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Yowelfare Programme

Financial Education Programme: YoWelfare

It is a financial education programme A practical and personalised service that helps you design and implement your own financial plan, step by step, with the support of a Personal Financial Advisor and tailored to your circumstances.

With the support of a certified Personal Finance Coach, you will work on:

  1. Define your life goals.

  2. Organising your financial resources: balance sheet, profit and loss account and budget.

  3. Design a personalised strategy for each of the following areas: protection, retirement, debt and investment.

  4. Put your plan into action by making coherent, efficient and effective decisions.

  5. Review and update your plan regularly to adapt it to changes in your life.

All in accordance with international quality standards UNI 11402 on financial education for citizens and ISO 22222 personal financial planning.

The Idea:

To have a guide or a set of instructions for drawing up my financial plan.

The Action:

Gain knowledge, tools and support from a personal financial educator and the AEPF.

Areas of the YoWelfare Financial Education Programme

1. Key Objectives

The Idea: Why do I need money today and tomorrow?

Examples:
  • How much does the house I want cost? When could I buy it?
  • How much does the car I need cost? When should I buy it?

The Action: How can I make sure I get what I want?

2. Budgeting

The Idea: How could I save more money? And spend less?

«Saving money doesn’t mean anything in itself. What matters is why you do it: for yourself, for your family, for your future, and for the present.».

The Action: Strategies that can be used.

3. Planning for protection

The Idea: What if I can’t work? Are my family and I protected?
Examples:
  • What would happen if I were to die prematurely?
  • What if I had a serious illness or a disability?
  • How much would it cost to protect my income?
The Action: How can I achieve this and put my mind at rest?

4. Planning for retirement

The Idea: Why do I need money today and tomorrow?

Examples:

  • Is a pension scheme the answer?
  • Should I buy a flat and let it out?
  • Should I just do nothing because I’ll be able to get by on my state pension?
The Action: How can we do something that will be beneficial both today and tomorrow?

5. Planning your borrowing

The Idea: Do I know when and how to take on debt?
Examples:
  • Do I know how to negotiate a mortgage?
  • Is it better to lease or buy?
  • Can I get a better deal on my current mortgage?
The Action: To make the most of debt rather than letting it become a burden.

6. Planning the investment

The Idea: Do I know how, when and why to invest my savings? Would I like to find out?
The Action: To have a tool for monitoring my investments and the people who advise me.