Tell us a little about yourself.
I’m originally from Welkom in the Free State and raised by a single mother. I’m married and have two handsome young sons.

Tell us about your career trajectory and how it has impacted your finances.
I‘ve always wanted to be employed by a successful company. Post-varsity, my first job came from working for one of the leading financial institutions within the banking sector, which gave me the upper hand with my personal finances, as I am where I want to be.

What are your biggest expenses every month?
School fees for my two young boys, aged five and two. I’m blessed to [be able to] put them through the private education system. Additional costs are associated with their extramural activities.

How are you teaching your children about the value of money and the importance of saving?
By saving a little every month and tapping into funds only when I need to so I can always be financially independent. Both my boys have piggy banks and receive coins for every chore or good deed. For me, it’s important that they understand that money needs to be earned for them to truly value it. This gives me the reassurance that I am on the right track with teaching them the importance of saving.

What are the best, practical, investment tips you have received?
The best advice was from my mum, who advised me to open an investment account at a very early age and I’ve been very disciplined in depositing a portion of my income into it every month. I’ve also received good financial guidance and investment tips from my husband, who’s a true inspiration to me. Together, he and I own three properties. Investing in property can generate an ongoing passive income and can be a good long-term investment if its value increases exponentially over time.

What long-term investments have you put in place for your future?
To be honest, I do get a bit nervous when I think about retirement and often ask myself “Am I doing enough right now to ensure that I will be financially free at retirement?” I do have a retirement policy, but I am not sure if the policy is structured in the best way to meet all my needs. This is also considering the fluctuating rand and the economic performance of our country.

You’ve been chosen as a Tammy Taylor Mrs South Africa finalist, which involves a lot of charity work. How has this impacted on your personal finances, if at all?
From a personal finance point of view, I am passionate about giving back. I have been blessed to be a blessing – it’s in my heart to serve and give back and the reward is far greater than monetary gain. It is important for me to partner with like-minded people and sell my brand by getting organisations to buy into my service. People tend to buy into brands and causes that they can related to and as a result, these organisations come forward from a sponsorship perspective.

Liberty financial adviser Boitumelo Mothoagae offers Strever tips so she can continue giving her children the best education.

On Strever’s current state of finances
Enolicia seems to have a good grounding from a financial planning perspective. She has been disciplined in saving part of her income from an early age, has invested in property and has started saving towards retirement via a retirement annuity (RA).

On having a stronger financial plan
In order to ascertain where she is in her financial planning, she will have to consult with an accredited financial adviser (FA) to do a financial needs analysis. A good FA will be able to come up with a financial plan that is tailor-made and suited to her own financial situation.

The analysis should consider any benefits (pension/provident fund, group life cover, disability cover, etc) that her current employer may have that will augment her financial planning.

If there are shortfalls, then they may have to increase her savings or RA premiums or take up risk policies to ensure that they are addressed. Taking into consideration their large property portfolio, she may also need to review her estate planning, especially in light of her marital status.

On her children’s education:
She says that her biggest expense is her children’s education, as they are in a private institution. At present, they are still in nursery school, which means that these costs are only going to escalate as they get older due to education inflation being high.

Private primary school costs range from R25 000-R135 000 per annum (pa), while high school can cost from R136 000-R255 000 pa (excluding boarding fees). This means that if she wants her children to continue in private school, she may have to review the education part of her financial plan to ensure that she will be able to pay for it.

She may also want to start an education plan policy for their high school and/or tertiary education. From a risk cover perspective, she can explore the Educator benefit, which will ensure that her children’s educational needs are taken care of should anything (death or disability) happen to her or her husband.

Liberty offers #RealLifeAdvice for women of all ages.

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