LETS TALK MONEY

26/03/2024

"You can go to your unemployed friend and say let's wash taxis at the rank we going to wash 10 each and make R500.00 per day (R15000pm)...

Your friend will likely refuse. It's too hot I have a degree what what.

Same friend gets a job offer from Capitec for R167 per day (R5000 monthly) he accepts the offer and celebrates like there is no tommorow.

That's people for you they would rather be exploited in big fancy offices either than make their own struggle in the street. People don't care about numbers they care about standard's.

You can cut grasses and make R10000 pm way more money than many people wearing fancy suits everyday. You must forget what people will think and face reality.

Focus on number's. They may laugh at you when your wearing your overalls cutting grasses and washing cars little would they know that you actually make more money than them.

I know women that sell food at the Taxi rank who don't make less then R1000 per day. You look down on them when your going to your airconditioned office. The big companies exploit you. They know your desperate for a job and lazy to think.

My point here is doesn't matter what your hustle may look like what matters is the number's.

A lot of people are underpaid and work for debt yet every morning you see them wearing nice clothes to work.

Keep it real. Spirit ✊✊✊."

Credit: Sakhile Mcambi

26/03/2024

2 Steps to get rich using NSFAS money

1. BECOME A MINIMUM SPENDER FOR A YEAR(STINGY)

Divide your food allowance with a 50-30-20 money rule where 50% of your money buys everything that is NEEDS( things you can't live without)
such as groceries, toiletries and e.t.c, see how much remains as change from after spending on your needs and put it aside

Use the 30% of your allowance to buy things that are your WANTS (things you can live without) see how much remains as change and put aside

Use 20% of your allowance and the possible change you put aside to fund savings accounts such as Tax free savings, buy shares, stocks, and bonds on platforms such as easy equities.

2. EARN EXTRA INCOME

Use your Nsfas savings to start a small business that requires very little to no capital.

Use your skills and techniques to render services to the community around you.

Make a research of type of business you can start with no capital at all

if you can find a part time Job, please do.
If your family can afford monthly allowance, it is even way better you can save and invest more.

THE THING ABOUT BEING AT TERTIARY IS THAT YOU MUST SAVE AS MUCH AS YOU CAN, INVEST WHERE YOU CAN BECAUSE THE DAY YOU LEAVE THAT INSTITUTION YOU MAY HAVE ENOUGH MONEY TO COVER THE GAP BETWEEN UNEMPLOYMENT.

IF YOU DO THIS CORRECTLY YOU MIGHT EVEN BE SELF EMPLOYED BY THE TIME YOU FINISH TERTIARY.

25/03/2024

Just came from watching the full episode, very informative, loved the guest, loved the conversation but i'm with DJ Sbu. older people are the dictionary of life where the young ones need to reference from in order to make informative decision. When given an opportunity to be educated you need to listen.

25/03/2024

What is cryptocurrency?

19/03/2024

Let us say for example you earning one income at this point, you have needs and wants that needs to be fulfilled when you get paid, but it is important to exit a cycle of financial frustration as soon as possible.

Quickest answer would be to start a side hustle to earn an extra income, but in reality we have people who have nothing they can do besides their job.

My opinion would be that you set up a strategy of 50-30-20 division of your income. 50% covering your needs, 30% to cover your wants and 20% for investment and savings.

For example your firsthand NEEDS include, Accomodation, food, transport, WiFi and e.t.c

Your WANTS include your spotify subscription, Takeouts, brunch, accounts and e.t c

Your SAVINGS and INVESTMENTS include saving account, emergency funds, equities, stocks and bonds, crypto, piggy bank and e.t.c

This budget strategy will help you see where your money is going and how much of it is left.

So the narrative of spending 50% of your income on Accomodation, that is a recipe of financial frustration. The favourable accomodation expense should atleast be a maximum 30% or less of your income and it should deducted on money set aside for your NEEDS.

19/03/2024

Financial Education they will never teach you about.

"One truck cost R1.6million, side tipper cost R400 000 in total its R2million. One can get a five year contract which generates a total net of R250 000 every month. If you set out R100 000 to build an assets portfolio from the net profit you can be able to purchase two more trucks in a period of three months. Every three months you can be able to buy 3 more trucks on top of your existing fleet. That's 45 trucks within a period five years if you work smart. With 45 trucks you can generate a net profit of +R140million per annum. This is the information they will never teach you at school. Moral of the post is that every one is more focused on looking cool instead of building solid investment portfolios. Make up your mind👑"

14/03/2024

Comment with the favourable answer, How much percentage of your money should cover the roof over your head?

A. 50%
B. 30%
C. 80%

14/03/2024

The biggest question i have today is how much of your money goes into paying the roof over your head?

07/03/2024

"True financial freedom is not about how much money you have; it's about having the freedom to make choices without financial constraints."

06/03/2024

This is an anonymous page where we can freely seek counsel and financial education from real life financial experiences. Lets talk money, investing, property, budget, savings and income streams. Help a South African by anonymously sharing your financial breakthrough and also your financial dark days. Every little story can lead to a financial freedom of the next person.

Drop your stories in my inbox and it will anonymously be copied and pasted here.