Last Will and Testament, Life Insurance, Medical Aid, Momentum Multiply, Savings, Short Term Insurance

Janu-worry 2021

With Janu-worry almost behind us, we can start focusing on the year ahead. Hopefully the schools are about to start, and some form of normalcy are to return! Count yourself lucky if you are still working from home – especially in this weather we are currently experiencing in Gauteng!

October 2021 will see the 4th post-apartheid cencus take place in South Africa, and we have municipal elections coming up – and possibly a vaccine…Tax are being relooked, and according to the Big Mac Index, the South African rand is undervalued by 61.9%, which is the fourth most undervalued currency measured by the index in July.

Using the raw data, a Big Mac costs R33.50 in South Africa and $5.66 in the United States. The implied exchange rate is R5.92 to the dollar.

Japan is still dead-set on hosting the Olympics from 23 July – 8 August 2021, and many others are holding out hope for an overseas holiday this year!

These are all out of our immediate control, but what we can control is our finances. Shop around for better short term insurance quotes and benefits, make sure your last will and testament is up to date and your savings pocket is growing, get rewarded for being active and looking after ourselves, and in turn, spending those rewards on what matter most!

Momentum-Multiply-Rewards
Momentum Multiply – rewarding you for looking after yourself.

Momentum Irene would love to be of service to you on your financial wellness journey. Feel free to connect with us on any of our platforms, and we will come to you – masked and all! If you would prefer a Zoom or Teams introduction, that can also be arranged.

We wish you a magnificent, healthy, prosperous 2021, and look forward to meet up for a coffee (even if it is virtual).

Momentum-Irene-Financial-Wellness-Consultation
Financial Wellness consultations can be in person or online.
Medical Aid

ARE YOU PREPARED?

You had this perfect plan. Or we had. Fall in love, get married and then, when you are ready, start a family! But life likes to throw some lemons our way every now and again, and things just doesn’t work the way we would like it to. (Maybe because we don’t have a spare bottle of tequila hidden in a cupboard somewhere)

My wife recently had to go for an operation, as we are struggling to start that family (although we are very happily trying to!) We have been to a variety of doctors, who prescribed different blood tests, different medications, taking temperatures and what not. All of which has not been successful.

We finally made it to this one lady doctor, who suggested we take a deeper look. What we found is not what is important, but what is, is that the consultation with this doctor (ONLY the consultation, that lasted about 20 minutes) was R2 000. That is a very real number, especially if you compare it to medical aid rates, and that it fell way outside of what the Medical Aid was prepared to pay for. It was a cash account.

We then had to get pre-approval for the procedure, and that had a R3 000 co-payment. Also cash.

This is us, R5 000 out of pocket, before we even know if something is wrong, never mind what is wrong.

Luckily for us, thanks to an active lifestyle and a positive health saver balance, we could pay for the consultation with the Multiply Visa Card, as it works like a normal Visa Card. We also have additional Gap cover added to our Medical Aid Plan that covered the shortfall in hospital.

Were we prepared? Probably not mentally or physically, but at least we could afford it without breaking our own little piggy open.