If you could ask a financial advisor one thing, what would it be?

July 31, 2018

There’s a reason I don’t go to a financial advisor. Not because I don’t think they’re awesome and can help me save more and do smarter things with my money other than buying makeup, but because I’m terrified. Will they judge me? Will they scold me? Is any question too dumb? Can I face the news that if I retire I won’t be able to shop at Woolworths because I haven’t saved enough? And will they make me feel even worse that I haven’t put away a lot of money for my kids’ education?

I know it’s not really like this, but neurotic me is neurotic. I know some great financial advisors, and I’ve actually worked with some who are kind and smart and offer great advice, and who don’t judge you, nor get angry over your next shoe purchase.

If ever there was a time for me to curb the shoe buying, it’s now. I have two kids, and I’m doing them no favours by getting into credit card debt, or worse, not giving them a decent start with education and beyond. I don’t really want my kids to have to pay for their own university fees, not be at great schools, or be left with my debts when I die?

And yes, I am helped immensely by my husband, but that’s no reason to get complacent. Through my work with financial institutions in PR, I’ve come across scary stories – women who were left with virtually no money when their husbands died because of debts they didn’t know about, wills that didn’t have the right information, and lack of life insurance.

If there’s one thing I know, from what I’ve learnt and listened to, and even experienced after my first divorce, it’s that you need to be financially sorted as a mom – by looking after your finances, having a will and life insurance, and being aware of your husband’s policies and situation (I wrote more about financial basics here).

I’ve been working with Hero Life, who are not only the nicest financial go-to guys, but have a new’ish insurtech company, providing life insurance to new or young parents. They’re part of MMI Holdings and Momentum, so they’re legit and operate under an authorised financial services provider (this is critical for me – they are legit!).

One of their services is a WhatsApp facility – you simply WhatsApp a number, and the team chats to you, and offers some financial basics digitally. It’s easier than Googling, and you have some financial advice on your phone – there’s no cost either! You can also ask some questions, within reason (ie, don’t ask “How can I get rich overnight and get rid of my debt now?”) and the only conversation is between you and Hero Life – this is not a WhatsApp group per se, and you won’t get ads, or moms asking random questions and sharing pics of their kids.

The number is +27 73 916 9367 – you simply WhatsApp it, and one of the Hero Life founders will reply. Here’s a snippet of some of the conversation I recently had with them:

It’s relaxed, useful and non-intimidating, and it’s a good source for great info and tips, so it’s really worth a try.

My best part though was this…

For more information on Hero Life and their services, click here.

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