‘Making your money last until the next pay’
PEOPLE need to prioritise their money to last them until the next pay day and also to prevent from ending up with moneylenders.
This is an issue that was highlighted by ANZ Bank MoneyMinded facilitator John Tui Waqavakatoga while training nine parents from WOWS Kids Fiji on financial literacy in Suva this morning.
MoneyMinded is an educational program of ANZ Bank that builds knowledge and confidence to help people make informed decisions on how to manage their money.
Mr Waqavakatoga said making your money last until the next pay day was part of the program’s module.
He said they compared it to the necessity of water in people’s lives and how saving every single drop could mean a lot.
“At the end of the day, it all comes down to prioritizing your needs over your wants. Sometimes people are more indulged in impulsive that they end up losing so much,” Mr Waqavakatoga said.
“Manage your finances well, buy what you can only afford and refrain trying to impress people. To save money we should also learn to say no to certain spending our money on certain traditional obligations, think ahead and always set goals.
“He said the training consisted of five modules such as planning for the future, making your money last until the next pay day, prioritizing needs and wants, budgeting and assertiveness.
Mr Waqavakatoga advised people to participate in ANZ Bank MoneyMinded to help them understand the significance of managing their finances.