A Christmas Well Spent & Lessons in Financial Wellness
What can you say is a Christmas well spent?
I personally feel a successful Christmas is in essence being surrounded with family and friends.
When you are in the presence of people whom you hold dearest, the atmosphere is warming.
I think the gathering of loved ones to appreciate and share the one moment in the year all the family are together is precious.
Do you sometimes feel happy or guilty about spending money on yourself?
You know I always say there has to be a balance in life. To find the right balance that works for you is important.
If you choose to spend money on yourself, then spend wisely and in moderation.
If you know that you don’t have enough money to be spending on yourself, then don’t.
If you know that it won’t impact your financial situation in the long run, then it’s okay.
Why is it ok to spend money on yourself?
Your financial stability should be taken into consideration when you evaluate if it is right for you to spend on yourself.
Budgeting is extremely important when deciding if you can afford an item or not.
I feel if you do have the finances to purchase a desired product and it won’t affect your long-term finances, then go for it—use it as a reward system.
If you feel that specific purchase will hurt your bank account and leave you with cash flow issues, paying bills, and affording the basics, then rather wait until your financial situation improves.
What was the biggest spending regret over the previous Christmas?
It would be the social spending; I spent far more than I expected socialising with friends and family.
I did not have a clear budget for entertainment from the start of the festive season, so my spending was not controlled.
Did all your Christmas spending go according to plan/budget?
The problem with the Christmas period is that most people, including myself, get excited and carried away because it's only once a year.
So we allow ourselves to create an exception with our finances.
We create an excuse for excessive spending—"I mean, it only comes around once a year, right?"
These excuses expand to all spending categories: presents, food, entertainment, and travel, which we allow to go over budget.
So when it comes to the festive season, I would recommend creating a plan of expenditure in order to control where your money goes.
You don’t want to be in a dilemma when the New Year starts and not have funds for the basics.
What is your personal financial motto?
“Making money is easy, keeping it is the hard part.”
Give a word of encouragement on financial recovery?
Listen—everyone in their lifetime will make some massive mistakes.
The problem is not making the mistake, it’s understanding how you made that mistake and why you now find yourself in a financial dilemma.
It’s very important to admit that you are not perfect and mistakes will be made. That is life.
You need to pick yourself up and start again. But before starting again, make sure you have learnt and promised yourself that this will never happen again.
It's ok to fall—it builds character. It’s how you pick yourself up and never fall like that again that counts.
— Aaron Hamilton
“When you are in the presence of people whom you hold dearest, the atmosphere is warming.”
We are all familiar with the January rush and stress by now.
For some, it’s just another month with more responsibilities.
For most, it’s “JanuWorry” — a month of worries.
Frustration creeps in when parents have to buy schoolbooks and pay school fees in a short period of time.
The insurance industry also tends to be relatively quiet, affected by the reduced spending power of consumers who eagerly await the light at the end of January.
As we embark on a prosperous new year, the importance of having insurance cover cannot be overemphasised, as this is also a critical element of financial planning.
The Namibian insurance industry provides a wide range of insurance products, ranging from short-term (asset insurance for cars, houses, and other property) to long-term cover, better known as life insurance, which includes disability cover, death cover, and funeral cover.
Following are some of the basic tools that consumers can use when shopping around for insurance:
• Ensure that the insurance policy covers your needs. Before signing, read the key features thoroughly.
• If anything is unclear, ask the broker or agent to explain in plain language.
• When applying, answer all questions truthfully. Inaccurate info can void your contract.
• Only deal with registered brokers or agents. Ask for proof of NAMFISA registration.
• Compare premiums and policy benefits to get the best value for your money.
• Never sign blank application forms.
Consumers are encouraged to approach brokers, agents, and insurers to educate themselves about available products.
NAMFISA remains committed to ensuring that the insurance industry is well-regulated and consumer-friendly, under the Short-term Insurance Act 4 of 1998 and Long-term Insurance Act 5 of 1998.
I personally feel a successful Christmas is in essence being surrounded with family and friends.
When you are in the presence of people whom you hold dearest, the atmosphere is warming.
I think the gathering of loved ones to appreciate and share the one moment in the year all the family are together is precious.
Do you sometimes feel happy or guilty about spending money on yourself?
You know I always say there has to be a balance in life. To find the right balance that works for you is important.
