Old Mutual
Financial Education
John Manyike : 24 November 2011
Our Vision & purpose
To be the leading provider of primary financial solutions in
South Africa
We exist to make a positive difference to the lives of our
clients because we care about them and our country
We help bridge the gap between the resources of our
clients and their financial services needs
 Set people on the path to greatness
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We buy things we don’t want
to impress people we don’t like
with money we don’t have!!!
South African landscape
 75% of disposable income goes to servicing debt (Debt to income ratio).
 4.2 million consumers sit with judgments or listings on credit bureaus

 Over two million consumers have Emolument Attachment Orders
 (Garnishee Orders) attracting monthly installments of R1,bn
 6 000 cars and 2 000 houses are being repossessed monthly
 High levels of indebtedness hinders workers from saving
 Lack of a Savings Culture
Source:
Old Mutual Savings Monitor
National Credit Regulator
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Breaking Old Habits
Symptoms of Financial Stress
 Absenteeism & Presenteeism
 Unnecessary Overtime
 Low productivity
 High levels of employee turnover (Resignations):
 Low Staff morale
 Fraud & Theft
 Workplace Accidents
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SOLUTION
On the Money –
Financial Behaviour Workshops
• OMSA Financial education department accredited by INSETA
• OTM programme is Accredited by BANKSETA
• NQF Level 1 & 3 (Accreditation number 130004)
• SAQA ID 15092: Plan and Manage Personal Finances
• Full-day workshop
• On the Money Lite – half day workshop (Flexible, Can be customized)
• Available in 9 languages
• Workshops include group discussions, video clips and workbook
• Salaried facilitators
Old Mutual’s Financial Education Objectives
•
Improve the economic prospects of ordinary South Africans
•
Educate the wider South African population on responsible financial
behavior and to enable them to make informed decisions.
•
Provide South Africans with knowledge and tools around money
management
•
Help the nation break the cycle of generational poverty
•
Help get South Africans out of the debt trap
OVERVIEW OF THE PROGRAMME
THE BIG FIVE SECRETS OF MONEY MANAGAMENT
Overview: The Big 5 Secrets of money management
The Secret of the Lion
The male lion eats first – ahead of the pack.
What does this mean?
Achieving financial freedom will require that you diligently
save regularly by ‘paying yourself first’ i.e. ahead of debt and
any other
spend
The Secret of the Buffalo
The mighty buffalo grows its herd and diligently protects all the members
Of its family by finding strength in numbers
What does this mean?
‘Patience is virtue’ in wealth creation! It’s not about timing the market,
but the time your investment spends in the market that assures real
Growth. Allow your savings to grow steadily by earning interest over
Time.
The Secret of the Leopard
The leopard never lets its prey out of its sight, patiently planning and
Moving towards its goal, never backing off, and staying focused.
What does this mean?
We need to have a clear financial vision followed by a detailed plan with
Regards to the incremental steps required to edge us closer to our endGoal, so that we can achieve our dreams.
Overview: The Big 5 Secrets of money management
The Secret of the Rhino
The rhino’s secret is to charge when confronted by danger. When
threatened, it works out what its biggest threats are and charges it
down, taking swift control of the situation.
What does this mean?
Debt is our biggest enemy – financially speaking. Hence, we need to
systematically identify those debt items that attract the highest
interest charges, and eliminate them so we can plan better for the
golden years.
The Secret of the Elephant
You know the saying, “The elephant never forgets’. Its knowledge,
aided by its memory, is its power.
What does this mean?
In order not to forget, we as human beings, need to write ‘things’
down. The budget records each and every financial transaction
we encounter daily, thus ensuring that we learn what we earn,
know what we owe and fully comprehend what we spend.
The benefits of On the Money Programme to Unions
Benefits
• Empower members with money management skills to enable them to make
informed financial decisions
• Support the Union to help fight the frontiers of poverty
• Demonstration of thought leadership
• Association with a good cause
• Position the Union as a progressive Union
• On the Money Certificates
• Facilitation of debt consolidation and Debt Counselling in line with NCA.
The On the Money Proposition to Employers
Benefits
• Take advantage of the window of opportunity to empower employees at no cost
• Charge down the rate of garnishee orders
• Reduce the rate of absenteeism/ presenteeism
• Mitigate the risk of Fraud & theft
• Centralized reporting and stats
• Certificate of attendance
• Integrate OTM offering to the companies wellness programme
• Incorporate OTM programme to the company’s training strategy & plan : skills
development levy
- WSP & ATR
 Old Mutual and Soul city has formed a partnership
 Soul City has integrated Old Mutual’s financial literacy theme & story line in their
next series starting on the 18th October 2011

Old Mutual developed content in partnership with Soul City - using OTM booklet ,
DVDs & independent research

Old Mutual can communicate responsible financial behavior & positively influence
financial habits and behaviors on this platform reaching an audience of over 23 million
people in S.A
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 Soul City is one of SA’s most popular & universally loved local television
series (now in its 11th year)
 Educational drama – ‘edutainment’ - health & life skills - high audience
approval and credibility – characters are icons
 Supported by integrated mass media programme including radio, print
booklets and outreach activities.
© Copyright thewinwingroup