Moderated Q & A PART 1: Afternoon Presentation Session

Question 1: Given the effects of the time value of money principle, how does one save for “rainy days”?

Answer: Emergency funds provide financial security in times of emergency and do not make one rich Thus, individuals can start by saving little money depending on their budgets Once your savings reach 3 to 6 months of your salary you can then consider growing your portfolio. You can use your emergency funds for your emergencies or rainy days, but you must reinvest that amount once you spent it for your emergencies

Question 2: How can a student save?

Answer: Students can budget and prioritize by spending their money on needs as opposed to spending it on wants This habit will enable them to save the little access money they remain with from their NSFAF loan allowance, or bursary allowances, especially during the mid-semester as students do not have a lot of expenses compared to the beginning of the semester when they must buy textbooks These savings can then be used for “rainy days”.

Question 3: When can you really afford consumable goods, especially high-value items such as iPhones, luxurious cars, etc.?Answer: You can only afford consumable goods if you can buy 3 or more items of that similar item E g , you can only afford the latest Mercedes-Benz if you can afford to purchase 3 of them today as this means you will be able to afford the maintenance and repair costs that the car will require during the time you will be using it

Question 4: What is EasyEquities?

Answer: EasyEquities is an investment platform, owned by Purple Group in South Africa which makes it easier for an individual to invest in stocks, Exchange Traded Funds (ETFs), crypto, and properties while at home

Question 5:

Answer: What are the 3 important Cs that young people can use to improve both their financial and overall wellbeing?

The 3 Cs are Circumstance, Conviction, and Compounding

Question 6: Currently, there are a lot of adverts online that keep appearing on our desktops, not to mention individuals that take advantage and promise to trade for us for large fees and not deliver on their promise as a result lots and lots of money is lost in the process. Information is overwhelming and thus, people fall victim to scammers. As young people, how do we know which platforms to invest in or trade with without being victims of scams?

Answer: Although there are efforts from financial institutions such as MTC shares giveaways to provide people with practical knowledge, scammers are unfortunately working harder each day Thus, financial services in Namibia could be doing more in terms of sharing information on their offerings to accelerate and scale to each large group of people Investing is not rocket science! There is no quick way to get rich, set your goal, get the required plan to achieve your plan, and stick to your plan with someone that can keep you accountable like a “wealth manager” It’s better to take a safe and slower route than take a fast way which could result you in losing all your money As young people undertaking financial literacy journeys, you need to educate yourself to be able to understand the company’s financial statements, and investment strategies, the market, and the industry, or alternatively engage a wealth manager to help you achieve your financial goal When building a portfolio, you need to understand the different asset classes (money market, bonds, equities, properties, treasury bills) based on your limited resources, and decide on the time frame and what you will be investing in. The key is to invest in something (company) that you understand or involve the services of a professional to assist you Be patient with yourself, have grace, and invest your time, try to find local and international relevant content and watch videos to strengthen your understanding and keep up to date