I'am young too and recently I was just presented with a big cheque I have never seen in my life to be honest I was gonna go wild on clothes and stupid stuff but ive come across your content, and It brought a paradigm shift so I will now buy a camera for freelance photography and register a company ive been planning since high school, financial knowledge is needed in the black community, thank you for what you do?
Ohh my my The first mistake buying a Car and House OMG it still haunting and troubling me to this day. We are so trap of the "Lifestyle Inflation" Can someone come and take the car and house back to it owners😢😢Am tired.
1. Buying more than you can afford (cars, houses) 2. Funding lifestyle with debt. 3. Not having an emergency fund. 4. Do not invest. 5. Try to get rick quick. 6. Black tax
When it comes to family tax, yes I agree it is important to be honest kodwa some people won't understand you even if you explain yourself in every language. It is also important to make peace with that and not feel guilty.
I had to draw the line with black tax. It was uncomfortable and emotional but I had to do it. We need to help our family members of course but they also need to understand that you've got your own projects and goals to achieve.
Family tax is real sis !! Worse for us gents when you get married & now have 2 fronts where the battle has to be fought (your family & hers) the shaming can easily get out of hand.
I'm convinced that the big investors and analysts are trying to scare us to keep us poor and ignorant to the market.. because its steady doing good after all the jobless and market crash talks
I bought ur book in March, I couldn't read it bcz of the pressure of being a working student... 9 Months later I made time for it and I jxt can't put it down, it's very indulgent and insightful.... Well done Ausi, Enkosi kakhulu👌🏾❣️👌🏾
it's nice to have someone to bail USA out now and then but they are enablers of bad habits. money that you didn't work for doesn't have the same value as the money you earned. so by saying no, you are helping them to be hustlers
I think for some people they are so attached to being the hero in the family that they cant bare to be seen as a failure by not helping even if it means starving themselves. I had to give my Mom a reality check a few years ago bcoz her life was stagnant while everyone else's was thriving bcoz she kept helping people who were not helpless only using her.Today everyone is dependant on themselves unless its a family issue or an emergency. Not this thing of using one person bcoz they cant say no!!!
My mother was in that trap for a very long time even on Xmas her family would come for a feast and it was always our house. Until I started working I called each of them asked for contributions towards Xmas lunch. Everyone was happy to contribute. She thanked me coz after that Xmas everyone wanted to contribute in further events. She finally stopped playing hero!!!
I am a new subscribe 😀& love your videos very helpful as a 38 yrs old who is in a journey to fix her finances & build a financial legacy for my kids can't thank you enough 🙏
I find that information surrounding investing can be so extensive and overwhelming. Sometimes the jargon gets a bit much. Is there an easier way to learn all these important things without feeling like you're suffocating from information overload? Like investing 101 for dummies or similar?
With a "security taker money personality" I love your simple advises, @9:35 (Basics/Foundation first) Checklist the basics first (budget, emergency fund, pay-off debt...ect) & diversify (cash for goals, equity, retirement) then one can be ready to go high risk. Thank you Mapalo
I coward away in shame when she made the get rich fast point😂 I've learned so much in such a short space of time,thank you for this. Definitely a new subbie
Thank you for this dear, just came across your content. ..im guilty of aleast 3 of things u listed...im working on myself. Fortunately im one who can adjust easly if life demands..."Salary cuts" have made things worst for me, as a result i decided to rent out my outside room..( lets just say that ddnt work out as planned). Ddnt realised how must i loved my space😶 But "yours trully "ddnt give up...this month just started my side bussiness as a consultant ...im scared yet excited. Im taking all the wise financial advice i can get. Once again that u🙌
Thank you for this Mapalo, your content is good. I want to try move my money from just investing to put it in a tax free saving and see what you mean with the compound interest
Family will make you feel quilty for saying no, with valid reasons even. They'll go as far as saying but I also did this for you, why can't you do it for your younger sibling. How? Why should I pay for the sake of paying?
The worst part about being a victim of black tax is that when you are in need, there's likely no one to help you. When I think of this, my level of guilt goes straight to minus 1 about saying no
Be humble, keep it simple, spend less then you earn, save & invest the rest, don't borrow money except to buy a house, you will be financially secure & have peace of mind.
Sometimes one can find financial advice in a certain format can be for entertainment purposes only, but then again some advice are geared towards certain lifestyles and mindset....
first time watching ur vids. I was debt free on credit cards but now i accumulated total of 6k 🤦🏻♂️ it just grows fast u wouldn’t noticed it right away. Working on paying it off but i just wanna cry using big chunk of my paycheck to pay for it. 😭
Hi Tshepo, your best bet is a mutual fund, where you can invest in fixed accounts, shares, bonds, properties and other assets. BIFM has fantastic funds to choose from. You can choose from short to middle and long term investment funds depending on your goals and risk tolerance. There is also Allan Gray and some investment funds, but I’ve had a great experience with BIFM. I’m from Botswana too.
@@tshepopatiencemafojane1661 go for ETFs mutual funds are ripping of with the managing fees while most if the time they do not produce excess profits (well, even when they do, they are eaten by fees).
But Mapalo in the case of your car why wouldn't you claim from your car insurance. Andithi that's the reason you are paying it every month? Or was it a case of Excess, costing more than the damage itself?
My friend claimed in a period of 3 months for small stuff on 2 cars. After a couple of years she bought a newer model & her premium had almost doubled cause the industry had branded her " high risk" even her excess was higher. Insurance is the pits.
@@manotshimotloung8124 😂😂😂 my PA is a great hairstylist as well. She sourced the hair, made it for me and styled it as well. Her handle on IG @theglambar_sa
Hi. I've just started following you. I must still catch up and so I'm not sure if you have spoken about debt consolidation. I keep getting calls for that and I only have two debts. A bond and a student loan. I honestly do not want to combine them. What's your take on debt consolidation
Some homeloans have an option of allowing you to access the extra cash in your bond...can I use that option as my emergency fund..since putting extra there kills interest in my current debt
Hey, I love your videos I'm just curious why did you use your emergency fund to fix your car? I'm new here...I'm just wondering do you not have insurance? It might sound like a silky question but I'm just wondering why you chose not to use your insurance.
