Financial Wellness Services

Whether personal or in business, finances are an engine that helps us to navigate our everyday lives to meet our personal and business needs.

However, many employees or consumers and families downstream, are indebted and have limited funds to buy the products/goods they need or pay for services they need, produced (upstream by businesses), With limited consumers of goods/products or services produced upstream by businesses due to indebtedness, this situation will not only negatively impact employees or consumers and families, but will also negatively impact cross sector growth (i.e. businesses producing products/goods or providing services) and the country’s economic growth.

In this regard, Lodirile Consulting (Pty) Ltd offers Financial Wellness Services to companies, to coach and equip employees (i.e. their potential consumers) with knowledge and skills to debottleneck their debts, generate financial savings and be able buy the goods they need and/or pay for services they need. With employees (i.e. their potential consumers) having funds to buy the goods they need and/or pay for services they need, businesses can be able to grow and create job or business opportunities. With the flow of money, in turn leading to cross sector growth, growth in the country's economy, reduction of unemployment and making positive social impact.

Furthermore, with employees' debottlenecked debts, this in turn leads to reduction of employees' absenteeism and mental health issues related to financial challenges, leads to improvement in employees' and business performance as well as retention of talent.

The program is also applicable to employees without bad debts but looking for opportunity to acquire knowledge and skills to budget wisely, control their spending and generate and/or grow financial savings. This way, the program is proactive and reduces opportunities of getting into bad debt. Proactive offering of financial wellness program may also assist the company with attraction of top talent and retention of employees.

The program focuses on:

• coaching and equipping clients with knowledge and skills to trace the root causes of financial challenges.
• coaching and equipping clients with knowledge and skills to compile budgets, debt repayment roadmap and roadmap to generate financial savings.
• coaching and equipping clients with strategies to manage their budgets and spending, debottlenecking their debts and generate financial savings to buy the goods they need or pay for services they need.
• coaching clients on using their budgets, debt repayment roadmap and savings roadmap as safety nets to keep themselves on the path to debottleneck their debts and generate financial savings.
• coaching clients to create a dashboard and use knowledge and skills acquired to manage their finances to improve other areas of their lives, like: performance and productivity at work, to name just a few.

Testimonials received from employees who went through Lodirile Consulting's Financial Wellness Program, confirm that with commitment from the company’s side and employees (i.e. consumers) implementing knowledge and skills gained from Financial Wellness sessions, employees are able to debottleneck their debts, generate financial savings and able to buy the goods/products they need or pay for services they need. In turn contributing to business growth and the country’s economic growth.

The Lodirile Consulting (Pty) Ltd Financial Wellness services also benefited our Community Scheme (NPO). During my tenure volunteering as a Trustee for our Community Scheme (NPO, I conducted an assessment on the health of the finances of the Scheme and based on the results, recommended strategies to control spending, eliminate debts and generation of financial savings. Through these strategies, our Scheme managed to generate financial savings and for three financial years implemented zero increase to the monthly levies billed to the owners, to give them temporary financial relief. This is the knowledge and skills that will be shared with SMMEs and other clients to manage their finances and grow their businesses.

In pursuit to help people manage their personal finances from a young age, I was invited as a guest Lecturer at University of Johannesburg, Department of Information and Knowledge Management in March 2023. to make a presentation to the first year students. I am also working with Midrand Higher Primary School to give talks or make presentations to Grade 7s on managing personal finances.

Lodirile Consulting also produces and offers short lessons cards (see attached below) to help employees or consumers to make informed decisions when decisions relating to money matters need to made and to supplement learning beyond financial coaching sessions.