Financial Independence Coach show: Ep 3 Q & A

Welcome to episode 3 – Questions & Answers submitted


Here are some of the questions that have been submitted to our Facebook page – which I answered on the show

How do you establish your natural ability and nature?

  • Dr John F. Demartini: Value Determination
  • Tony Robbins:

I do not know where my cash flow has gone?

  • Free cloud-based accounting: ( Personal & Businesses – Note it does not allow payroll for South Africa)
  • I personally have experience Identity-theft twice in my life … thus I do not link my bank accounts to any other account or apps.

How do you build a system for a small business?

  • Free Templates
  • From feeling like a Zero to being a Hero
  • Writing you 1st employee handbook
  • SME handbook
  • Workable Templates -> email request to

What you do when you feel redundant in your own business?

  • Simon Sinek – Start with Why
  • YEVL Template – My Life Goal, Vision, Mission and Purpose

How do you build wealth through a small business? MLM – Multi-Level Marketing

  • Robert T. Kiyosaki with Sharon L. Lechter (C.P.A) – The Business School For People Who Like Helping People
  • Examples: Avon / Herbal Life / Amway / Forever Living Products / Honey / This is just to name a few…

Want your questions answered by myself or one of our esteemed guest -> contact us directly

Until our next show, my peace and prosperity be with you (Shalom)

With Grace & Gratitude,


Yvonne E. Venter – Louw

  • YEVL (Pty) Ltd. – Principal & Director
  • Researcher, Advisor, Educator, Coach, Mentor, Keynote Speaker
  • Host – Financial Independence Coach show (YouTube)
  • Personal Thesis: The Psychological impact of past experiences (and rehabilitation thereof) on daily driven financial decisions
  • Naturally creating Freedom, Meaning & Wealth!

P.S.: Are you interested to find out more about the “Why, What, Where, When and How…” uncovered and discovered in the process of writng the abovementioned thesis? Sign up for our direct mailing list -> CLICK HERE

Wealth: Vehicle Financing Explained

Financing a vehicle is something that most people will have to do once, twice or several times throughout the course of their lives. There are a few different ways that one can go about vehicle financing and those include:

•             Vehicle Leasing

•             Vehicle Loans

Both of these have their benefits and drawbacks and must be thoroughly considered prior to making any sort of decision. Either way, you choose one thing that will remain the same is the fact that both will affect your overall income for several years to come. You will be required to fill out an application for credit, that will be used to determine rather or not you are eligible for financing, if you have a good credit score this could be easy, if not you may have difficulty finding financing for a vehicle. Typically the financing option will last anywhere between 3 to 5 years depending upon the amount of the loan, and your payment arrangements.

Leasing a vehicle is completely different and has a variety of aspects that make it typically appealing to the average consumer. Some of the key appealing points in leasing include:

•             Lower monthly payments

•             Lower down payments

•             Lower costs of maintenance

By leasing a vehicle, you will be gaining a vehicle with less money all the way around. Typically leasing a vehicle is cheaper than obtaining financing for one, and you will have a longer warranty than you would outright purchasing a vehicle. This could prove beneficial if the car ever malfunctions mechanically or otherwise. It is well known that when a car breaks down or any part of the vehicle malfunctions it could be extremely detrimental to the consumer as well as their bank account. With this type of warranty, many items will be covered that would not generally be covered under a financing option. However, always keep in mind that at the end of the leasing period, there will be a balloon payment due – which must either be settled in cash or refinancing … or you have to trade the vehicle in and start all over again.

The ultimate choice is yours – financing versus leasing, it is all the matter of doing some extensive investigation and figuring out which option works the best with you and your financial situation. If you have no credit or bad credit, you will likely have to speak to a lender that specializes in these types of situations, there are many ways that even with a bad credit score that you can obtain the financing you need to obtain a reliable vehicle at a price you can afford. For instance, there are those who provide individuals the opportunity to of rent-to-buy or direct/private-buy, which I will explain another day.

Always remember, you as the customer have the right to choose. This includes your choices on:

  •  All the additional add-on’s, which are added to the purchase/leasing contracted price and could inflate the capital unnecessarily.
  • To obtain your own short-term insurance, outside of the purchase/leasing contract. If this is included in the purchase/leasing contract, you could be charged an annualized premium on this short-term insurance and could be paying interest on your insurance instalments.

Once you have made your choice on the financing of your new vehicle and want to know how to restructure your repayments to settle this financing in a shorter time period and with less interest over the term … Feel free to contact us directly for coaching in this regard -> Click Here

With Love, Gratitude & Grace

  • Yvonne E. Venter-Louw
  • YEVL (Pty) Ltd.: Founding Director & Principal
  • Researcher, Advisor, Educator, Coach, Mentor, Keynote Speaker & Host of the Financial Independent Coach show on YouTube
  • Personal Thesis: The Psychological impact of past experiences (and the rehabilitation thereof) on daily driven financial decisions.
  • Naturally creating and experiencing Freedom, Meaning & Wealth!

