A bright and colorful cover welcomes you when you meet the Stokvels book. It is packed with insights and financial tips that can help to improve the status of our finances regardless of age or even bank balance.
This money book can be used a practical guide for financial wellness in our homes and communities at large. Everyone needs a little financial advice now and then in order to keep their house in order and Palesa gives us sufficient information that can help us to learn more on growing our money in a group using the power of numbers to enjoy the benefits of a stokvel.
The concept of Stokvels has been around for ages and here it is broken down to its simplest form by providing a detailed history. A way of living that has generated millions of rands year in and year out which has benefited thousands of families. Many successful people have studied their way from first year up to graduation through the provision of stokvels which our grandparents were part of for a long time back in the days.
Many businesses were started this way too and stokvels are still active to this day. These stokvels are started and used to various financial goals depending on the group.
Financial management and investments are an important aspect of our daily lives and if we begin learning about it from a younger age then we have an opportunity of reaping the benefits from the knowledge over a period of time. Basically, it is never too late to start educating ourselves with money matters and changing our spending habits.
It is certainly true that we all come from different backgrounds therefore the way we conduct our financial affairs will always differ. It is also vital that we acknowledge these differences and take that as an opportunity to learn from others who have travelled this road before us and through their experiences.
Stokvels is a gem and one of the most relevant books that tackles and breaks down the topic of finance and can be easily understood especially in the local context. The language is simplified and the jargon is broken down by providing meanings to those terms which are commonly used in the financial industry. Various investments products are also detailed from Easy Equities, Bonds, ETFs to Stock Markets.
Institutions and various financial products which are offered there, have been included for us with traceable contact details and websites. It is safe to say that the book is not scary or intimidating as the subject of money is to many people in our black community. Instead, it works as a tool to empower those who are willing to utilize it carefully to their own advancement.
Stokvels can be a conversation starter in some families where finances are not discussed openly, because the book has the potential to bring people together under a common goal and vision. Anyone can start or join a stokvel but it is important to do some form of research and equip yourself with the right information first before committing to anything. Stokvels are truly a powerful economic tool that contributes great amounts of income for those who know and take part if one or two!
Whether you are a beginner or just looking to improve your finances – this book is definitely for you and it’s worth every rand that you spend on it.
Thokozani!