2021 June articles Archives

The Five Pillars of Personal Finance

Careful planning and smart choices are essential to achieving financial freedom. Experts say there are five pillars to good financial wellbeing. Following these five strategies will help you to make the most of your income, plan for a comfortable retirement, and leave a lasting legacy for the next generation of your family.

Are you practising these five healthy financial habits?

Income planning:

This means understanding your income and expenses, to decide how much you can save towards your retirement each month. Income planning also involves setting a budget and looking for ways to reduce expenses and thus maximise savings.

Investments:

Investing your money in assets that will be worth more in the future will help you to build towards securing money for your future.

Insurance:

Paying insurance every month helps you to protect yourself and or your family against the cost of unexpected events like accidents, illness, theft and or in the worst case, death. When budgets are tight, many people are tempted to cancel their insurance policies, but this can lead to much bigger expenses down the line.

Tax planning:

You can reduce the taxes you’re required to pay by being strategic and taking advantage of beneficial tax laws and deductions.

Estate planning:

This means deciding what will happen to your assets after you pass away. Your estate includes everything you own, from your bank accounts, investment accounts and life insurance, to property and other possessions.

It’s never too early to start thinking about your financial wellbeing. What steps can you take to start saving more and investing in your future?

Why More Men Need to Talk about Mental Health

Mental illness can affect anybody, regardless of their background, race or gender. However, all too often mental illness in men is overlooked and dismissed.

Some men worry that their struggles are a sign of weakness, and society often doesn’t take their struggles seriously. This makes men less likely to speak up and get help for problems like depression, anxiety, PTSD and other mental illnesses.

Ignoring mental health issues can be dangerous and even deadly. Men who aren’t able to talk about their problems and get help are more likely to use other unhealthy methods of coping, like drug and alcohol abuse. Untreated mental illness can even lead to suicide.

If you’re a man struggling with your mental health, contact a therapist or if easier, talk to your GP and ask them what treatment they recommend. They might suggest therapy, medication or a combination of the two.

Getting help from a healthcare professional or an appropriate community organisation can help you to understand and cope with your condition, reducing your symptoms and improving your quality of life.

Here are some tips that can help you to cope while either seeking or starting treatment:

Remind yourself that mental illness can affect anybody, and it’s never a sign of personal weakness.
Look for ways to reduce and manage stress in your everyday life.
Practice deep breathing and relaxation exercises.
Educate yourself on mental illness, by getting in touch with local mental health advocates and organisations.
Look after your physical health, with a balanced diet, regular exercise and a regular sleep schedule.
Avoid using alcohol and drugs.
Talk to trusted friends and or family about what you’re feeling.