Finance minister implores Namibians to do everything possible to live within their means

GOBABIS: The Minister of Finance, Saara Kuugongelwa-Amadhila has implored Namibians to do everything possible to live within their means, as unnecessary spending could be detrimental to their financial standing.

Kuugongelwa-Amadhila made the remarks in a speech delivered on her behalf by Omaheke Regional Governor, Festus Ueitele on Saturday as part of the launch of the Financial Literacy Initiative (FLI) in the Omaheke Region.

The finance minister said Namibians are often lured by credit terms that appear more flexible or affordable than cash payments, which in the end leaves them saddled with debt.

As such, she said, it is vital to plan diligently on how to spend household finances to avoid excessive borrowing and credit terms purchases.

The finance minister used the opportunity to emphasise the importance of a savings culture amongst Namibians as the only way to avoid being entangled in a debt trap.

SOURCE: NAMPA