Yesterday, I had a drink with three of my friends. It was what we call our mid-year review of our New Year resolutions. Yes, it is July, that month when you look at your New Year resolutions and outline what you have achieved.
They faired badly. While one had pledged to be saving at least KSh10,000, he is a high roller with an eye for good clothes and car accessories which has made it impossible for him to keep the amount. The other i perfectly understood because his kid got sick and the money had to be used.
I? I had at least achieved 60% but could use a pay rise (Hope my boss will see this). Then we got talking about what makes us not to achieve our goals. Three reasons stood out
- Lack of a budget and poor financial discipline
- Rising cost of living that has left people with less money
However, I realized most of the reasons can be addressed by insurance or products that we have here at British American.
Lets take financial discipline for instance. We have products like super save plan, super cash plan and money back extra cash plan. All you have to do is instruct your bank to be transferring an amount each month to any of those plans. This way, you save money and depending on the plan you, you can get your money back in two years plus interest. And you get tax benefits, bonuses and other benefits.
For emergencies, we have a medical cover that will make sure that incase you or family member get sick, you don’t have to dig into your savings. Just flash the card and you are covered.Other covers include education for your children so January need not be a nasty month. I will be talking about this products in detail very soon.
If you not achieved them for the last reason, ask for a payrise, start a side hustle or talk to a British American financial adviser. For now, as you review your year resolutions, think insurance.