Direct /indirect financial loss.

PILLARS OF FINANCE

Cashflow Management

• Income & Expenses

• Transacting pattern

• Fin Goals

Saving & Investment

• S / M / L Goals

• Diversification

Borrowing

• ‘Good v/s Bad’

• How much? What for?

• T & C’s, Legal agreement

Insuring

• Assurance of the unforeseen

• Products available

Employees TOOLS NEEDED

Financial

• Transactional Account

• Saving / Investment Options

• Balanced Fin Management View

• Financial Expert

Personal

• Financial Discipline

• Smart Budgeting Tool

• Regular Monitoring & Review

• Stay Informed (Financially Lit)

Employees BE THE CHANGE YOU WANT TO SEE

• Acknowledge areas where change is needed!

• Make a Financial U-Turn!

• Set financial goals and commit to them.

• Budget as a Family!

• Be disciplined, don’t give up.

Employer CHANGE THE GAME PLAN

• Review the companies’ Reward Program – It’s not always about the

money

• Plan for initiatives that change lives (v/s traditional programs)

• Introduce / Improve Educative Wellness Programs – Financial

Management, Emotional Wellbeing, Consumer Rights, etc.

• Acknowledge that Employees are Human/ Emotional Beings

• Take note that Finances are not just numbers

ROLE OF THE EMPLOYER :BALANCING FINANCES & EMOTIONS

Emotional Effects

• Understanding the effects of economic, lifestyle and personal stress

• Providing/allowing an open yet private communication platform

Financial Effects

• Provide Education of Personal Financial Management and Coaching

• Provide opportunities that will lead employers to obtain financial security and financial freedom, for now and in the future.

EMOTIONAL & FINANCIALWELLNESS DEMYSTIFIED

Myth : One can only become emotionally healthy once they are successful

The opposite is true . . .

Truth : Cultivating Emotional Wellness is when one positions oneself to progress towards the success they dream of and desire

EmployerTAKING THE LEAD

Employees are carrying hurt from the past, don’t forget to show them love everyday.

Employees are presently going through pain, coach them never to forget the lessons gained.

Employees are facing a gloomy future, help them master how to craft informed financial and emotional wellness.

THAT WILL PROVIDE LIMITLESS OPPORTUNITIES