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Make Savings A Habit To Secure Your Future

Make Savings A Habit To Secure Your Future
April 25
13:38 2018

Saving may not be a natural habit, but people of Fiji should start cultivating it sooner rather than later.

Saving money is one of those things that is easier said than done.

It is easy to say that you will save money every week and every month but at the end of the said pe­riod there’s no money left to save. This is a common problem.

That is why it is important to make yourself de­velop a habit for saving when it comes to money.

Shocking statistics from the Fiji National Provi­dent Fund show that approximately 73 per cent of its members have balances of $10,000 or less.

The low member balances, specifically for those nearing retirement age, has become an ongoing challenge for the Fund.

The problem is and it’s a fact that many Fijians are not planning and preparing for a happy and relax­ing retirement and end up living below the poverty line.

This has led the Financial Literacy Working Group of the National Financial Inclusion Taskforce to partner with the FNPF, the Reserve Bank of Fiji and the UN’s Pacific Financial Inclusion Programme (PFIP) to create an awareness campaign on the dire need to save for retirement.

The Retirement Expo, currently on at the FNPF Downtown Boulevard, allows the public to seek ad­vice on retirement planning, find out how to start a business, obtain information on the various gov­ernment grant schemes available and on financial products such as insurance, investments and loans that could help supplement FNPF savings.

Doors open from 9am to 4pm and it ends on Friday.

If you have questions about anything and every­thing there are 23 exhibitors at the expo who are there to help you.

You have ANZ, BSP Life, BSP Bank, BRED, FNPF, Fiji Public Trustee Corporation, FDB, HFC Bank, iTaukei Affairs Board, ITLTB, Kontiki Finance, Ministry of Agriculture, Ministry of Lands & Min­eral Resources, Ministry of iTaukei Affairs, NC­SMED, SPBD, Unit Trust of Fiji, Westpac, Fijian Holdings Unit Trust, Merchant Finance, Housing Authority, South Pacific Stock Exchange and the Re­serve Bank of Fiji.

So don’t miss out on the one-stop shop expo that can and may change your future.

Make a choice now to avoid regretting it in the fu­ture; help yourself by choosing to save money over unnecessary spending of money.

Start by thinking about your future, develop a smart savings habit and remind yourself that sav­ing money is the key to developing financial secu­rity.

MARAIA VULA

Feedback: maraia.vula@fijisun.com.fj

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