Sign-up to our mailing list – Click Here

Workshop: Basic to Financial Independence – Shared Space, Roodepoort (2017-12-06)

Are you one of the 97% of South Africans living in debt?

Do you want to become part of the 3% who are financially independent?

Then this workshop is meant for you! In this workshop you will be provided with:
– Why is conforming to social norms bad for your back-pockets,
– Learn to understand the psychological drivers behind your spending habits,
– Learn the correct budgeting structure to your natural-self…

Read more

Follow the Magical Accounting Rules

To make sure that financial statements are easy to understand, there is a set of rules and practices that are established, which is known as the generally accepted accounting principles (GAAP). This has been developed to provide a basic guideline for the rules of accounting because I think it’s fair to say that it can get confusing at times. There are a lot of variations to the meaning so here is the best answer.  It’s the generally accepted accounting rules and procedures that are necessary to define accounting practice.

Basically, it’s a set of theories that accountants come to accept, and there are always controversies with some methods between accountants like any other field of study. Accounting is a discipline that is always growing and changing so it’s a good idea to keep up to date with all of the trends that are going on. Since the management prepares the financial statements of a company it is possible that a financial statement can be altered to give a company a particular boost. So, that’s why the companies that sell their ownership to the public needs to get their financial statements audited by a public certified accountant.

A certified public accountant (CPA) are licensed through the state for the same exact reason lawyers and doctors are, so they and protect the public by providing the highest quality of professional service possible.  The reason why CPAs are used is that they have no connection with the company and are independent. They have zero financing ties with the company. Some firms that employ a lot of certified public accountants include Deloitte & Touch, KPMG, and PricewaterhouseCoopers

An accountant with no strings attached or is independent commonly performs an audit, which is evaluating companies financial statements, products, accounting systems, and records.  The main purpose of an audit is to make sure that the financial statements have been properly prepared according to the excepted accounting rules. Keep in mind; since accounting is not a precise science it has room for interpretation according to the GAPP.

However, that doesn’t mean that the accountant’s report should contain substantial errors in the financial report, but more like that for most reports, it is reliable for creditors to take a look at.  An accountant can make a decision only when the financial statements conform to the guidelines of GAAP.  In the past creditors, banks, and investors tend to favour an auditor when they are deciding to invest in a company or give loans, because of their independence.  The individualistic audit is an extremely crucial factor in the growth of financial markets internationally. Also, many organisations can directly or indirectly influence GAAP.

The Financial Accounting Standards Board (FASB) [USA] [Accounting Standards Board – asb > Home – South Africa] is the most critical body for the development and issuing of rules on accounting practice. The website I previously listed is extremely critical and you can attend seminars online for no cost, and also stay up to date with the rules.  This independent body issues the Statements of Financial Accounting Standards.

Next, the American Institute of Certified Public Accountants (AICPA) [South African Institute of Professional Accountants (SAIPA) ]is the official professional association for certified accountants. It’s the largest CPA organisation that exists in America and heavily influence accounting practices through its senior committees.  The Securities and Exchange Commission is the agency of the federal government that legally has the power to set and execute accounting practices for companies that sell the security to the public, and it has a large impact on accounting practice.

Next, the governmental accounting standard (GASB)  [South Africa – IAS Plus] is critical for accounting because its main job is to issue the standards for accounting to the local and state governments in the United States.  However, a lot of these organisations are focused on the rules in regulations in the United States.

There are a lot of businesses and accountants internationally so that’s why the International Accounting Standard Board (IASB) was formed.  It was approved by more than 25 international agencies.  The U.S laws that analyse the revenues for the cost of operating a business can also affect accounting practice. It’s no question that the major provider for income for the government comes from income tax.

The income tax rules are heavily applied by the Internal Revenue Service (IRS) [South African Revenue Services SARS Home] Sometimes these rules actually cause a conflict with the accepted rules of accounting. A lot of businesses use accounting practices because it’s a requirement by tax law.  Also, companies can use the rules of tax law to their advantage financially.  Accounting also has laws of conduct for the profession, and one extremely important one is ethics.

It touches bases on questions that help determine if something is either right or wrong and is based on moral decisions. Most people are faced with several ethical issues each day and, and some ethical activities could be in the range of illegal. If a business decides to use false or misleading advertising or to bribe customers into giving them testimonials for a specific product, then they could be acting in an unethical manner.  The ethics of a company could also be a result of the employees so that’s why it’s always a good idea to run a background check of who you are hiring, whether it’s online or offline.

Small Certificate

Professional ethics is the guidelines that apply to the conduct of individuals of a certain profession.  Similar to the ethical actions of a company, the ethical actions of an individual is a decision.  As being a member of an organisation, accountants have to take responsibility not only to their customers and employers but also to the general public to act in the greatest ethical way possible. Accountants are very good at following professional ethics because they are the second professional group as having the largest ethical standards, with clergy being the highest, no surprises about that one.  It is important for individuals who decide to become an accountant to have the highest levels of professionalism as possible. To enforce that its prestigious members are following the rules, the AICPA along with each state has adopted some codes of professional conduct that certified public accountants have to follow.  Some simple rules are being responsible to the people that depend on the trust of accountants, such as creditors and investors. When working with people the accountant must act with

To enforce that its prestigious members are following the rules, the AICPA along with each state has adopted some codes of professional conduct that certified public accountants have to follow.  Some simple rules are being responsible to the people that depend on the trust of accountants, such as creditors and investors. When working with people the accountant must act with integrity which means that they are honest, and the individuals gain from the visit with the accountant. The accountant must display objectivity which means that they are intellectually honest, and they must remain independent which means that they must avoid any relationship with the business or individual because it will damage the accountant’s principles.

The accountant must display objectivity which means that they are intellectually honest, and they must remain independent which means that they must avoid any relationship with the business or individual because it will damage the accountant’s principles.

I hope this has provided you with some insight and a better understanding of accountants and the rules by which they are governed.

To your continued success,


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Personal Finance: 5 Common Myths About Credit Scores


A person’s credit score is an integral part of his financial life. A lot of agencies and individuals regularly look at your credit score, from banks, credit unions, utility firms, landlords, insurers and even employers. According to a recent survey, half of Americans don’t exactly know how their credit scores are derived, or what factors are used to compute those three vital numbers. Here are five common myths about credit scores.

Myth No. 1: The Major Credit Bureaus Use Different Formulas In Computing A Credit Score

This is one of the most common myths about credit scores. The truth is that the major credit bureaus, from Experian, Equifax to TransUnion all have a different term for the same score. TransUnion for example, calls it the Empirica, while Experian calls it the Experian / Honest Isaac Risk Model. While these major companies have different names for the credit score, they still use the same formula for coming up with it. While the names used by the major credit companies are essentially the same, lenders often use just one credit report, to analyse your loan application.

Myth No. 2: To Repair Your Credit Score, Simply Payoff All Your Debts

The truth is that your credit score will be influenced, and determined by your past credit history, and not by your current amount of debt. While you may be currently quickly paying off your credit card debts, and settling any other outstanding obligations, your previous history of late or missed payments will still reflect on your score. As the credit experts often say, it takes time to repair your credit score.

Myth No. 3: Closing Old Accounts Helps Boost Your Credit Report

This myth’s nothing but a common delusion. The truth is that closing old accounts won’t affect your credit score, but opening these old accounts will surely hurt your score. Having too many accounts also does damage to your credit score, because your score is usually affected by the difference between the available credit and the credit that’s being used. Shutting off an old account only helps to make your credit report look young and fresh, but the damage has already been done before.

Myth No. 4: Loan Shopping Hurts Your Credit Score

Whenever a creditor makes an inquiry about your credit score, the score can drop by as much as five points. Some borrowers often fear that if they shop around for lenders, each time the lender makes an inquiry, their credit score plummets again. The truth is that multiple loan inquiries are generally treated as a single inquiry, provided they come within a 45-day period. It would help if you do your loan rate shopping within the 45-day window.

Myth No. 5: A Loan Company Can, For A Small Fee, Fix Your Credit Score

Credit bureaus can’t do anything to soften up or alter your credit score, especially if it’s filled with lots of information about you not handling your debts well. The only way to improve or enhance your credit report is by showing that you can handle your debt load well in the future.

To improve your credit score, you need to do four things:

  • Reduce your debt load,
  • Pay your bills on time,
  • Remove existing errors in your credit report,
  • and apply for credit occasionally.

To your Financial Success,


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  • Online Business (Start-up, Resources, Product Offerings )
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Personal Finance: Controlling your Debt…

… How To Boost Your Credit Score

Meet and greet

A credit score acts much like your high school report card. It features a three-digit “grade”, which reflects a person’s creditworthiness to potential creditors, banks, insurance companies, mortgage companies and even employers. The higher your score, the greater will be your chances of availing of credit. Here’s how to control your debts, and boost your credit score.

Review Your Credit Report:


There are three major credit reporting agencies today, and through these agencies, you can get a copy of your credit report, for you to closely evaluate it. Just like using a fine- comb to weed out tangles and loose hair, you need to review your credit report with a keen eye for incorrect data or any inconsistencies. Check out any incorrect payments, credit limits, or collection data that you strongly feel is not yours. It’s a fact that some typing errors or numerical glitches often show up on some credit reports; therefore you need to get a copy of your credit report at least once a year.

Pay Your Obligations On Time:


Always make sure that you pay off all types of debt or bills on time. Late payments or any delinquencies will truly have a major effect on your credit score. If you forget to pay one or two of your bills on time, prepare to have some red marks or black eyes on your credit history. To steer clear of any delinquencies, try setting up your bills for automatic withdrawal from your personal current account so that you won’t have to deal with any collection agency in the future.

