Money Smart Week SA: Smarter Financial Planning Insights

Qualified and certified financial planners are available to help you work towards financial confidence. At Milpark, the lecturers are not just educators, but financial planning professionals who train other credible financial planners.

Leanne Ferreira is a Certified Financial Planner (CFP®) and looks after the Department for Financial Planning at Milpark. She points out that “skilled financial planners don’t simply offer advice, but work with you to understand your financial position and build the knowledge and skills you need to make informed financial decisions and manage your money responsibly.”

Ashley Lachenicht (CFP®) is a Financial Services lecturer with more than a decade of experience helping individuals, businesses, and students navigate their finances. She says her own financial plan is like a compass that guides every financial decision she makes. “A qualified financial planner will help you develop a financial plan for both short- and long-term needs, as well as a budget that supports your financial goals.”

Ronel Botes is also one of the lecturing team who combines academic expertise with practical financial planning knowledge. Ronel points out that financial education cannot only happen at tertiary level and that “money must be discussed at home” so that children learn to understand money and manage it well from an early age.

Leanne emphasises that “the smallest smart money habits can have the biggest impact,” so here are some habits that can help anyone towards financial confidence.

Habit 1: Know Where Your Money Is Going

“A budget is not just something you save in a folder and forget about. It needs to be active and inform every financial decision you make,” says Ashley.

Ensuring that you have a budget, being aware of it daily and spending intentionally is, as radio personality and financial planner, Dave Ramsey, puts it “telling your money where to go instead of wondering where it went.”

Habit 2: Deal with debt before it grows

“Paying off your debts and consciously balancing wants versus needs is a vital first step in being money smart,” comments Leanne. “If there is something you want to buy, ask yourself if you really need it.”

Ronel warns that defaulting on debt repayments ends up costing consumers far more than they realise. “You are paying interest on interest. So why not pay off your debt, starting with the most expensive debt, cut back on items you don’t need, especially luxuries, and live within your means?”

Habit 3: Get professional financial advice

As mentioned above, a qualified financial planner will help you develop a financial plan for both short and long-term needs.

Be sure to work with a certified financial planner as many so-called financial planners do not hold formal qualifications, as Leanne cautions.

Holistic financial planning with a qualified professional will end up saving you money in the long run.

Habit 4: Start early

As with any good habit, starting earlier than later is the best way to ensure long-term sustainability.

According to Leanne, “parents need to teach their children about money. Children need to understand that money comes in, money goes out, and in between that, you need to save.”

Family conversations that explain the family budget are practical ways of ensuring that children are able to apply the best skills in their own finances one day.

Ignoring debt, avoiding our financial realities and maintaining an unsustainable lifestyle don’t simply result in emotional stress, but cannot result in financial confidence and security.

“Your financial worries may feel overwhelming,” says Ronel. “But don’t put your head in the sand. It won’t help. Rather, face the facts and seek professional financial planning advice.”

As the financial landscape we’re in becomes increasingly complex with, amongst other considerations, various policies, cryptocurrencies, fintech and other investments, qualified financial advisors are becoming equally important.

The growing demand for financial planners means that there are people calling themselves financial planners without the necessary qualifications. Ensure that your financial planner is qualified and registered as a (CFP®) and has studied with a reputable institution, like Milpark.

Good financial planning can bring you the financial confidence that enables you to manage and change your life for the better. Because it helps individuals and businesses make informed decisions, manage risk and plan confidently for the future, it is a key part of Milpark and why the demand for qualified financial planners continues to grow.

Milpark prepares graduates, like Milandré Roberts, with the practical knowledge and recognised qualifications to meet that need. Through its Higher Certificate, Advanced Certificate, Bachelor of Commerce majoring in Financial Planning, and Postgraduate Diploma in Financial Planning, graduates learn to analyse financial products, review insurance, understand risk, balance debt and growth, optimise finances, improve saving habits, and plan for retirement with confidence.

MSWSA reminds us that better financial decisions begin with simple, consistent habits. Whether you want to improve your own financial wellbeing or build a career helping others do the same, every step counts.

As Leanne says, "being money smart starts small, and it starts with you” and this year's MSWSA theme, "The Power of Possible", reflects what informed financial decisions can achieve.

If you're ready to make a difference, explore Milpark's Financial Planning qualifications.