Nedbank helps young professionals elevate their financial decision-making

The current tough economic climate requires that everyone revaluates their relationship with money to instil a more disciplined approach as far as making the right choices is concerned.

That’s why the latest in Nedbank Private Clients’ series of “off-the-menu” experiences, hosted in partnership with TimesLIVE, focused on how young professionals can elevate their financial decision-making.  

These exclusive events aim to bring like-minded young professionals from different industries together to network. They’re also an opportunity for future captains of industry to glean insights from inspirational thought leaders. 

The most recent event included an informative panel discussion — watch the recording below — led by the evening’s emcee, digital entrepreneur Aurelia Nxumalo. She was joined by celebs Mbali Sebapu and Zamani Mbatha, who talked about the financial life lessons they’ve learnt, as well as Nedbank’s Tracy Afonso, who highlighted how the bank’s Private Client offerings can help young professionals navigate financial decisions.

Social media influencer Sebapu is the founder and CEO of Hermosa Flor Cosmetics, a business she established in 2019 after quitting her job with the South African National Defence Force (SANDF). 

Sebapu admitted that it was very tempting to start spending when she was paid out her SANDF pension, but her brother advised her to rather invest the money in her new business. So, in anticipation of opening her new venture, she did marketing and makeup courses and travelled to China to evaluate prospective suppliers. 

Hermosa Flor Cosmetics has been operational for three years and is starting to gain traction. Sebapu said she’s learnt many lessons along the way, particularly because she had not been exposed to money management in her previous career. “I’ve learnt to be prepared for unexpected expenses, not to make unnecessary purchases and to save for big ticket items,” she said.

Fellow panellist, Mbatha, is an actor. He was fortunate to land a well-paying job straight out of school. Eager to fit in socially, and with a desire to dress well, he managed to blow his entire salary by the 20th of each month. When his sister discovered how much he was earning, she sat him down and encouraged him to start saving, even if it was just a small amount each month.

Embarking on a savings journey has taught Mbatha to become financially disciplined and to avoid debt. He’s now in a position where he sleeps much easier knowing he’s made the right financial decisions. 

Afonso, Private Clients executive at Nedbank, explained how the bank’s offerings can help young professionals to elevate their financial decision-making.

Young professionals are offered an impressive range of private banking perks at Nedbank. This includes being assigned a dedicated relationship banker, who can help customers navigate financial decisions concerning things such as asset finance, or provide an introduction to a wealth adviser to advise about investments and retirement planning.

Afonso added, “Nedbank Private Clients is digital when you want it and human when you need it— we’ve got a world-class Money app and online banking with lots of value-added services.

“We’ve made a great deal of effort to digitise our services in response to client needs, which lead to Nedbank being recognised as the Best Private Bank for digital services in Africa at the 2022 Professional Wealth Management Wealth Tech Awards.”

There is no income criteria to join Nedbank Private Clients as a young professional, which the company defines as being someone under the age of 30 who has a minimum of a four-year degree or honours-level qualification (NQF 8). What’s more, such future captains of industry are offered a 50% discount on their monthly banking fees.

For sound advice on money management, investing, retirement planning and how to improve your credit score, Afonso also advised the young professionals in the audience to access Nedbank’s Essential Guide to Money Management. Click here to view and download this valuable guide.

This article was paid for by Nedbank Private Clients.