Balance Your Credit Card Spending:


Regardless of whether you have one, two or three credit cards, remember to spend wisely and balance your credit card obligations. If you don’t have the money to pay an existing credit card balance at the moment, try getting a loan from a family member or relative, so that your debts can be wiped off from your card, and your credit score also gets a helpful boost.

Never Do Loan Shopping:

Whenever you continually shop for loans or submit to as many lenders within just two weeks, your credit score will surely suffer a major drop. Try to do a cluster of loan inquiries within a proper period of time, like one maybe every three months, so that your credit score remains strong, and won’t have to suffer major drops in credibility with lenders.


According to credit experts, a credit score of 300 to 580 indicates that you’ll only get approved for loans that offer very high-interest rates. A credit score of 651 to 710 means that you’ll be able to avail of credit at moderate interest rates, while a score of 751 and up indicates that you’ll be able to get the most competitive and flexible loan packages available in the market today.

To your Financial Success,


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  • Online Business (Start-up, Resources, Product Offerings )
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  • For an update on the product already available -> CLICK HERE 


What is in your financial cupboard?

  • It is our ability to choose that makes us human → Madeleine L’ Engle
  • The good life is the enemy of a great life → Nancy Dornan 
  • The future belongs to those Who belief in the beauty of their dreams → Elenor Roosevelt
  • Dreams come a size too big, so that we can grow into them → Josie Bissett 
  • What you’re Suppose to do when you don’t like a thing a thing change it! If you can’t change it , change the way you think about it. Don’t Complain ! -> Maya Angelou 

Just like these remarkable Ladies, there are so much more… Even in our own South African history:

  • There are those who did not just understand the secrets of success but paid it forward to the generations who followed.
  • From Our ancestors who thrived in a harsh and untamed wilderness to those who move to unknown lands to start from scratch.
  • Strong Women, women Who stood up for our rights and our protection.
  • Women who have fought and are still fighting battles – Women who lead by example.
  • Women who today still speak out for what IS right  = Making a stand. Leaving their mark, their legacy in our world….

But how does this rich history tie into Finance? What does this have to do with what is in your cupboard?

Everything = It is a reflection of the impact of those who have gone before us, the lessons that we have been taught … or what we have not been taught; and the perception of our understanding of what has been given to us. It should be our reflection of gratitude … Proverbs states = When there is no vision / the people Will perish

This is not a history lesson or a “Who has first right” or a religious sermon … This is not a  “wihsy-washy” Wish Your dreams come true kind of thing. This is directed to each individual Lady sitting here, reading this blog → to keep an open mind and listen to the message intended for you! For everything happens for a reason and there is a reason why you are sitting here today!


Imagine You are Standing in front of this cupboard = Boring ….. right? There is nothing to wear?

But…What of the Unseen? The proverbial skeletons that take up space in this cupboard?

This is similar to Your financial planning -…. your finances —— Your life. Something is missing

We all come from different backgrounds, influences/houses (unless You are siblings) but even then Your perception of that environment is different to your closest sibling. We are all individually Unique by nature, and our uptake and thoughts of these inferences are just as such…. unique to us. For instance, let’s pretend You have a “Once in a lifetime” event and this is Your cupboard…

Your wedding or even a State Dinner to meet face-to-face the queen of England or Us President Or any international public figure that you will never ever be able to meet again, let alone be able to sit next to at the dinner table … Are you going to use what is in this cupboard? Are you going to borrow from friends and family? Or are you going to go BIG and buy or even have a new outfit tailored for You?

DO You have the ability to do this with what is in Your bank account today, without batting an eyelid? Or swipe a credit card or chase up a Credit limit On a clothing ACC? Are you going to do Your own hair makeup and nails? Or are you going to get a friend to help you? Or are you going to get professional help?

But remember You must still keep up with Your daily/ weekly/ monthly Commitments and did I forgot to mention the event is Tonight!

Realistic … and let us be 110% honest – Which option can you take today?


What if I give you a fourth option? This Complete Cupboard stock with only Your selections and size to fit?

No credit; No if, and, or, but’s ….. And you have in this cupboard a limitless choice?

Can you look like a showroom model or celeb on the red carpet?

What if – You can live your life knowing that whatever may happen – you will be more than just fine or okay? Let’s say this once in a lifetime event is not a happy one … You are diagnosed with Cancer / Parkinsons / Alzheimers today … or have a stroke or heart attack or motor vehicle accident?

Can your financial Cupboard support you for 6 to 9 months of treatment to recovery? Or support You and those Who are dependent on You, for the remainder of Your natural life or until they can Support themself? The facts are and statistics show that 95% of us here …. will not be able to!

Furthermore, can you be assured you will be emotionally strong enough to make it through… after all that you have already been through – can you carry on? Or will this be the straw that breaks the camel’s back?

True life story ….. Mrs SG:


Mrs SG was a young, happily married mother of a 4-year-old boy. Her husband has just started what seemed to be a very successful business and they had everything going for them. New house, new cars, new school for the little one. Everything was fine-and-dandy … or was it?