If you choose to spend money on yourself, then spend wisely and in moderation.
If you know that you don’t have enough money to be spending on yourself, then don’t.
If you know that it won’t impact your financial situation in the long run, then it’s okay.
Why is it ok to spend money on yourself?
Your financial stability should be taken into consideration when you evaluate if it is right for you to spend on yourself.
Budgeting is extremely important when deciding if you can afford an item or not.
I feel if you do have the finances to purchase a desired product and it won’t affect your long-term finances, then go for it—use it as a reward system.
If you feel that specific purchase will hurt your bank account and leave you with cash flow issues, paying bills, and affording the basics, then rather wait until your financial situation improves.
What was the biggest spending regret over the previous Christmas?
It would be the social spending; I spent far more than I expected socialising with friends and family.
I did not have a clear budget for entertainment from the start of the festive season, so my spending was not controlled.
Did all your Christmas spending go according to plan/budget?
The problem with the Christmas period is that most people, including myself, get excited and carried away because it's only once a year.
So we allow ourselves to create an exception with our finances.
We create an excuse for excessive spending—"I mean, it only comes around once a year, right?"
These excuses expand to all spending categories: presents, food, entertainment, and travel, which we allow to go over budget.
So when it comes to the festive season, I would recommend creating a plan of expenditure in order to control where your money goes.
You don’t want to be in a dilemma when the New Year starts and not have funds for the basics.
What is your personal financial motto?
“Making money is easy, keeping it is the hard part.”
Give a word of encouragement on financial recovery?
Listen—everyone in their lifetime will make some massive mistakes.
The problem is not making the mistake, it’s understanding how you made that mistake and why you now find yourself in a financial dilemma.
It’s very important to admit that you are not perfect and mistakes will be made. That is life.
You need to pick yourself up and start again. But before starting again, make sure you have learnt and promised yourself that this will never happen again.
It's ok to fall—it builds character. It’s how you pick yourself up and never fall like that again that counts.
— Aaron Hamilton
“When you are in the presence of people whom you hold dearest, the atmosphere is warming.”
We are all familiar with the January rush and stress by now.
For some, it’s just another month with more responsibilities.
For most, it’s “JanuWorry” — a month of worries.
Frustration creeps in when parents have to buy schoolbooks and pay school fees in a short period of time.
The insurance industry also tends to be relatively quiet, affected by the reduced spending power of consumers who eagerly await the light at the end of January.
As we embark on a prosperous new year, the importance of having insurance cover cannot be overemphasised, as this is also a critical element of financial planning.
The Namibian insurance industry provides a wide range of insurance products, ranging from short-term (asset insurance for cars, houses, and other property) to long-term cover, better known as life insurance, which includes disability cover, death cover, and funeral cover.
Following are some of the basic tools that consumers can use when shopping around for insurance:
• Ensure that the insurance policy covers your needs. Before signing, read the key features thoroughly.
• If anything is unclear, ask the broker or agent to explain in plain language.
• When applying, answer all questions truthfully. Inaccurate info can void your contract.
• Only deal with registered brokers or agents. Ask for proof of NAMFISA registration.
• Compare premiums and policy benefits to get the best value for your money.
• Never sign blank application forms.
Consumers are encouraged to approach brokers, agents, and insurers to educate themselves about available products.
NAMFISA remains committed to ensuring that the insurance industry is well-regulated and consumer-friendly, under the Short-term Insurance Act 4 of 1998 and Long-term Insurance Act 5 of 1998.
“Making money is easy, keeping it is the hard part.
And it’s true—saving, planning, and being financially responsible takes discipline."
If you’re recovering from a financial misstep, don’t be too hard on yourself. Mistakes happen. What matters most is that you learn from them, pick yourself up, and move forward with better habits.
As we begin a new year, don’t forget the importance of planning—not just for holidays, but for your overall financial well-being. That includes things like insurance—cover for your car, home, health, or life. Insurance is more than a monthly premium; it’s protection for your future.
Before taking out any policy:
Before taking out any policy:
Start the year right—plan better, spend wiser, and protect what matters.
Because financial peace of mind is the best gift you can give yourself.
Yours sincerely,
GENERAL MANAGER: INSURANCE DIVISION
GENERAL MANAGER: INSURANCE DIVISION
