When it comes to managing money like a grown-up, most of us are just trying to figure it out as we go. But for Financial Advisor Thumeka Mtshiza, helping people make sense of their finances is more than a job—it’s a calling. From guiding young professionals to prepare for the unexpected, to helping families protect their legacies, she’s seen firsthand how smart decisions today shape financial freedom tomorrow. In this insightful and empowering piece, Thumeka shares her personal journey, practical advice, and money truths every adult needs to hear. Whether you’re starting from zero or trying to do better with what you have, this is your grown-up guide to getting it right.
From Uncertainty to Purpose: A Journey into Financial Advisory
Thumeka’s journey into the world of financial advisory didn’t begin with certainty or confidence—it began with curiosity, learning, and an opportunity she didn’t take for granted. “I started in the financial advisory industry in 2014 through the Standard Bank Financial Consultancy Learnership,” she recalls. The role wasn’t easy. Sourcing her own clients, educating them on insurance products, and building trust from scratch was daunting for someone new to the field.
“At first, I didn’t know what I was doing,” she admits with honesty. “But over time, I was mentored by an Executive Financial Advisor in the business banking space. That’s when I found what really resonated with me—analysing financial statements, meeting business clients, and learning how money can truly impact lives.”
Her academic background—a B-Tech in Financial Information Systems—aligned naturally with the analytical side of her work. But becoming a trusted financial advisor in South Africa also means meeting rigorous standards. “You need to complete your RE5 Regulatory Examination, and an NQF Level 5 Wealth Management Certificate or a finance qualification accredited by SAQA,” Thumeka explains. “That’s what I have now—and I’m still planning to study further.”
The Role of a Financial Advisor: More Than Just Money
What does a financial advisor really do? According to Thumeka, it goes beyond selling products. “We build trusted relationships,” she says. “We help clients make sense of their money, understand their goals, and build a legacy. We educate them, and most importantly, we review and adjust their plans as life changes.”
She shares a powerful moment with one of her clients that reaffirmed her purpose: “She came to me wanting to protect her family—not just herself. We took our time, explored her needs, and found the right life cover and funeral plan. Months later, she said, ‘Thumeka, thank you. You helped me prepare. Because of that, we were able to give our loved one a proper farewell with dignity.’ That’s when I knew this work matters.”
Financial Literacy is Freedom
“Financial literacy isn’t just about money—it’s about freedom, confidence, and peace of mind,” Thumeka emphasizes. She believes young adults especially need a solid foundation to avoid the traps that can derail their lives.
Some of the most common mistakes she sees include not budgeting, delaying life cover, over-relying on debt, ignoring retirement planning, and underestimating inflation. “People assume R1,000 today will still be R1,000 in 10 years. It won’t,” she warns. “Inflation erodes value if your finances aren’t growing.”
She also notes the emotional traps: “Buying to keep up appearances, mixing feelings with financial decisions—it’s more common than we think.”
Budgeting Like a Grown-Up
Thumeka’s approach to budgeting is refreshingly practical. “Budgeting is simply telling your money where to go,” she says. “List your needs, wants, savings, and set limits. Track your spending weekly. Plan for school fees, car services—those irregular costs.”
Real-life budgeting might mean “saying no to takeaways so you can save R300 for your child’s school uniform,” or “using a grocery list so you don’t buy what’s on special, but what you actually need.”
Avoid common budgeting pitfalls, she advises. “Track everything. Leave space for fun. Be honest with yourself. And keep it simple—don’t overcomplicate your budget.”
Saving, Investing & Knowing the Difference
Saving is for emergencies. Investing is for growth. And both matter.
“The best time to invest? Now,” Thumeka insists. “Even R100 a month makes a difference over time, thanks to compound interest.”
Beginner-friendly options in South Africa include:
- Unit Trusts for diversification.
- Tax-Free Savings Accounts (TFSA) to grow money tax-free.
- Exchange-Traded Funds (ETFs) for low-cost market access.
- Retirement Annuities (RA) for long-term planning.
- Savings plans from providers like Liberty Life.
Know your tools: Emergency funds, fixed deposits, money market accounts, and education plans each play a role. “Protect before you grow,” Thumeka adds. “Cover yourself first.”
Debt: Friend or Foe?
“Good debt grows your value. Bad debt drains your energy and resources,” Thumeka explains. “A student loan or home loan? That’s investment into your future. But payday loans and store accounts? Those will bury you.”
Managing debt starts with awareness. “Know what you owe. Prioritize paying off high-interest loans. Don’t borrow for lifestyle inflation.”
Building Financial Discipline: Start Small, Stay Consistent
The most powerful money habit? “Pay yourself first. Before you pay bills, buy airtime or swipe your card, save—even if it’s R50.”
She believes success comes from simple steps: budgeting, tracking, building an emergency fund, clearing debt, and investing for the future. “Start where you are. Progress beats perfection,” she says.
Tools like 22seven or your bank’s app can help. “Set goals. Automate savings. Review monthly. And practice the 24-hour rule before making a big purchase.”
Feeling overwhelmed? “Take a money snapshot. Focus on one area. Ask for help. You don’t have to do it alone.”
Myths, Mindset & Money Truths
Thumeka tackles the myths head-on:
- “I don’t earn enough to save.” – Start small, be consistent.
- “Debt is normal.” – Not if it steals your future.
- “Life cover is for old people.” – It’s for anyone who loves someone.
She warns against financial advisors who don’t explain fees, rush you to sign, or push products without listening. “A good advisor educates you, checks in, and empowers you—not pressures you.”
A Philosophy Rooted in Empowerment
For Thumeka, money is about freedom and dignity. “It’s not about stacks of cash. It’s the power to choose how you live, work, and give.”
Her five core beliefs:
- Consistency beats perfection.
- Start where you are.
- Protect before you grow.
- Financial education is empowerment.
- You don’t have to be rich to build wealth.
To her younger self, she’d say: “Start now. Save something. Learn. Protect yourself. Avoid debt traps. One smart decision at a time will shape your future.”
And to every adult, her message is clear:
“Live below your means. Spend less than you earn. Save and invest the rest. That’s how you build freedom.”
Managing money like a grown-up doesn’t mean you have it all figured out—it means taking responsibility, one step at a time. As Thumeka proves, with the right guidance, mindset, and consistent action, financial freedom is within reach for anyone willing to start.