For one night he did not come to collect her from work. He was not answering his phone. Nobody knew where he was… He was gone!

Unfortunately, more than a week later Mrs S G found her husband – dead, marked as a John Doe in the State Mortuary …  How would You feel …. finances aside … Would this be you?

9O’ % of us have had these feelings on a regular basis, even though it was not due to the passing of a loved one or diagnoses of some kind … but rather of other circumstances or situations. Less than 10% of us might never even go through these feelings, reality is we are all going to go through this at some point in our life, or have already gone through it … and might currently be in this turmoil of feelings.

But what if…?

What if there is a way to prepare ourselves? A way to ensure our own Financial and Emotional, Success, Freedom = The certainty of knowing tomorrow the sun will shine again? Knowing that “Money” will be there → “Support” will be there … even if it has never been there before?


It is all possible with the correct planning/ assistance/ motivation/ coaching … with the right “person” by your side, guiding you and providing you with the correct resources and tools… and a few “life-Hacks” along the way.

The same as the clothes in your cupboard …. not one size and style fit all and unfortunately, this is something that the general society wants to imprint on us.  Although most do not want to admit to the fact, they also find themselves sometimes standing on the outside looking in … but would rather pretend to fit in just to not draw the wrong attention to themselves.

For those of us who have been standing on the outside for so long, that we have become accustomed to the view and the feelings … this is meant for you!



Cause I have already walk more than just a mile in these shoes, I know what it feels like when there are no longer tears to flow … When the light of day does not even light the dark of the hole you think you are in…

It does not become easier, time does not heal all wounds, and not all friends are really the “correct” influence on your life!

Compare these facts:


Last week at a seminar, which I attend as part of my research,  I started off sitting by myself and was joined by a total stranger.

We started talking and I found myself later with an additional two strangers sitting at our table – hanging on to every word that has been exchanged. That being said – I was only made aware later, of the crowd that was standing around our table, who were all also following the conversation…

Once again I realised how little of the knowledge and know-how is actually been shared with those who really need it.  Even those who are willing to share their knowledge, their experiences and their “formula” to success – are only willing to do so at a HUGE PRICE TICKET… Or even bigger Commissions that indirectly affect each and every Mrs YOU out there.


Now let’s be honest, where are you sitting today?

Are you enjoying every Summer Sunset and Spring Flower that starts to bloom?

Or are you stuck in a Winter of your own discontent?

Or are you just surviving through this Autumn?


Do you want to achieve your own success? 


Do you want to maintain a balanced lifestyle?


Do you want to have the financial and emotional freedom you have always dreamed of … but just never seem to achieve?

It’s your choice!

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  • For ease of access and to your benefit – we have compiled a list of our templates to assist you with your personal/business accounting -> Click Here
  • For assistance, advice, coaching or mentoring, feel free to contact us directly -> Click Here

Preparing our children for their financial futures…

Honestly, I have a deep dislike for going to any bank’s branch. No matter what, by appointment or not, you end up waiting and waiting and waiting…

During my last visits waiting – I did, however, discover a little gem I would like to share with you.

In this specific bank’s own marketing magazine, I found the following article…

Parenting To-Do List:

  • A-B-C = Done
  • 1-2-3 = Done
  • S-E-X = Done
  • S-A-V-E  …. oops!”

The article continues to go on to explain that in our Instant Gratification Society we teach our children lessons for their age but overlook the most important lesson… which is to save!

I am sure we all at one stage or another all wished that our little darlings came with a complete instruction and troubleshooting manual… but the same could be said about personal financial planning, or rather personally managing your own finances.

Not all of us had the privilege of watching and being a part of our parent’s discussion of drawing up their budgets and planning the month ahead – the envelopes system ring a bell for you…?  Although those individuals who had this experience in their childhood, then to be better off than most of their counterparts.

Unfortunately, even fewer children these days have the privilege of being part of their parent’s monthly financial planning and management – for these children their parents resemble the local ATM… push the right buttons and money will be distributed.

Further to this, the same Grandparents that did not make their children part of their monthly financial planning and management – are also at fault,  for adding insult to injury. For as soon as the parents do decide to close a tap, these grandparents just open another one. Those Grandparents who did provide their children with the experience of monthly finance management are dumbstruck by the ‘easy-come-easy-go’ behaviour towards money.


Speaking out of personal experience, I have seen all three sides of the coin in our household. My other half was one of the privileged children, whose parents taught him the importance of monthly finance planning and management.  And although my mother and step-father both work most of their lives in the banking industry, being part of their monthly planning and management was a BIG TABOO. Everything I know about finance, was either self-taught or industry and qualification related training, somewhere along the line.

Today  I can see the difference in both our mothers and their attitude towards money and the ATM-effect for our children. Where my mother would easily just give in to our oldest – now 13 – request for money for airtime or whatever he thinks is of life importance to a teenager, without consulting us if this will be acceptable or not.  Hubby mother is rather much stricter and agrees with our pre-determined rules and limits.

