Category: Other

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#2020TwoPointO

Momentum Irene

We believe that no year should be written off especially one with the power to redefine your future and turn delayed dreams into windows of opportunity.

Join the nationwide movement #2020TwoPoint0 and bring a new energy, a new attitude and a new momentum that will make you look back on this chapter on your journey to success with zero regret. We have been amazed by the things people have been getting up to during lockdown – whether it is improving their cooking or baking skills, or learning to play a new musical instrument, people have been busy. Even during alert level 3 of lockdown, many people may still have some flexibility in their time. It may be useful to also use this time to take care of personal admin that you usually put on the backburner for the end of the year.

Whether it’s finally putting time into investigating that leak on your ceiling, clearing your gutters and drains or any other wear and tear on your property, use the time wisely and take preventative measures to protect your valuables.

Now is also the perfect time to re-evaluate your other insurance policies and ask yourself if you are getting the most out of your current vehicle insurance plan. Our financial advisers are operating successfully with access to online platforms and can also provide you with a quote, within minutes, for vehicle cover to make sure you are getting the best cover.

What to expect on level 3 lockdown

We will remain fully operational across all business areas under level 3 of the lockdown.

To protect the health and safety of our clients and employees we will maintain a “no visitors” policy at Momentum’s offices, unless prior arrangements were made.

Financial Relief

We recently shared our plans on how to assist clients who are financially affected by the pandemic with you. These are a reminder of the financial relief options available

An early claims cashback release on the Safety Bonus and Rewarder benefit, for clients who are eligible. Limited travel and working from home adds to your Safe Dayz™ which means more rewards toward your Safety Bonus.

Premium and cover ‘pause’ option – upon reinstatement of the premium following the pause, Momentum Car and Home Insurance will not deem the period as a break in cover, which otherwise might impact your risk profile and future premiums.

If you choose to ‘downscale’ your cover within the lockdown period and revert to the original cover within 10-working days after the lifting of the lockdown level 1, Momentum Car and Home Insurance will keep premiums the same as it was before the change, provided there is no material change in the risk.

Contact us to assist you in choosing the right option for you. You can send an email to admin.irene@momentum.co.za and we will call you back.

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HOW TO CHOOSE YOUR FINANCIAL ADVISOR

Momentum Irene

If you take a look at businesses today, it is all about budgets and targets, and achieving them by any means possible. To be honest, it is no different in the financial industry. It is a numbers game. The more cases you close, the more money you will make. Similar to any retail shop, really. The more people through your door, the more bread you can sell, the higher your profit.

There is a significant difference though – Financial Planners have their clients’ livelihoods in their hands.

How many financial advisors have you dealt with in your life? How many didn’t answer and/or return your calls? Just ignored your email when you were in need of assistance, needed to make a change, or take a payment holiday?

The Salesman

A salesman is only in it for the money, and you can spot them easily. They go door-to-door selling you a hoover or a policy. They are not concerned with what you need or how much you can afford. They are only trying to reach their quota. They do not offer solutions and do not educate.

If your Financial Planner’s goal is chasing money and wealth, there are some tell-tale signs from the start.

  1. Are they asking you about YOUR needs? (They really should)
  2. Are they telling you what you need, without taking your financial situation and financial goals into consideration? (They really shouldn’t)
  3. Are they trying to sell you the maximum number of products, at the highest price?

The above approach is often used when giving financial advice to clients – making all high earning products and services most appealing to close the deal. A Salesman will generally look at an upfront commission instead of a monthly commission. (Note, this is not ALWAYS the case – discuss your options with your financial advisor). Their focus moves away from the clients’ needs and is rather focused on the sale opportunity – don’t get fooled by the smooth-talking Salesman.   

The Financial Advisor

Any Financial Advisor worth his/her salt, is there to help their client with proper financial plans and strategies by giving financial advice. A first session with your advisor should start with a Financial Needs Analysis (find out what is a Financial Needs Analysis)

Based on the results of the FNA, the advisor should advise on smart financial strategies, investment planning, cash management, education, last will and testament and other areas to help the clients reach their financial objectives and goals.

By law, a financial advisor should review a client’s financial plan at least once per year.

The relationship between client and advisor must be built on trust. To achieve that, they must listen to you, care about you future and give the right advice, for the appropriate time in your life and financial situation. This will build a long and trusting relationship with one advisor where you grow together, and you are not purely a number on your Advisor’s monthly quota.

Let us take you for a coffee, and tell you more.

Article written by Johan Vermaak. Johan joined Momentum Irene in 2019 as a Financial Advisor.
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Global Earth Day (Nr 50!)

Momentum Irene

Earth Day has been celebrated every April 22nd since 1970. The main aim of Earth Day is to raise awareness on the negative impact our actions as mankind have on our environment and earth as a whole, and is a day for political action and civic participation.

Earth Day was a unified response to an environment in crisis — oil spills, smog, rivers so polluted they literally caught fire.

On April 22, 1970, 20 million Americans — 10% of the U.S. population at the time — took to the streets, college campuses and hundreds of cities to protest environmental ignorance and demand a new way forward for our planet.

The first Earth Day is credited with launching the modern environmental movement, and is now recognized as the planet’s largest civic event.

What can you do, especially while in lockdown? (Please visit www.theminimalistvegan.com for a more comprehensive list!)

  1. Put on an extra layer of clothing instead of turning on the heating. Seriously, doubling up on your socks does wonders!
  2. Open up your blinds and use as much natural light as possible before switching on your light bulbs. You all get to enjoy some more sunshine
  3. Turn off your lights when you leave a room.
  4. Hang your wet clothes on a drying line or rack instead of using a powered dryer.
  5. Turn off your devices at night, including your wifi box.
  6. Don’t use plastic bags at checkout. Instead, take your own bags for groceries. https://theartofsimple.net/diy-super-simple-market-bag/
  1. Buy your produce in bulk from your local farmer’s markets.
  2. Avoid buying plastic-wrapped products, opt for a paper bag instead.
  3. Stop buying bottled water! If you can’t drink tap water, rather buy water in bulk, or purchase your water from water-retailers like www.h2o.co.za
  4. Reduce how frequently you wash your clothes.
  5. Repurpose old clothes as rags or donate to a local mechanic if no longer wearable.
  6. Acquire basic sewing skills to patch holes and sew buttons back on. Or if you have a bigger job, take to an alterations shop. 
  7. Opt to receive digital letters and notices.
  8. Read this article on how to use an app to scan and organise all of your paperwork.
  1. Collect scrap paper in a tray.
  2. Turn off your computer before leaving your home office.
  3. Juice the off-cuts of your vegetables and fruits.
  4. Repurpose glass jars.
  5. Use cloths instead of paper towels.
  1. Start composting. Here’s a guide to help you get started.
  2. Use a dishwasher instead of handwashing.
  3. Try making homemade cleaners.
  4. Go makeup-free for one week each month.
  5. Limit the amount of water you use to brush your teeth.
  6. Don’t leave the water running when cleaning your face.
  7. Save gift bags and boxes for future use.
  8. Spend more time outside.
  9. Read your favourite newspaper publications online instead of reading the paper versions.

*Just for fun – take a look at Google’s Doodly for Earth Day 2020! https://g.co/doodle/mcmbu

If all of us do a little bit, improve each thing we do with 1%, imagine the global effect we can have!

Please share YOUR ideas with us!

Have a happy, healthy and safe Earth Day.