Financial Literacy Week


On 28th March 2017 the Financial Literacy Week (FLW) was launched at Mulungushi Conference Centre, under the theme, “Know and plan your finances for a better life”.
Dr Pelham Haseley addressed the audience and highlighted the current health challenges we are facing in Zambia. She talked about the non-communicable diseases (illnesses that arise largely because of lifestyle, what we eat and drink, smoking and lack of exercise, etc.) She mentioned road traffic accidents, HIV/AIDS and respiratory infections. She also talked about covering the cost of medical treatment.
Dr Pelham spoke from her experience: People fall ill and present themselves at a private clinic but claim they will settle the bill later because the illness was unexpected. Then several default or have to be pursued for months before they pay. Others simply keep a patient at home, who is progressively getting worse, as they try to raise funds for treatment. In one instance when the patient passed away the doctor was told, “Take the bill to the cemetery”. Others will see the doctor then begin to argue over the bill.
This shows that we do not have a culture of saving money and preparing for the future. We are always ready to “put out fires”, but do not use that energy to be prepared. If we learn to plan for our financial needs, we would better handle some of these crises. Savings, investments and various forms of insurance can enable us to deal with these emergencies when they arise, and get back on our feet as soon as possible

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