For these reasons, I really appreciated this article, purely re-affirming the following guidelines when teaching our children about planning and managing their own financials.

Age 6 to 8:

  • Start with the basics, as they can now count – they can start taking responsibility of an allowance to fulfil their needs. Providing them with the opportunity to pay for their own sweets, toys and what not – will bring them to the understanding of things cost money.
  • Although I would recommend that this is started sooner. We have already started this process with our middle child, who is now 5 and is becoming quite a little entrepreneur with regards to ideas for earning and attaining more money.

Age 9 to 11:

  • At this age, we should intensify the lessons, by teaching our children how to save to achieve their own goals.
  • Opening a bank account with a bank card will increase their responsibility and independence.
  • Further to this, teaching them to track their savings and spending habits will provide them with a solid foundation for their future financial endeavours.

Age 12 to 15:

  • The negotiations years, where children should be able to grasp the concept of delayed gratification. We should trust them enough to make their own decisions when it comes to saving and spending.
  • We can assist them by showing them how to research their option, finding the best offering and to determine if the amount spends on an item does measure up to the perceived value that item would hold for them personally.
  • How to choose quality over quantity and not to follow consumer fads.

Age 16 to 18:

  • Building on the above-mentioned foundation, these teenagers will be financially responsible when they venture out on their own.
  • Although  I would recommend starting to teach them the basics of budgeting at an earlier age, at this age they should know how to budget and learn the high cost of debt of products such as personal loans, credit cards and clothing accounts
  • They should by now realise the impact of their daily financial decisions, for the now and the future.
  • Bring the understanding home to them of spending what you have is one thing, but creating debt to obtain something now is not so cool as it may seem; understanding the cost of debt and lending, the charges and interest banks and other financial institutions will charge on their debt.
  • Pre-paid cards are the best way to instil the principles of sticking to a budget.

Age 18 to 25:

Investment Projection Illustration
Investment Projection Illustration
  • Setting big goals for big dreams. Demand a greater financial responsibility for your children and start teaching them to invest not just save. Unit Trust accounts are a brilliant way to start this process.
  • Should they be interested in saving or investing for big ticket items, high-interest accounts should be considered.
  • For warn them off longer term loans accounts such as hire purchase, lease agreements, the cost involved and the fundamental differences between such accounts
  • F.Y.I there is nothing wrong with coming to an agreement to match their savings at predetermined milestone to encourage their efforts.

I sincerely hope you find these guidelines as useful as we did to re-affirm what we are already teaching our boys to be financially independent adults.

For more information or assistance, feel free to contact me via the contact page in the menu above…

To your continued success,


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Guest Post: 13 Random thoughts on living a happier, less materialistic life

Original post: (702) Cape Talk – Written by: Kobus Le Roux (14 October 2014)


Know those material things cannot make you happy, but these things can: being grateful and giving thanks; savoring simple pleasures; forgiving yourself and others; loving-kindness towards yourself and others; maintaining intimate relationships with family and friends and prioritizing their happiness; exercise and healthy living; having a purpose; being passionate; serving others; losing yourself in whatever you’re doing.


Having lots of money, driving a fancy car, owning a large house; many people assume that these things denote a successful, happy existence. However, when you lack love it becomes apparent that material things have little meaning. Will your stuff console you when you are sick or dying?


You’ll probably be happier and less stressed if you work less. More free hours could mean more time for family, friends, play, and the things you enjoy. Materialistic people incur heavy penalties in pursuit of their goals. The more materialistic you are the harder you have to work and the more indebted you’re likely to be.


The happiest people seldom judge themselves by what others achieve or own.


Many couples are so worn out from working at high-stress jobs (so they can afford a nice house or fancy car) that they no longer have the energy to bond. Life is materially comfortable, yet unsatisfying and exhausting.


Striving to be rich (or to own a particular house or drive a particular car) is not a goal that will lead to happiness. How rich is rich enough? There is always some product that you don’t yet own or more money to make. These are goals that seem impossible to achieve; you keep on needing more. Rather strive for spiritual goals – like being a good friend – which satisfy permanently when achieved.

Before Silicon Graphics (his first company) Jim Clark, the founder of Netscape (his second), said a fortune of US$10-million would make him happy. Before he founded Netscape he was quoted as saying that once he had $100-million he’d have enough to be happy. Before Healtheon (company number three) he desired $1-billion. He recently told author Michael Lewis, “Once I have more money than Larry Ellison, I’ll be satisfied.” Ellison, the founder of Oracle, is worth $13-billion.


Advertisers deliberately create feelings of inadequacy; we possess what we don’t want and want what we don’t have. They don’t merely take advantage of unhappiness, but actively try to cultivate it. They present products in an unreal, completely distorted way so as to make them seem essential and capable of making us happy.


It’s unlikely that chasing money per se can be satisfying. Rather focus on doing what you enjoy and what makes you happy. You’re more likely to be successful in your job if money is not the objective.


To give up pretensions – to relinquish the race to keep with your neighbors – is a glorious, blessed relief.


