Mellony Ramalho, executive for sales, branch network at African Bank, said since October was Financial Planning Month it was important to acknowledge the role that financial advisers play when it comes to being money-savvy.
“If you are considering a loan, one of the first things you should do is speak to a professional. We speak to experts when buying a car or considering a medical procedure, for example, so the same should apply to our money.
“There are many financial experts at your bank who would be more than willing to talk you through the ins and outs of loans and what would make the most sense for you. Otherwise, speak to a family member or a friend you trust and who is financially savvy and ask for their advice.”
Ramalho offered these five tips: