With the Income Tax Amendment Act, many Namibians will now have some more money at their disposal.

Financial experts, however, caution consumers to manage their finances wisely and put aside funds for emergencies as a shield against financial stress.

Saving money for emergencies such as medical or home repairs saves one from financial stress.

Consumers are advised to build up at least three to six months' worth of living expenses in a separate account.

Old Mutual Namibia's Executive for Group Marketing, Public Affairs, and Sustainability, Mignon du Preez, says even a small amount, such as N$200, will contribute a lot in the long run.

The Old Mutual executive advised that it's equally important not to forget to save for retirement or for savings purposes through a pension fund.