This online library will help you think about important financially focused questions that you should be asking.
It will also direct you to financial information that may be relevant to you and your current situation or life experiences.
What is a Life Experience?
We often talk about the big moments in our lives as ‘Life Events’ or ‘Life Stages’.
Life events are important moments in our lives but are not always a once off event, but rather a period in our lives that we are experiencing.
These times in our lives are called ‘Life Experiences’. You can live through more than one experience at a time and each experience could go on for a long time.
Most people may not live through some of the life experiences at all and will experience them at different times of their lives - there is no specific order (except for death).
Planning for my funeral
Funerals form an important part of our cultural life. In many cases, families spend far more than they can actually afford to bury their loved ones, resulting in situations that may land them up in debt. Often, over-spending and falling into a debt trap is done to keep up social appearances. Planning for funerals should not be driven by emotions but rather, make sound decisions that will not end in debt for those you leave behind.
Questions
To make sure that you are financially prepared for a funeral, there are some questions you should be asking yourself.
Important things to think about
Click on the icons to see the types of questions you should be asking yourself...
What do I know about funeral policies and burial societies?
Do I have life cover and does my partner have life cover?
What is the difference between life cover and burial cover?
What are the real costs of a funeral, namely the coffin, paying a celebrant or clergy, flowers, newspaper notices, burial/cremation costs, refreshments for mourners, etc.
Important things to think about
Click on the icons to see the types of questions you should be asking yourself...
Is my Will updated and who will ensure that my requests in my Will are followed?
Is my beneficiary nomination form for my pension/provident fund up to date?
Where will I be buried and by whom?
What are the legal requirements after death - documents and formalities, such as death certificates, closing bank accounts, paying off outstanding accounts, dealing with tax issues, debt etc.?
Learning series
The FSCA have put together a learning series just for you. The topics selected will help you through the financial side of your life experience.
Recommended for you
The FSCA have made recommendations of topics that may help answer some of the questions you may have.
Download all the content for these topics in the resource folder.
How to access the resource folder
Click the menu button on the top left. Click on Resources. Download the documents.
Accessing other topics
Remember, these suggested topics are not the only ones available to you. If you would like to explore our other FSCA learning series you can visit our website.
www.fscaconsumered.co.za
Conclusion
We hope that the information is informative!
We challenge you to put this knowledge to practice so that you can make financially smart decisions!
Remember to download the content before exiting the module.
