Financial Education

Get your financial affairs in order: how to create a lifebook

Creating a lifebook – a place to store all your financial information – ensures that you and your family can easily access important information in an emergency, or whenever you need it. Whether it’s a digital or physical folder, here’s what to include in your lifebook.

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What should a lifebook look like?

Your lifebook could be a folder on your computer where you've saved all relevant documents, and perhaps even a spreadsheet summarising your information. Or if you prefer, print out all the relevant documents and put everything together in a physical file. Whether it’s a physical or digital folder, make sure your family knows where and how to access your lifebook if something happens to you.

Your folder should include:

  • Your updated Last Will and Testament, or the details of where it is stored
  • Birth certificates and important medical details
  • Medical aid information
  • Banking information
  • Tax details and records
  • Property ownership details and documents
  • Details of all your provident, pension and retirement annuity policies
  • Investment accounts
  • Short-term insurance policies (vehicle and household insurance, etc.)
  • Long-term insurance policies (life insurance, funeral cover, critical illness, income protection cover, etc.)

Spreadsheet it

Create a spreadsheet with all your investments, bank accounts and risk cover information summarised. Include the details of the product/service providers and account numbers, and where to find important documents or additional information not stored in the lifebook folder. This gives you a single piece of paper that records all your financial information.

Remember to update your information when things change, or work an annual update into your calendar.

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