One of the country’s leading Insurance companies, Old Mutual Malawi has launched the 2023 bridal shower financial education campaign which aims at helping the newly wedded couple embark on their marital journey with a strong financial foundation.
The campaign will see prospective couples trained on financial matters for free and the free session will be conducted at their bridal shower. Booking for the said session is free.
Speaking at a recent bridal shower of Lywell and Nollah, where the launch took place, Old Mutual Financial Education Manager, Bernard Chiluzi highlighted a number of key principals for couples to attend a strong financial foundation and one of such issues being Open Communication.
On this point, Chiluzi encouraged the couple to openly discuss their financial goals, priorities, and spending habits. Creating a joint budget that aligns with their shared aspirations, saying this is a powerful step towards financial unity.
Chiluzi also underscored the significance of building an emergency fund by couples.
“This fund should be capable of covering three to six months’ worth of living expenses, acting as a vital financial safety net during challenging times,” said Chiluzi.
He also touched on issues like setting financial goals for couples, spending below means, saving for retirement, seeking professional advice, automating savings, review and adjustment, Celebrating Milestones and also prioritizing debt.
Chiluzi went further to urge the couple to secure comprehensive insurance coverage, including funeral, life, health, and general insurance.
He then hinted that financial stability is a journey, not a destination.
“By adhering to these principles and working together, newlywed couples can build a solid financial foundation that supports their dreams and aspirations,” said Chiluzi.
Meanwhile, Chiluzi has urged those interested for the free session to start booking.