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Fin24 user and high school teacher N E Munyai describes his journey from making decisions based on ignorance to leading a happily solvent and finance-savvy lifestyle. He writes:
I am a secondary school educator who, at least, owns a debt-free house (four bedrooms, double garage, a kitchen and lounge), two paid-up cars - and they are my only cars.
I always buy clothes and food on a cash basis (my family consists of five members). Out of my meagre salary - educators do not earn much - I am able to put away R6 500 monthly.
Attaining this economic status was not a walk in the park. Let me explain: when I started working, nobody gave me financial advice. As a result, I made all those uninformed financial decisions.
I took out several funeral policies because that is what agents from financial institutions advocated then. They were mum about investments.
I opened several clothing accounts. I suffered financially. I did not have a cent to save at month-end. I worked for funeral policies and clothing and other accounts.
Thanks be to the motivational books like Think and Grow Rich by Napoleon Hill. Thanks be to Lydia, my former colleague, who encouraged me to come out of debt and start saving money. (She had a lot of cash in the bank out of her savings, and from selling second-hand clothes.)
Look for people who talk making money
I burnt all my shopping cards and paid up my accounts one by one (not easy at all, I had to put together all the discipline I had). I cancelled my funeral policies (not all of them, though).
I learnt it the hard way and I wasted my money and time. I should have received financial advice earlier. I should have read financial success books earlier. I should have met Lydia earlier.
I am happy because my children are financially smart. I am teaching them through my experience.
I look for people who talk making money and associate with them.
Life is now good and I am happy, thanks.
- Fin24
Help us help you by taking our second annual Debt survey and you could win R3 000, or add your voice by sharing your debt experiences, debt-busting tips and insights. Have a question? Ask our experts.
I am a secondary school educator who, at least, owns a debt-free house (four bedrooms, double garage, a kitchen and lounge), two paid-up cars - and they are my only cars.
I always buy clothes and food on a cash basis (my family consists of five members). Out of my meagre salary - educators do not earn much - I am able to put away R6 500 monthly.
Attaining this economic status was not a walk in the park. Let me explain: when I started working, nobody gave me financial advice. As a result, I made all those uninformed financial decisions.
I took out several funeral policies because that is what agents from financial institutions advocated then. They were mum about investments.
I opened several clothing accounts. I suffered financially. I did not have a cent to save at month-end. I worked for funeral policies and clothing and other accounts.
Thanks be to the motivational books like Think and Grow Rich by Napoleon Hill. Thanks be to Lydia, my former colleague, who encouraged me to come out of debt and start saving money. (She had a lot of cash in the bank out of her savings, and from selling second-hand clothes.)
Look for people who talk making money
I burnt all my shopping cards and paid up my accounts one by one (not easy at all, I had to put together all the discipline I had). I cancelled my funeral policies (not all of them, though).
I learnt it the hard way and I wasted my money and time. I should have received financial advice earlier. I should have read financial success books earlier. I should have met Lydia earlier.
I am happy because my children are financially smart. I am teaching them through my experience.
I look for people who talk making money and associate with them.
Life is now good and I am happy, thanks.
- Fin24
Help us help you by taking our second annual Debt survey and you could win R3 000, or add your voice by sharing your debt experiences, debt-busting tips and insights. Have a question? Ask our experts.