It’s clear to me that spending money on life experiences such as traveling makes people happier than spending on material things such as, say, buying a new car. Maybe it’s because past experiences become better with time as our fallible memories reinterpret events? Or maybe it’s harder to unfavorably compare experiences? Whatever the case may be, spending money on experiences is more likely to encourage social relationships than a material purchase and therefore stands a better chance of causing lasting happiness.


Materialistic goals and living the “good life” are often mutually exclusive. It seems to me that the more people aspire to materialistic goals the less satisfied they become.


Will accept all of this – that being less materialistic can make you a happier person – change many minds? I would hope so, but I have my doubts. We’re often blind to our own materialism. We easily finger someone else’s fondness for, say, the latest gadget as materialistic, yet we view our own desire for the latest gizmo as essential to make work more efficient. You must be aware of your own materialism to avoid it. Furthermore, most people have a very broad definition of “needs”. I “need” new shoes for the gym, I “need” clothes for work, I “need” a larger car for my growing family…

Before you go without a new experience or take a job you don’t want, in order to meet your “needs”, perhaps it’s time you take an honest look at how real and pressing your “needs” really are?


Be content with what you have; it’s great when you get richer, but don’t stress or be competitive about it. Enjoy the simple fact of being alive and breathing. Relating to others is what truly makes people happy.

(Click here for more personal finance articles from 702.)

Impulsive Spending – Move! Magazine

14 July 2016
Attention: Thulisa Mancotywa

Move! Magazine’s proposed article on Impulsive Spending.


Thank you for your request and the opportunity to provide you with input on this article; I firmly believe that your target market will benefit from it.

However, should you use any of the content of this letter – kindly send me the final draft before it is published for sign-off of using the content and crediting it to my name.

Kindly take note: before answering the questions you posed, I want to make it very clear that any individual reading these answers should seek the professional advice and coaching of a professional financial adviser/ coach/ accountant. The content of this letter is for information purposes only and should in no way be taken as individual direct advice of any sort.

All of the information contained in this letter is based on personal experience, knowledge, anecdotal evidence and physiological research in the specific field. Although I have strived to be as accurate and complete as possible in this letter, notwithstanding the fact that I do not warrant or represent at any time that the contents herewith are up to date and accurate, due to the rapidly changing nature of the Internet.
While all attempts have been made to verify all the information provided in this letter, I assume no responsibility for any errors, omissions or contrary interpretations of the subject matter within. Any perceived slights of specific persons, people or organizations are unintentional.
In practical advice books, like anything else in life, there are no guarantees of income made. Readers are cautioned to reply on their own judgement about their individual circumstances to act accordingly.
Although I am a Qualified Financial Advisor by profession; this letter is not intended for use as a source of legal, business, accounting or financial advice. All readers are advised to contact me in my professional capacity or refer to the services of a competent professional in legal, business, accounting and finance fields.
I assume no responsibility for the use or misuse of the information, or any injury, damage and/or financial loss sustained to a person or property as a result of using the content of this letter. The information contained in this letter is for informational purposes only.
ALL RIGHTS RESERVED: No part of this letter may be reproduced or transmitted in any form whatsoever, electronic or mechanical, including photocopying, recording or by any informational storage or retrieval system without express written, dated and signed permission from me.

What is the difference between normal spending and impulsive spending?
First, the reader must understand the distinction between what is seen as normal and what is seen as impulsive spending. And although the ‘norm’ is not always the ‘norm’ for all individuals – there are some that will describe what you and I describe as impulsive spending as their own ‘norm’.

Now I know there are those that will argue with me on the following, but this is how I assist some of my clients to understand what their own normal spending would be described as.

The easiest way to distinguish what is the normal spending for any individual is to establish what are the basic needs which the individual has every month, month after month. Purely by this measure can you then state it to be the normal spending habit of an individual.

For instance, although both Miss X and Miss B have the same basic needs – such as housing, nourishment, transport, clothing, and so forth; Miss X might have an additional financial dependent where Miss B does not. Thus they would have two different normal spending patterns a month. Please also understand that a financial dependent is not always or only a child or children but in some instances, it could be a niece or nephew, a grandmother, grandfather, father or mother who is dependent on your reader to meet certain financial needs.

Once the reader has established her own normal spending month after month, of her own basics and those of her dependents; any other spending would fall in a category of additional need. Because the lines between the two can get very blurry at times – confusion between the basic need and additional need is a common occurrence in a lot of households.

Impulsive spending is not just on frivolous items that do not fall within the description of the basic or additional needs but could also be on this basic or normal need fulfilment.

For example, although the normal spending includes nourishment, the purchasing of ‘take-aways’ on the way home, because you are too tired to cook, would classify as impulsive spending.
A home-cooked meal would cost for argument sake, let say R50 feeding 2 adults and three children
‘Take aways’ would cost for argument’s sake R180 feeding the same 2 adults and three children

Now although the basic need for nourishment has been met – the impact on the normal spending or better known as your monthly budget would result in 3 and a half meal times budget spends in one instance of not being in the mood to cook.

