FINANCIAL GUIDE FOR GERT SIBANDE TVET COLLEGE STUDENTS
Preface:

As Financial Aid Office fellow student it is of our responsibility as you approach your young adult stage to educate, counsel and inform you about making smart financial decision. Our expression is influenced with the monies we expose  you to with the bursaries that we assist you with on your studies

The impact of making bad financial decisions can affect the you for the rest of your life if you do not have relevant knowledge in relation to managing and understanding your finances, we are not against you having fun but we are into making you realise the difference of financial security and financial insecurities that can lead you to being unsatisfied with yourself.
Keep in mind the things that are important to you today cannot be important tomorrow, you are now taking responsibility of being an adult and you will go through different stages of lie, from studies, it will be establishing your career, acquiring a home, vehicle, marriage kids and finally it will be you getting old having to retire. The sad part is that when you retire from your job you don’t retire from living, THE QUISTION on you will be how you will survive after your working life
Tips below are for you to consider while you have time, be financially smart and prepare.

Getting to know how to use my bursary money efficiently and responsibly

  • Rather pay your accommodation in advance than to use the money for something else and struggle later with payments of your accommodation/transport.
  • Request a lease agreement/contract from the landlord (it should be done in writing)
  • If you pay your rent in advance get the written proof from your landlord and keep your deposit slip if payment is made from the bank
  • Attempt to get value for money and look for the best possible accommodation closest to your Campus.
  • Ask for Financial Advice or Counselling from your financial aid office
  • Your Bank can also give financial Advice
  • Talk to your parents  or close relatives about financial management
  • Draw up a budget each month, try to stick to the items budgeted for.
  • Do not spent unnecessarily and end-up compromising important things

Financial planning: Managing your finances and budgeting

What is it you need to know?

–        Your Financial Future (Priorities)

  • Home
  • Car
  • Kids
  • Retirement

–        Your Personal Finances (Basic needs )

  • Clothes
  • Food
  • Luxuries, i.e Airtime, Perfume, cologne

–        Your Debt

–        Bad reasons for incurring a debt

  • You want to impress your peers/friends
  • You want to compete
  • You want to buy something because everybody else has it
  • You want to be in fashion
  • You want to maintain high standard

–        Good reason for incurring debt

  • You want to pay for your Education, studies
  • You need something and you will be able to repay back

–        Budget

  • Avoid saving when you old start early as possible
  • Funeral cover exposure
  • Know your Income and Expenditure

–        Banks

  • Learn to choose banks
  • Knowing type of accounts
  • Considering charges and convenience of the bank you choose

–        Affordable funeral cover for me should anything happen

  • Avoid being a burden to your loved ones be a smart student

 

IMPORTANT: Please help us to help you achieve your academic goals and build your career and become a responsible citizen of South Africa.

For more information on touched money matters above please see your nearest Student Support Service at your four campuses request for GERT SIBANDE STUDENT Present for the future FINANCIAL GUIDE brochure 2013-2014 or contact Central office @ (017) 712 9040 , Andile Msibi email@ andile@gsc4u.com or  Bongane Mwale @ mwale@gscolloge.co.za