Momentum drew on its latest Momentum Unisa Consumer Financial Vulnerability Index, to provide financial advice to the Starting-Out customer segment. Momentum outlined four common mistakes young people make, that they regret in the future. This includes delaying saving for retirement, not setting up an emergency fund, using credit as money and not having medical aid, life and disability cover. Momentum stated that the likelihood of running into financial trouble is high, giving the rising cost of living. However, speaking to a financial advisor can assist in consolidating debt, creating a retirement plan and an insurance portfolio.