Impulsive spending, as I would classify it – is any and all spending that has not been pre-planned and budgeted for on a month-to-month basis.
What are some of the common reason that makes people want to spend money impulsively?
Impulsive sending would generally be earmarked by either a physical or emotional need of fulfilment that the individual wants instant gratification on.

Although the need or even want for the fulfilment of any physical need is not the issue – it is the instant gratification that creates issues. Any purchase that has not been pre-planned and budgeted for can create in itself massive implications for any individual or household.

Furthermore, most emotional spending is impulsive, of which a great deal is regarded after the fact; maybe not for the fact of now owning the product that was purchased, but rather a regret of the money that has been spending.

Best known as “Retail Therapy” – it provides the individual with a stimulus to satisfy an emotional need or want. Although this need or want might be justifiable, the instant gratification of that need or want is where impulsive spending occurs.

Another common reason individuals spend impulsively is purely to keep up with the individuals next to them. This is another example of an emotional need or wants been met purely because … “my friend has one…”.

Is impulsive spending common amongst specific groups of people?
Impulsive spending, in my own experience, is not just found in a specific age, income or even ethnic group. Impulsive spending can occur in any of these groups.

Should you wish to link impulsive spending to a group label – I would say it is a group of individuals that are not disciplined in pre-planning and budgeting any and all need or want fulfilment. It could very well be an individual that has a stable month to month income or even an individual with a very irregular income.

Strangely enough, I have found it is the individuals that can least afford it that is more subjected to impulsive spending.

Is this an addiction that can affect relationships, lifestyle and even health?
This question should be answered twofold…

Is it an addiction: Yes and no… In some cases, the emotional needs or wants for instant gratification can become an addiction. However, in most cases it is purely a lack of … I won’t say knowledge or even understanding, but rather a lack of practical implementation of financial planning and accounting measures that creates issues for the individual.

Does it affect relationships, lifestyles and even health…? Yes to all the above.

Relationships can be seriously affected to the extent of ending the relationship. On official records, there is many divorces – which are due to one partner’s lack of financial discipline and the other partner’s lack of willingness to maintain the relationship due to financial issues.

Further to this, the individual’s lifestyle will be affected by impulsive spending to the extent that they could end up in such a deep debt hole, that the only solution at the end of the day is to declare themselves insolvent

Health issues are also very common. This can be either due to the emotional turmoil (stress) related to the regret after the fact or the constant “month that is left after the money has ended”; or due to a physical lack of basic needs fulfilment as a result of impulsive (over) spending.

What is your advice to Move! Magazine readers about the importance of financial planning?
Before I give the readers any “advice”, there is something that the individual must understand clearly. Financial Planning is not buying a policy or starting a savings account or even taking out medical aid… No – financial planning, the same as accounting starts with what may seem two of the smallest of things, that is overlooked by many individuals …

Income should always be greater than Expense!
You fail to plan – you plan to fail!

This is where most individuals misinterpret financial planning and thus then fail to implement it in their own lives.

One of my own personal mentor’s favourite sayings is that “Money flows to where it is best respected and protected” … This is where proper financial planning adds not just emotional and physical value to the individual’s life… BUT when implemented, disciplined and managed, it will create monetary value for the individual.

Personal Financial Planning, in my opinion, should already be taught to children as soon as they are capable to understand what money really is… a tool to obtain and maintain wealth!

Purely by teaching them the correct basics of personal financial planning, we would not just raise a generation that would be capable of implementing this, from the first day that they start looking after themselves financially; but also a generation that will change any country’s economy in leaps and bounds.

For those who were not privy to this kind of upbringing or background understanding – I would urge those individuals to seek not just a financial planner/ broker/ advisor, but a financial coach/ mentor to guide them through a process of reconditioning of their own financial habits. This will include not just the initial planning but the accounting and recording of your own financial habits, teaching you how to constantly monitor and adjust your behaviour to ultimately achieve your own financial freedom.

So to come back to the original question – the importance of (proper) financial planning?
Financial planning is not just of vital importance for any individual who wants to live a financially sound lifestyle, but also impacts greatly on the economy of the country!

It all boils down to the less the country has to spend on taking care of those who could not, did not or cannot take care of themselves financially, the more the country can spend on progress in its own economic growth, instead of just trying to maintain its current standard.

I hope and trust that this information assists you in your article. Should you have any further questions or need information feel free to contact me via email.

Yours truly,

With Love, Gratitude & Grace

  • Yvonne E. Venter-Louw
  • YEVL (Pty) Ltd.: Founding Director & Principal
  • Researcher, Advisor, Educator, Coach, Mentor, Keynote Speaker & Host of the Financial Independent Coach show on YouTube
  • Personal Thesis: The Psychological impact of past experiences (and the rehabilitation thereof) on daily driven financial decisions.
  • Naturally creating and experiencing Freedom, Meaning & Wealth!

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