Two years ago around this time, I decided to write a scathing blog post at my disappointment in young people and big financial institutions, for their disregard for the importance of financial literacy and the month of July- National Savings month. The blog post was brutal and honest. Like typing “OK”, as a response to an ex’s last text. Two years later and the landscape is slowly changing. THANK GOD! There is a rising group of young people who
In the last couple of weeks, I’ve found myself cringing at a number of tweets relating to money. Misconceptions, myths and false statements that could resurrect the dead like Pastor Lukau. This is what creates the illusion that money is complex and difficult to understand. So it’s important to address some of these misconceptions. A big salary will solve all your money problems… Uhm, NO! If you are struggling to save anything from your current salary, it is unlikely that you
Budget People constantly scream from the rafters of social media, that they don’t have any money to save and invest at the end of each month, yet they have never taken the time to draw up a budget. The Liver! Let me point out the very obvious – how is it possible to know with certainty that you don’t have enough money to save, but you have no clue of what your expenses and incomes are? The ex you avoid at all
One of the worst things that you can do, is to get caught up in a lifestyle adjustment – Where your standard of living increases simultaneously with the rise of your income. The trap of earning more to only pay others more. Let me explain. Promotions and raises in income have the tendency to bring about new spending and costs, as most people adjust their lifestyle for the better. Financial institutions will increase your credit limit and give you a bigger
