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Social distancing saves lives, it can also save you money - financial planner

23 March 2020 12:33 PM

There's a silver lining to social distancing. You can save more money.

Being homebound could benefit your finances, says certified financial planner Paul Roelofse.

Many people who routinely spend money on dining out, happy hours, movie dates, live concerts, and other types of entertainment, will give spending a break.

Roelofse says social distancing also places restrictions on grooming and money spent on clothes for social occasions.

In addition, people who work from home will save on commuting costs, be it public transport or a full-tank of fuel for your car.

RELATED: Standard Bank to provide 3-month payment holiday for small business owners

Roelofse has encouraged people to save as much they can amid the uncertainty of the global Covid-19 pandemic, in order to improve their long-term financial situation.

Try and use this as an opportunity. Save the savings, the more you have tucked away, the better piece of mind you're gong to have.

Paul Roelofse, Certified financial planner

We've got a natutral saving thats going to take place.

Paul Roelofse, Certified financial planner

Listen to the discussion on Today with Kieno Kammies for more financial advice:


23 March 2020 12:33 PM

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