#WisdomWednesday: How to cope in tough financial times …

For this week’s #WisdomWednesday, the Herald spoke to Frans Lottering, owner and financial adviser of Broker House in Homelake on how to cope in tough financial times.

Earlier on Wednesday, the Herald published an article titled How to save in tough financial times by Budget Insurance who gave savvy money-saving tips. Susan Steward from Budget Insurance said for many South Africans, the increased cost of living is becoming more intense with fuel and food prices rising, as well as the recent increase in electricity, water and municipal tariffs.

According to Frans, people don’t usually stick to their budget and they will rather go and buy take-out instead of preparing a meal at home. His advice is not to drive around unnecessarily – that way you can save on fuel.

Frans also recommended that Randfonteiners rather save up their money for what they want to buy, instead of paying it off.

Frans has been the owner of Broker House since 2000, and has been providing financial services with Old Mutual for 43 years. He does financial planning, wills, life insurance, investments, savings and retirement plans.